85 Dumont Ave Brooklyn, NY 11212

This exceptional mixed-use investment property, located at 85 Dumont Ave in Brooklyn, NY (zip code 11212), presents a compelling value-add opportunity. The fee-simple ownership encompasses a 1,344 square foot building constructed in 1960 and extensively renovated in 2015. The property boasts a current 100% occupancy rate, comprising one residential unit and one commercial store. The building's exterior has undergone significant improvements, resulting in an attractive façade. The current Net Operating Income (NOI) stands at $32,504, yielding a 5.42% cap rate. However, a pro-forma NOI of $61,304 projects a significantly higher 10.22% cap rate, reflecting the property's substantial upside potential. The asking price is $599,999, translating to a price per square foot of $446.43. The property is a two-story structure, offering a turnkey investment opportunity with the potential for immediate income generation. The building is well-maintained and features long-term tenants, ensuring a smooth transition for new ownership. Management services are readily available for those seeking a seamless transition. This property is situated in the East Flatbush neighborhood of Kings County.