29 Greenpoint Ave - Storefront Retail/Residential FOR SALE


Brooklyn, NY 11222- Greenpoint
$3,995,000 USD
718-475-4382
29 Greenpoint Ave, Brooklyn, NY for Sale
$3,995,000 USD
Storefront Retail/Residential - FOR SALE
1/20
null | 5.4% Cap Rate

29 Greenpoint Ave
Brooklyn, NY 11222
Greenpoint


OVERVIEW

Prime Greenpoint Location Situated in one of Brooklyn’s most desirable and rapidly growing neighborhoods, with strong retail and residential demand. Turnkey Mixed-Use Asset Fully occupied 3-unit building with 2 free- market residential units and 1 commercial unit (Taku Sando, Japanese sandwich shop). Attractive Financial Metrics In-place cap rate: 5.4% Pro forma cap rate: 5.6% Stable Income with Upside Residential rents average $5,400/month with potential to increase to $5,750/month; commercial rent already near market. Development Potential Zoned R6/C2-4 with approx. 2,900 SF of unused air rights, offering long-term redevelopment opportunity (Max FAR 3.0). Efficient Expense Structure Low expense ratio of 11%, with tax class 1 status and minimal operating costs. Turnkey Mixed-Use Building Fully occupied asset with minimal immediate capital needs — ideal for investors seeking stable, in-place cash flow from day one. Prime Greenpoint Waterfront Location. Located just steps from the Greenpoint waterfront and within walking distance to Transmitter Park, the NYC Ferry, and vibrant retail and dining options.

FOR SALE DETAILS

PRICE

$3,995,000 USD

PRICE/SF

$1,472 USD /SF

CAP RATE

5.4%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1931

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

1,971 SF

ZONING

R6/C2-4

APN/PARCEL ID

02556-0053

ASK ABOUT THIS PROPERTY

Shaun RineyMarcus & MillichapMore Info
718-475-4382

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Shaun RineyMarcus & MillichapMore Info
718-475-4382

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.