168 Havemeyer St Brooklyn, NY 11211
- Office buildings
- 16,638 SF
- 0.07 lot acres
Current Use by Public Records
- Brooklyn Vapor & Smoke Shop Hookah E Cigs Vaporizers / Vaporizer Store
- South 2nd Pharmacy / Pharmacy
Property Details for 168 Havemeyer St
- Year built
- 1950
- Lot size
- 0.07 lot acres
- Property size
- 16,638 SF
- Zone code
- R6
- Property type
- Office buildings
- APN
- 02420-0030
- APU
- 24200030
Description
This exceptional Williamsburg, Brooklyn medical building presents a compelling investment opportunity. The 10,549 square foot, four-story property is situated on a 3,045 square foot lot at 168 Havemeyer Street, boasting dual frontage on Havemeyer Street and South 3rd Street. Currently 100% occupied with a diverse mix of medical tenants, the building features medical-related retail space on the ground floors and medical office space on the upper levels. These long-standing tenants, operating for over 15 years, contribute to a strong net operating income (NOI) of approximately $900,000, with annual rent increases of 4%. Built in 1950, the building is well-maintained and benefits from a flexible zoning designation (R6, C1-3), offering a 2.2 floor area ratio (FAR) for residential use. This allows for potential future conversion of the upper floors to residential units, significantly enhancing long-term value. Located in a thriving area of Williamsburg, this property is ideal for investors seeking immediate cash flow and future development potential within the vibrant Brooklyn medical market. The property's address is 168 Havemeyer Street, Brooklyn, NY 11211.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $495,000
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Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9581
- Latitude
- 40.7112
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
