Williamsburg Mixed-Use Building For
574 Metropolitan Avenue Brooklyn, NY 11211
574 Metropolitan Avenue, Brooklyn, NY, 11211
$3,375,000
For Sale
$3,375,000
Mixed-use building in prime Williamsburg location with income potential.
Property Size3,380 SF
Lot Size0.04 Acres
Price / SF$998.52
Days on Market141
Property Features for 574 Metropolitan Avenue
General Information
- Standard status
- Active
- Size
- 3,380 SF
- Lot size
- 0.04 Acres
- Property subtype
- Mixed
Building Details
- Year Built
- 1901
Listing agency
Williamsburg
(914) 804-7091
Listed by
Chris Cavorti · License #10301206385
(914) 804-7091
Source
Corcoran
Added: Mar 2 Updated: Jul 10 at 12:29PM Checked: Jul 21 at 6:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Williamsburg
Investment Insights
Based on property information with market context.
Located in the heart of Williamsburg, 574 Metropolitan Avenue is a mixed-use frame building offering scale and income potential. The property has approximately 3,840 gross building square feet on a 24.75 ft by 75.08 ft lot. Zoned R7A with a C2-4 commercial overlay, the asset benefits from a 4.0 FAR and approximately 3,592 square feet of remaining buildable area, allowing for a total buildable of 7,432 square feet. The building is configured as three residential rental units over a ground-floor and lower level retail space, consisting of a 4-bedroom, 1-bathroom unit over a 4-bedroom, 1-bathroom unit over a studio apartment, with a commercial retail storefront. The layout provides income-producing capability. Generous ceiling heights, multiple exposures, and frontage along Metropolitan Avenue create an adaptable foundation for renovation, modernization, or vertical expansion. Situated near the intersection of Metropolitan Avenue and Lorimer Street and moments from McCarren Park, 574 Metropolitan Avenue places occupants within reach of dining, retail, nightlife, and cultural destinations. Convenient access to the L and G subway lines provides connectivity to Manhattan and throughout Brooklyn. With annual real estate taxes of approximately $8,616, the property offers attractive carrying costs. Currently offered at a 5% Cap Rate.
Key Highlights
- Prime Williamsburg location on Metropolitan Avenue, near McCarren Park and major amenities.
- Significant development potential with R7A/C2‑4 zoning and approximately 3,592 SF of remaining buildable area.
- Mixed‑use building with three residential units and a ground‑floor retail space, providing diversified income streams.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $262.8k | $77.76 |
| − Vacancy | −$31.3k | −$9.25 |
| EGI | $231.6k | $68.51 |
| − OpEx | −$69.5k | −$20.55 |
| NOI | $162.1k | $47.95 |
3,380 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.32M
$2.03M – $2.70M
NOI $162,087 @ 7.0% cap · market cap 4.80%
Second Best
Mixed Use
$1.75M
$1.53M – $2.04M
NOI $122,694 @ 7.0% cap · market cap 3.64%
Theoretical Best
Specialty Retail
$2.80M
$2.45M – $3.27M
NOI $195,905 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Vestige Tattoo Studio
Tattoo & Piercing Shop
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use building in prime Williamsburg location with income potential.
Where is this mixed-use property located?
The property is located at 574 Metropolitan Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,375,000.
What are key features of this property?
This property features: Prime Williamsburg location on Metropolitan Avenue, near McCarren Park and major amenities.; Significant development potential with R7A/C2‑4 zoning and approximately 3,592 SF of remaining buildable area.; Mixed‑use building with three residential units and a ground‑floor retail space, providing diversified income streams.
