1397 Flatbush Ave, Brooklyn, NY

Listing agent Alex Svetlakou License #NY 10401242416

Listing office RIPCO Real Estate - Brooklyn Show Phone

Listing date Jul 31, 2025

Source Moodyscre

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Overview

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.

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

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

Location Insight

• Map
• Local Demand

City

Brooklyn

County

Kings

State

New York

Longitude

-73.9517

Latitude

40.637

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FAQs

What type of property is this?

Mixed-use property - Turn-key investment property with retail and residential income.

Where is this mixed-use property located?

The property is located at 1397 Flatbush Ave Brooklyn, NY.

What is the asking price?

The asking price for this property is $1,225,000.

What are key features of this property?

This property features: High‑traffic location on a busy Brooklyn retail corridor near Brooklyn College and multiple transportation options (2, 5, B, Q trains).; Turn‑key investment property generating over $103K gross annually.; Favorable Tax Class 1 limits future tax increases.