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    551 Myrtle Ave Brooklyn, NY 11205

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    For Sale
    $2,750,000

    Seven-unit mixed-use building with recent facade upgrades and parking.

    Property size:
    7,635 SF
    Lot size:
    0.06 Acres

    Property Features for 551 Myrtle Ave

    General Information

    Size
    7,635 SF
    Lot size
    0.06 Acres

    Source: RBM Brokerage Agent Gregory Bartlett

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Building with Facade Upgrade

    This is a seven-unit mixed-use corner building. The four-story walk-up building features a new facade upgrade. There is parking available, including a two-car garage attached to the building. The building comprises six one-bedroom rent-stabilized apartments. A commercial store occupies the ground floor and basement. The ownership recently invested $200,000 in facade upgrades. The building uses oil fuel, with a single water heater supplying all apartments. There is an opportunity to upgrade the plumbing and heating by separating all utilities and to install coin-operated laundry. DHCR information is available. Violations exist. The property is for sale as-is, with no contingencies.
    Location Intelligence

    Current Use by Public Records

    HeyBuddy BK Dog Walker Cardtronics ATM Atm Emerson Grocery Grocery Store Pronto Gourmet & Deli Deli

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.962072
    Latitude
    40.694104

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    FAQs

    What type of property is this?
    Mixed-use property - Seven-unit mixed-use building with recent facade upgrades and parking.
    Where is this mixed-use property located?
    The property is located at 551 Myrtle Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,750,000.
    What are key features of this property?
    This property features: - Mixed-use corner building featuring a commercial store and 6 rent-stabilized apartments.; - Recent $200,000 facade upgrade.; - Parking available with a two-car garage.
    (646) 465-1571
    Request Owner's contact information
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    Brooklyn, NY 11205
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    551 Myrtle Ave Brooklyn, NY 11205
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