9027 Fort Hamilton Pkwy Brooklyn, NY 11209

Property Details for 9027 Fort Hamilton Pkwy

Property size

4,176 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a five-unit apartment building located at 9027 Fort Hamilton Parkway in Brooklyn's desirable Bay Ridge neighborhood. The property boasts 4,176 square feet on a 1,620.23 square foot lot, offering significant potential for value enhancement. Currently operating at 100% occupancy, the building generates a substantial pro-forma net operating income (NOI) of $101,025, resulting in a compelling pro-forma cap rate of 6.16%. Each of the five units is free-market, situated within the highly sought-after 2A tax class, allowing for substantial rent growth potential. The asking price is $1,639,000, translating to a price per square foot of $392.48. The building's dimensions are approximately 21.42 feet wide by 65 feet deep, extending 75.08 feet deep on the lot. Its prime location offers convenient access to the Bay Ridge - 95th Street (R) subway station, providing easy commutes to Manhattan, Queens, and other Brooklyn areas. The property benefits from proximity to the 86th Street, 3rd Avenue, and 5th Avenue retail corridors, further enhancing its appeal and investment potential. This is a rare opportunity to acquire a well-maintained, fully occupied, and value-add property in a highly sought-after Brooklyn location. The R5B and BR zoning designations provide flexibility for future development or improvements. Long-term family ownership history adds to the property's stability and appeal.