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    696 Grand St Brooklyn, NY 11206

    Sponsored
    For Sale
    $2,500,000

    Brooklyn 2-Family + Store, Value-Add Opportunity

    Property size:
    2,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional multifamily investment property, located at 696 Grand Street in Brooklyn, NY 11206, presents a compelling opportunity for owner-occupants or investors. The three-story, Class B building boasts 2,000 square feet on a 2,000 square foot lot (20' x 100'). Currently configured as a two-family dwelling and a vacant ground-floor retail space, the property offers significant upside potential. The asking price is $2,500,000, translating to $1,250 per square foot. One apartment is currently occupied, generating a net monthly rent of $2100, while the second apartment and the store are vacant, allowing for immediate value-add improvements and increased rental income. The building underwent renovations seven years ago. Situated in a high-traffic area of Brooklyn, this property benefits from its prime location and strong potential for rental growth. The building dimensions are 20' x 80'. This is a rare opportunity to acquire a value-add multifamily property in a thriving Brooklyn neighborhood. The property is not subject to a ground lease.

    Property Features for 696 Grand St

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,000 SF
    Class
    B

    Building Details

    Year Renovated
    7
    Stories
    3
    Units
    2
    Property Profile Location Intelligence

    Current Use by Public Records

    Disinfection Services NYC Commercial Cleaning Service Brooklyn Kitchen Remodeling Kitchen Remodeler Willaimsburg House Painters Painter

    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
    -73.9565551
    Latitude
    40.7093358

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    FAQs

    What type of property is this?
    Multifamily property - Brooklyn 2-Family + Store, Value-Add Opportunity
    Where is this multifamily property located?
    The property is located at 696 Grand St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,500,000.
    Request Owner's contact information
    696 Grand St Brooklyn, NY 11206
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    Brooklyn, NY 11206
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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
    696 Grand St Brooklyn, NY 11206
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