Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    637 Hegeman Ave Brooklyn, NY 11207

    Sponsored
    For Sale
    $995,285

    3-Unit Apartment Building, High NOI

    Property size:
    3,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 3-unit apartment building in Brooklyn, NY, offering a compelling value-add proposition. The property, built in 1930 and renovated in 2019, boasts a total of 3,600 square feet on a 1,800 square foot lot, with an additional 5,040 square feet of air rights. Currently operating at 100% occupancy since December 29, 2017, the property generates a substantial net operating income (NOI) of $83,796, representing an 8.42% cap rate. The asking price is $995,285, translating to $276.47 per square foot and $331,761.67 per unit. The building features two residential units and a retail space, all currently leased. Its prime location, just five minutes from major retailers like Home Depot, Target, and ShopRite, ensures strong tenant demand and rental income potential. The R6 zoning permits various development options, allowing for potential expansion and increased value leveraging the significant air rights. This stabilized, Class B multifamily property offers a strong return on investment with significant upside potential for value-add strategies. The traditional ownership structure and absence of a ground lease provide a straightforward acquisition process. This is a rare opportunity to acquire a fully occupied, income-producing property in a thriving Brooklyn neighborhood.

    Property Features for 637 Hegeman Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,600 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1930/2019
    Buildings
    1
    Stories
    2
    Units
    3

    HighLights

    • $995,285 asking price for this value‑add, stabilized multifamily apartment building.
    • 3‑unit apartment building with 1 pad, totaling 3,600 square feet.
    • 8.42% cap rate with a $83,796 net operating income (NOI) and 100% occupancy.
    • Located at 637 Hegeman Ave, Brooklyn, NY 11207, in a prime location near major retailers.
    • Features 5,040 square feet of air rights and R6 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    CurvyWaist By Jazz ... Health And Beauty Shop Hairwitflair Salon Studio Beauty Salon Hair With Flair ... Hair Salon

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon 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
    -73.8882838
    Latitude
    40.6615368

    Nearby Similar for Sale

    • $1,585,000
      1,870 SF

      Two-Family Home in Greenwood Heights

      Two-family home with income potential in evolving Greenwood Heights.
      200 31St St, Brooklyn, NY 11232
      View Details
    • New
      $2,450,888
      3,200 SF

      Brooklyn Fourplex with High Income

      Updated 9-bedroom, 6.5-bath four-family with six apartments.
      354 Rutland Rd, Brooklyn, NY 11225
      View Details
    • $4,999,000
      3,060 SF

      Renovated Brownstone in Park Slope

      Impeccably renovated three-family brownstone in prime Park Slope location.
      645 Carroll St, Brooklyn, NY 11215
      View Details
    • $1,899,000
      2,032 SF

      Brooklyn Multi-Unit Home with Garages

      Large corner property with income potential in Bath Beach.
      8686 Bay 16Th St, Brooklyn, NY 11214
      View Details
    • $1,999,000
      2,700 SF

      Bedford-Stuyvesant Two-Family Townhouse

      Two-family townhouse in Bedford-Stuyvesant with income potential.
      427 Pulaski St, Brooklyn, NY 11221
      View Details
    • New
      $1,650,000
      2,048 SF

      Renovated Two-Family Home, Brooklyn

      Newly renovated 2-family in Dyker Heights with rental potential.
      200 Bay 7Th St, Brooklyn, NY 11228
      View Details
    • $6,990,000
      21,294 SF

      Bay Ridge Community Facility For Sale

      Three-story Brooklyn building suitable for medical, office, or community use.
      8710 5Th Ave, Brooklyn, NY 11209
      View Details
    • $1,500,000
      4,522 SF

      Renovated Mixed-Use Corner Property

      Fully renovated mixed-use property in Gravesend/Bensonhurst, Brooklyn.
      248 Avenue P, Brooklyn, NY 11204
      View Details
    • $4,025,000
      0.06 Acres

      Turn-Key 9-Unit Investment Opportunity

      9-unit property in Bedford-Stuyvesant with $275K NOI.
      305 Sumpter St, Brooklyn, NY 11233
      View Details
    • New
      $2,299,888
      0.05 Acres

      Brooklyn Multifamily Investment Opportunity

      Updated 6-unit building near Prospect Park with strong rental income.
      354 Rutland Rd, Brooklyn, NY 11225
      View Details
    • $869,950
      Pending

      Vacant Three-Family Building in Brooklyn

      Vacant 3-family building in Ocean Hill, close to transportation.
      1936 Prospect Pl, Brooklyn, NY 11233
      View Details
    • $2,378,888
      4,320 SF

      Brooklyn Mixed-Use Investment Opportunity

      Mixed-use building with doctor's office and residential units in Brooklyn.
      321 Marine Ave, Brooklyn, NY 11209
      View Details

    FAQs

    What type of property is this?
    Multifamily property - 3-Unit Apartment Building, High NOI
    Where is this multifamily property located?
    The property is located at 637 Hegeman Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $995,285.
    What are key features of this property?
    This property features: $995,285 asking price for this value-add, stabilized multifamily apartment building.; 3-unit apartment building with 1 pad, totaling 3,600 square feet.; 8.42% cap rate with a $83,796 net operating income (NOI) and 100% occupancy.
    Request Owner's contact information
    637 Hegeman Ave Brooklyn, NY 11207
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    637 Hegeman Ave
    Brooklyn, NY 11207
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    637 Hegeman Ave Brooklyn, NY 11207
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.