47 Thames St Williamsburg Brooklyn, NY 11237

Property Details for 47 Thames St

Property size

35,000 SF

Property type

Commercial real estate

Description

This exceptional 35,000 square foot mixed-use loft building, located at 47 Thames Street in Williamsburg, Brooklyn, presents a compelling investment opportunity. The four-story property sits on an 11,500 square foot lot and is zoned M1-1, offering significant potential for future development or repositioning. Currently configured as a blend of commercial and residential space, the building comprises 26 units in total. The substantial net operating income (NOI) of $636,909 demonstrates strong cash flow, further enhanced by below-market rents in many units. The building's current income stream is primarily derived from free-market tenants. The price per square foot is $329, representing a below-replacement-cost acquisition. This property offers a rare chance to acquire a well-located, income-producing asset in a thriving Brooklyn neighborhood with significant upside potential. The building's unique character and substantial size make it an ideal investment for both seasoned and emerging real estate investors seeking a strong return on investment in a dynamic market. Detailed financial statements and property information are available upon request. This is a truly unique opportunity to acquire a significant mixed-use property in a prime Williamsburg location.