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    577 Decatur St Brooklyn, NY 11233

    For Sale
    $2,500,000

    Prime Brooklyn investment, high NOI.

    Property size:
    3,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional mixed-use property, located at 577 Decatur Street in Brooklyn, NY (zip code 11233), presents a compelling investment opportunity. The three-story, 3,600 square foot building, constructed in 1865, boasts a 6.18% cap rate and a strong 95% occupancy rate as of November 6, 2023, generating a net operating income (NOI) of $154,552. The building features two units: two street-level commercial spaces and two four-bedroom apartments above. Each apartment includes updated electric and plumbing, modern kitchens with stainless steel appliances and granite countertops, full bathrooms with modern fixtures, and in-unit washer/dryers. All bedrooms have ample closet space and receive abundant natural light, with 10-foot ceilings throughout. A four-car garage at the rear offers additional income potential, either through rental or conversion into additional commercial space. The second-floor apartment could utilize the garage roof as outdoor space. The property benefits from excellent visibility on Decatur Street and Howard Avenue, and is conveniently located four blocks from the J train at Chauncey Street & Broadway. The property is zoned R5B (1.35) with a height limit of 33 feet. This Class B building offers significant value-add potential for investors seeking strong returns and user-occupancy options.

    Property Features for 577 Decatur St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    3,600 SF
    Class
    B

    Building Details

    Year Built
    1865
    Buildings
    1
    Stories
    3
    Units
    2

    HighLights

    • $2,500,000 asking price for a mixed‑use building in Brooklyn, NY.
    • 3,600 square feet, with a price per square foot of $694.44.
    • 6.18% cap rate, 95% occupancy as of November 6, 2023, and a Net Operating Income (NOI) of $154,552.
    • Two‑unit, three‑story building, constructed in 1865, featuring two ground‑floor retail spaces and two four‑bedroom apartments above.
    • Includes a four‑car garage, offering value‑add potential through rental or conversion to additional retail space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    A&Z organic market ... Organic Food Store Kenneth E. Dillard, ... Accountant Accounting, IT and HR ... Accountant

    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
    -73.9201805
    Latitude
    40.6831241

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Brooklyn investment, high NOI.
    Where is this mixed-use property located?
    The property is located at 577 Decatur St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: $2,500,000 asking price for a mixed-use building in Brooklyn, NY.; 3,600 square feet, with a price per square foot of $694.44.; 6.18% cap rate, 95% occupancy as of November 6, 2023, and a Net Operating Income (NOI) of $154,552.
    Request Owner's contact information
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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
    577 Decatur St Brooklyn, NY 11233
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