510 Ocean Avenue presents a rare opportunity to acquire a mixed-use elevator building in the heart of Brooklyn, just steps from Prospect Park and multiple transit options. The property consists of ground-floor commercial space with residential units above and is offered at an attractive basis with strong in-place cash flow.
The building is offered for sale at $6,595,000, representing a 9.5% cap rate and approximately $220 per square foot. Current gross income is $941,009.68, with a stabilized NOI of approximately $633,980, assuming a conservative 3% vacancy rate.
Located in a high-barrier-to-entry Brooklyn submarket with excellent walkability and transit access, 510 Ocean Avenue offers investors immediate yield, long-term income stability, and future upside through rent growth and operational efficiencies.