689 St Marks Ave Brooklyn, NY 11216
- Mixed-use properties
- 6,360 SF
Current Use by Public Records
- Isalis / Boutique / Women'S Clothing Store
- Party City / Party Store / Balloon Store
- Skunk Funk / Wholesaler / Clothing Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop
Property Details for 689 St Marks Ave
- Year built
- 1910
- Property size
- 6,360 SF
- Property type
- Mixed-use properties
Description
This exceptional mixed-use property, located at 689 Saint Marks Avenue in Brooklyn, NY 11216, presents a compelling investment opportunity. The building, constructed in 1910, boasts 6,360 square feet across four stories and comprises nine units, offering a blend of commercial and residential spaces. Situated on a prominent corner lot at the intersection of Saint Marks Avenue and Nostrand Avenue in the vibrant Crown Heights neighborhood, this property benefits from high visibility and excellent foot traffic. The building is zoned R6, Brooklyn, and features strong commercial tenants. The asking price is $4,100,000, representing a 7% capitalization rate. This free-market building offers significant potential for future appreciation and income growth. Its convenient location provides easy access to public transportation, with proximity to the 2, 3, 4, 5, A, and C subway lines. This is a rare opportunity to acquire a well-maintained, income-producing asset in a rapidly developing area of Brooklyn. The property's size, location, and strong tenant base make it an ideal investment for both seasoned and emerging real estate investors.
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
- -73.9501
- Latitude
- 40.6754
