£5,608,434

7 bed property for sale

  1. Property photo 1 of 38.
  2. Property photo 2 of 38.
  3. Property photo 3 of 38.

Fixed price

£5,608,434

US$7,495,000

7 bed property for sale

1637 Sheepshead Bay Rd, Brooklyn, Ny 11235, Usa

7 beds
4 baths

Local area information

Property location

Nearby amenities

Features and description

  • Unfurnished
Prime Investment Opportunity In Sheepshead Bay – Mixed-Use Property With High Income Potential

Premier Mixed-Use Investment Opportunity in Sheepshead Bay

Discover unparalleled potential at 1637 Sheepshead Bay Road, a versatile mixed-use property situated in one of Brooklyn’s most vibrant and high-traffic neighborhoods. This expansive property offers incredible income-generating opportunities and untapped redevelopment potential, making it perfect for investors, developers, and visionaries alike.

Property Details:

• Lot Size: 50 ft x 177 ft | Zoning: C4-2

• Building Size: 13,149 sf

• Ground Floor & Lower Level: Commercial Unit (Owner-occupied by Monica’s Bridal, can be delivered vacant)

• Second Floor: 4 Residential Units (Three 2-bedroom apartments and one 1-bedroom apartment)

Offering Price: $7,495,000

Highlights:

• Development Opportunity: With additional far available, bring your architect to explore redevelopment options and unlock the full potential of this property.

• Prime Commercial Space: The ground floor, currently home to the renowned Monica’s Bridal, is ideal for a new commercial tenant or a complete reimagining of the space.

• Location, Location, Location: Situated on bustling Sheepshead Bay Road, this property boasts 50 ft of frontage and is surrounded by major retailers like Chase Bank, Starbucks, cvs, and Stop & Shop.

Neighborhood Features:

• High-traffic area with easy access to public transportation, including the N, B subway lines and multiple bus routes.

• Close proximity to shopping, dining, and amenities in a thriving Brooklyn community.

Financial Overview:

• Total Annual Income (Apartments + prospective nnn Lease): $560,550

• Annual Operating Expenses:

• Insurance: $13,000

• Water: $1,500

• Sprinkler/Fire Alarm: $2,000

• Real Estate Taxes: $88,589

• Total Expenses: $105,089

• Net Operating Income (noi): $445,461

cap Rate: 6%

Whether you’re looking to capitalize on steady income, secure a high-demand commercial location, or embark on a redevelopment project, 1637 Sheepshead Bay Road offers the flexibility and potential to meet your goals. The development possibilities, combined with its prime location and stable income, make it a rare and attractive investment.

Contact us today to explore this unique opportunity!

Floor plans and tours

Floor plans (1)

Floor plan 1

Tours

No virtual tour available

More information

Report this listing

Property descriptions and related information displayed on this page are marketing materials provided by - Nest Seekers International. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Nest Seekers International for full details and further information.

  1. Zoopla
  2. Overseas
  3. United States
  4. East Coast
  5. New York State
  6. Queens
  7. Queens borough