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    340 Mcguinness Blvd Brooklyn, NY 11222

    Sponsored
    For Sale
    $2,350,000

    Greenpoint, Brooklyn Investment Opportunity

    Property size:
    1,875 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This prime Greenpoint, Brooklyn mixed-use building at 340 McGuinness Blvd. presents a compelling investment opportunity. The 1,875 square foot property sits on a 0.04-acre lot and features six 2-bedroom, 1-bathroom units, each with an eat-in kitchen. All units are currently rent-stabilized, generating a substantial annual income of $134,617.72, with the potential for increased revenue. Recent upgrades include a new roof (2022), water heater (2024), and gas heater (2024). The building also boasts a full basement with six additional rooms, a utility room, and a half-bath, enhancing its potential for further development or expansion. Exterior features include a backyard with steps and a patio, all finished with granite tiles. Security is ensured with eight surveillance cameras strategically placed inside and outside the building. The property's excellent location provides easy access to public transportation, shops, restaurants, and cafes. While all units are currently tenant-occupied, two units may become vacant soon. This property is offered at $2,350,000. Serious inquiries only. All information is deemed reliable but should be independently verified.

    Property Features for 340 Mcguinness Blvd

    General Information

    Property type
    Mixed-use properties
    Square Feet
    1,875 SF
    Lot Size
    1,742 SF

    HighLights

    • Prime Greenpoint, Brooklyn mixed‑use building, 1,875 sq ft on a 0.04‑acre lot.
    • Six rent‑stabilized 2‑bedroom, 1‑bathroom units with eat‑in kitchens, generating $134,617.72 annual income.
    • Recent upgrades include a new roof (2022), water heater (2024), and gas heater (2024).
    • Full basement with six additional rooms, utility room, and half‑bath.
    • Backyard with granite patio, plus eight security cameras.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply 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
    -73.9519861
    Latitude
    40.7341893

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    FAQs

    What type of property is this?
    Mixed-use property - Greenpoint, Brooklyn Investment Opportunity
    Where is this mixed-use property located?
    The property is located at 340 Mcguinness Blvd Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,350,000.
    What are key features of this property?
    This property features: Prime Greenpoint, Brooklyn mixed-use building, 1,875 sq ft on a 0.04-acre lot.; Six rent-stabilized 2-bedroom, 1-bathroom units with eat-in kitchens, generating $134,617.72 annual income.; Recent upgrades include a new roof (2022), water heater (2024), and gas heater (2024).
    Request Owner's contact information
    340 Mcguinness Blvd Brooklyn, NY 11222
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    Brooklyn, NY 11222
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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
    340 Mcguinness Blvd Brooklyn, NY 11222
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