85 Dumont Ave Brooklyn, NY 11212-4402
- Investment properties
- 1,344 SF
- 0.02 lot acres
Current Use by Public Records
- Investment properties
Property Details for 85 Dumont Ave
- Year built
- 1920
- Lot size
- 0.02 lot acres
- Property size
- 1,344 SF
- Zone code
- R6
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 03553-0058
- APU
- 35530058
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9167
- Latitude
- 40.6632
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
