7516 3rd Ave Brooklyn, NY 11209-3104
Property profile & analytics
7516 3rd Ave Brooklyn, NY 11209-3104
- Investment properties
- 2,970 SF
- 0.03 lot acres
Property ID
US63-0871015
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.
Location Intelligence
Current Use by Public Records
- Youroptix / Physician
- Dr. Ella Gelb, OD / Physician
- Rachel Fried / Physician
- Royal Optix / Physician
Property Details for 7516 3rd Ave
- Year built
- 1930
- Lot size
- 0.03 lot acres
- Property size
- 2,970 SF
- Zone code
- R6B
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 05939-0044
- APU
- 59390044
Description
This exceptional mixed-use building, located at 7516 3rd Avenue in Brooklyn's vibrant Bay Ridge neighborhood, presents a compelling investment opportunity. The property boasts a prime location on 3rd Avenue, benefiting from high foot traffic and proximity to public transportation (minutes from the R train) and numerous amenities including Starbucks, Citibank, and a supermarket. This stabilized investment features three units: a ground floor retail space and two residential apartments. The approximately 1500 square foot retail space is recently renovated, showcasing high ceilings, exposed brick, recessed lighting, a showroom, two private offices, and a conference room. A full-sized finished basement adds to the property's value. The retail tenant has a lease extending to December 2025. Upstairs, the building offers two well-maintained residential apartments. The first-floor apartment comprises two bedrooms and one full bath, featuring a newly renovated open-concept kitchen and updated bathroom. The second-floor apartment includes three bedrooms and one full bath, also with a renovated eat-in kitchen and updated bathroom. Both apartments feature high ceilings, Nest-controlled heating, new electrical service, and new plumbing. The building itself is in excellent condition, boasting a newer roof (installed approximately 8 years ago), a new water tank, and a security system. The property sits on a 1,440 square foot lot, is a three-story building constructed in 1930, and is zoned R6B. With a 100% occupancy rate, a Net Operating Income (NOI) of $90,400, and a 4.77% cap rate, this property offers a strong return on investment. The asking price is $1,895,000.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,153,000
Market price range: $1.15M - $1.77M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $1,425,000 Current use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -74.0282
- Latitude
- 40.6311
- 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
$12,582
$22,380
$67,860
$90,240
-
$373,000
$1,131,000
$1,504,000
