Current Use by Public Records
- Joyful Tots Day Care / Daycare Center
Property Details for 265 Lott Ave
- Property type
- Specialty properties
- Property subtype
- Office Spaces
Description
This exceptional Class A office building in Brooklyn, NY, presents a compelling investment opportunity. Located at 265 Lott Ave, this 3,000 square foot, fully occupied property boasts a strong 6.56% cap rate and a substantial net operating income (NOI) of $123,900 annually. The building, a well-maintained brick semi-detached high-ranch structure, underwent a complete renovation in 2013 and features a finished basement, adding to its functionality. The 2,080 square foot lot includes a private driveway with three parking spaces. The current tenant, responsible for most operating expenses including half the real estate taxes ($7,693 annually), ensures a stable income stream with minimal owner responsibilities. The property benefits from a superb location with a 100/100 transit score and a 91/100 walkability score, providing easy access to public transportation, local amenities, and several schools including P.S. 184 Newport, P.S. 165 Ida Posner, Brooklyn Democracy Academy, and nearby private schools. The solid poured concrete foundation and strong structural integrity make this a sound, long-term investment with significant potential for appreciation in the growing Brownsville area. The asking price is $1,890,000, representing a price per square foot of $630. This property offers a rare combination of high occupancy, strong cash flow, and a desirable location, making it an ideal addition to any investment portfolio.
Value Estimations
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9036
- Latitude
- 40.6588
