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Property profile & analytics

637 Hegeman Ave Brooklyn, NY 11207

  • Investment properties
  • 3,643 SF
  • 0.04 lot acres
Value Estimation
Location Intelligence
Property ID
US63-6039330
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • CurvyWaist By Jazz beauty bar / Health And Beauty Shop
  • Hairwitflair Salon Studio / Beauty Salon
  • Hair With Flair Salon / Hair Salon

Property Details for 637 Hegeman Ave

Year built
1930
Lot size
0.04 lot acres
Property size
3,643 SF
Zone code
R6
Property type
Investment properties
Property subtype
Live-work space
APN
04303-0042
APU
43030042

Description

This exceptional investment opportunity presents a 3-unit apartment building in Brooklyn, NY, offering a compelling value-add proposition. The property, built in 1930 and renovated in 2019, boasts a total of 3,600 square feet on a 1,800 square foot lot, with an additional 5,040 square feet of air rights. Currently operating at 100% occupancy since December 29, 2017, the property generates a substantial net operating income (NOI) of $83,796, representing an 8.42% cap rate. The asking price is $995,285, translating to $276.47 per square foot and $331,761.67 per unit. The building features two residential units and a retail space, all currently leased. Its prime location, just five minutes from major retailers like Home Depot, Target, and ShopRite, ensures strong tenant demand and rental income potential. The R6 zoning permits various development options, allowing for potential expansion and increased value leveraging the significant air rights. This stabilized, Class B multifamily property offers a strong return on investment with significant upside potential for value-add strategies. The traditional ownership structure and absence of a ground lease provide a straightforward acquisition process. This is a rare opportunity to acquire a fully occupied, income-producing property in a thriving Brooklyn neighborhood.

Value Estimation

Powered by Realmo proprietary methodology Last update: July 3, 2025
  • CAP approach

  • Comparable approach

  • Alternative Use

Location Insight

  • Map
  • Local Demand
City
Brooklyn
County
Kings
State
New York
Longitude
-73.8883
Latitude
40.6616
CBSA code
35620
CBSA name
NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$4,727
$8,400
$47,340
$55,740
-
$140,000
$789,000
$929,000
More about this property
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