$7,495,000

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 and 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 and 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!