1397 Flatbush Ave Brooklyn, NY 11210

This is a three-story, 2,280 square foot masonry mixed-use building situated on a single tax lot. The ground floor retail space is leased to a hair salon until April 2035. The two upper free-market apartments feature two-bedroom layouts and are leased for $2,842 per month and $2,500 per month, respectively. The property currently generates over $103,000 gross annually and has a favorable Tax Class 1, which limits future tax increases. Zoned R7A with a commercial overlay, the property offers additional air rights that may be used to add a floor in the future. It is located on one of Brooklyn’s busiest retail corridors, within four blocks of Brooklyn College and near numerous stores, restaurants, and other conveniences. Situated between the Newkirk Av 2, 5 Station and the Newkirk Plaza B, Q Station, the property provides convenient connectivity across Brooklyn and to other boroughs. This renovated, turn-key investment asset is located on a busy corridor with high pedestrian foot traffic in a rapidly evolving market.