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    307 New York Ave Brooklyn, NY 11213

    Sponsored
    For Sale
    $2,200,000

    Prime Brooklyn location, high potential.

    Property size:
    3,135 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property in Brooklyn's Crown Heights neighborhood presents a compelling value-add investment opportunity. The 3-story building, constructed in 1930 and renovated in 2010, boasts 3,135 square feet on a 1,900 square foot lot (19 ft x 100 ft). Currently featuring four units, including two 3-bedroom, 1-bathroom apartments leased at $2,500 per month each until August 1, 2024, and two commercial spaces, the property offers significant upside potential. The current net operating income (NOI) is $10,000 annually, with a projected monthly income ranging from $14,000 to $18,000 upon full occupancy. The asking price is $2,200,000, representing a cap rate of 0.45%. The building dimensions are 19 ft x 55 ft. Property taxes for 2023-2024 were $5,390, with an estimated $5,712 for 2024-2025. The property is zoned R6 and offers vacant possession in August 2024. This presents a unique chance to capitalize on the vibrant Crown Heights market and create substantial returns. The building is classified as Primarily Two Family with One Store or Office (S2).

    Property Features for 307 New York Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    3,135 SF

    Building Details

    Year Built/Renovated
    1930/2010
    Stories
    3
    Units
    4

    HighLights

    • Vacant possession available August 2024.
    • Two 3‑bedroom, 1‑bathroom apartments currently leased at $2,500/month each.
    • Additional commercial spaces available.
    • Potential monthly income: $14,000 - $18,000.
    • 2023‑2024 property taxes: $5,390; estimated 2024‑2025 taxes: $5,712.
    • R6 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ny Ave Plumbing ... Plumber Brick and Galo Realty Real Estate Agency

    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
    -73.9475891
    Latitude
    40.6690121

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Brooklyn location, high potential.
    Where is this mixed-use property located?
    The property is located at 307 New York Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Vacant possession available August 2024.; Two 3-bedroom, 1-bathroom apartments currently leased at $2,500/month each.; Additional commercial spaces available.
    (917) 324-4855
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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
    307 New York Ave Brooklyn, NY 11213
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