Montague St Brooklyn, NY 11201
- Mixed-use properties
- 7,850 SF
Current Use by Public Records
- Mixed-use properties
Property Details for 0 Montague St
- Year built
- 1900
- Property size
- 7,850 SF
- Property type
- Mixed-use properties
Description
This exceptional mixed-use property in Brooklyn Heights presents a compelling investment opportunity. The building, constructed in 1900 and extensively renovated in 2015, boasts 7,850 square feet across four stories, encompassing seven residential units and two commercial spaces. The seven residential units, totaling 4,200 square feet, include two stabilized apartments with rents exceeding $2,000 each, and five free-market units commanding rents between $3,250 and $3,400. The two commercial units occupy 3,650 square feet. The building sits on a substantial 132,000 square foot lot and offers an additional 1,000 square feet of air rights. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $380,000, with a pro-forma NOI of $420,000, reflecting a 4.47% cap rate and a pro-forma cap rate of 4.94%. The asking price is $8,500,000, translating to $1,082.80 per square foot and $1,214,285.71 per unit. The property is zoned R7-1, offering significant potential for future development. This is a rare chance to acquire a high-performing, mixed-use asset in a prime Brooklyn location. Building dimensions are 25 ft x 56 ft.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.995
- Latitude
- 40.695
