475 3rd Ave Brooklyn, NY 11215-3805
- Investment properties
- 2,720 SF
- 0.03 lot acres
Current Use by Public Records
- Eighty Seven Next Door / Cocktail Bar
- Kiska Construction Corporation / General Contractor
Property Details for 475 3rd Ave
- Year built
- 1901
- Lot size
- 0.03 lot acres
- Property size
- 2,720 SF
- Zone code
- R6A
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 01015-0010
- APU
- 10150010
Description
This exceptional mixed-use property, located at 475 3rd Ave, Brooklyn, NY 11215, presents a rare investment opportunity in the thriving Gowanus neighborhood. The 3-story brick building encompasses 3,240 square feet on a 1,243 square foot lot, and is zoned R6A. Currently configured as a two-family dwelling with a commercial storefront, the property offers two residential units, each with two bedrooms, plus a ground-floor retail space. The building features a basement and a backyard. There are no existing leases on the apartments, providing the potential for immediate occupancy or redevelopment. This property is ideally suited for both owner-occupants and investors seeking strong rental income in a rapidly appreciating market. Its prime location offers easy access to public transportation, being just one block from the F/R/G trains at the 9th St/4th Ave station. Nearby amenities include Whole Foods, numerous restaurants, bars, cafes, and shops, as well as major attractions like Barclays Center and Prospect Park. The seller is highly motivated and open to offers. This is a unique chance to acquire a substantial income-producing asset in one of Brooklyn's most desirable areas. The sale is structured as a 1031 exchange.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,060,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,060,000
- 6.5%
- $1,775,000
- 7%
- $2,045,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,115,000
- Geo Method
- $1,595,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,630,000
- Retail
- $1,950,000
- Mixed-Use
- $1,640,000
- Hospitality
- $1,690,000
- Educational
- $1,925,000
- Residential Income
- $1,980,000
- Energy
- $1,580,000
- Income-Based Land
- $1,855,000
- Food Service
- $1,865,000
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9914
- Latitude
- 40.6706
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
