577 Decatur St Brooklyn, NY 11233

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.