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    224 Manhattan Ave brooklyn, NY 11206

    Sponsored
    For Sale
    $2,700,000

    Five-unit residential, one commercial space.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property at 224 Manhattan Avenue in Brooklyn, NY, 11206, presents a rare investment opportunity. Offered at $2,700,000, this building boasts a compelling blend of residential and commercial income streams. The structure comprises five residential units, each a two-bedroom, one-bathroom apartment. Currently, the building is partially vacant and features year-to-year tenants only. Adding to its appeal is a commercial space, recently renovated in 2015 and previously operated as a bar. This versatile space offers significant potential for a variety of businesses. The building's location in the vibrant Brooklyn neighborhood provides easy access to local amenities, transportation, and a thriving community. This is a unique chance to acquire a well-positioned mixed-use property with established income and significant upside potential. The building has not been on the market since the 1970s, making this a truly exceptional offering. Private showings are currently required. The square footage is not currently available.

    Property Features for 224 Manhattan Ave

    General Information

    Property type
    Mixed-use properties

    HighLights

    • Exceptional mixed‑use investment opportunity in Brooklyn, NY, offered at $2,700,000.
    • Five (5) two‑bedroom, one‑bathroom residential units, currently partially vacant with year‑to‑year tenants.
    • Includes a renovated commercial space (2015), previously a bar, offering versatile business potential.
    • Prime Brooklyn location with excellent access to amenities and transportation.
    • Rare opportunity; building hasn't been on the market since the 1970s; private showings required.
    Property Profile Location Intelligence

    Current Use by Public Records

    Manhattan Venue & Food ... Event Venue

    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
    36047
    State
    New York
    Longitude
    -73.9452804
    Latitude
    40.7109636

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    FAQs

    What type of property is this?
    Mixed-use property - Five-unit residential, one commercial space.
    Where is this mixed-use property located?
    The property is located at 224 Manhattan Ave brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,700,000.
    What are key features of this property?
    This property features: Exceptional mixed-use investment opportunity in Brooklyn, NY, offered at $2,700,000.; Five (5) two-bedroom, one-bathroom residential units, currently partially vacant with year-to-year tenants.; Includes a renovated commercial space (2015), previously a bar, offering versatile business potential.
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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
    224 Manhattan Ave brooklyn, NY 11206
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