383-385 Ocean Pkwy Brooklyn, NY 11218
- Retail properties
- 8,640 SF
Current Use by Public Records
- Retail properties
Property Details for 383-385 Ocean Pkwy
- Property size
- 8,640 SF
- Property type
- Retail properties
Description
This exceptional mixed-use property at 383-385 Ocean Parkway in Brooklyn, New York, presents a compelling investment opportunity. Currently configured as two three-family homes, the property generates stable cash flow from six residential units, all with leases expiring in December 2024. Situated on a 6,000 square foot lot, the property boasts a substantial buildable square footage of 24,000 square feet as-of-right, per the R7A/OP zoning designation. This allows for significant future development potential. The property's prime location in Kensington, between Avenue C and Cortelyou Road on Ocean Parkway, offers unparalleled convenience. It's surrounded by a wealth of amenities, including an abundance of private and public schools, medical facilities, and a diverse array of retail businesses such as restaurants, bars, coffee shops, and banks. Residents enjoy easy access to Prospect Park and the Kings Theatre, both within a mile radius. Commuting is a breeze with the F train readily accessible at both Ditmas and Church Avenue stations, and the Q train at Beverly Road station, all within walking distance. The asking price for this remarkable property is $4,750,000. The existing structure encompasses a total of 8,640 to 24,000 square feet. This presents a rare chance to acquire a high-yield investment in a thriving Brooklyn neighborhood with significant upside potential.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9727
- Latitude
- 40.6396
