1435 64Th St Brooklyn, NY 11219

Property Details for 1435 64Th St

Year built

1920

Property size

6,540 SF

Property type

Retail space

Property subtype

Storefront properties

Description

This exceptional mixed-use property, located at 1435 64th Street in Brooklyn, NY (zip code 11219), presents a compelling investment opportunity. The 6,540 square foot building, constructed in 1920 and extensively renovated in 2022, boasts a Class A designation and features a blend of retail, office, and multifamily spaces. Currently operating at 100% occupancy with five tenants, the property generates a substantial net operating income (NOI) of $207,000, translating to an attractive 5.92% cap rate. The building comprises three stories and sits on a desirable corner lot, benefiting from high foot traffic and proximity to public transportation, including the D subway line. The property is zoned M1-1 and features separate utility meters and hot water tanks for each unit. Leases are structured with a 3% rent bump at renewal, ensuring consistent income growth. The asking price is $3,495,000. This is a rare opportunity to acquire a well-maintained, high-performing mixed-use asset in a thriving Brooklyn neighborhood. The sale includes the ground floor retail storefront/office duplex, which will be delivered vacant upon closing. The remaining units are occupied by top-paying tenants. This property is ideal for owner-users or investors seeking a strong return on investment.