563 Glenmore Ave - Office FOR SALE


Brooklyn, NY 11207- East New York
$1,350,000 USD
516-965-4996
563 Glenmore Ave, Brooklyn, NY for Sale
$1,350,000 USD
Office - FOR SALE
1/20
null | 9.7% Cap Rate

563 Glenmore Ave
Brooklyn, NY 11207
East New York


OVERVIEW

563 Glenmore Avenue presents a compelling mixed-use investment opportunity in the heart of Brooklyn, offering strong projected cash flow, low operating expenses, and long-term upside potential. This income-producing asset consists of a commercial storefront plus two residential apartments, making it an ideal acquisition for investors seeking diversified revenue streams in a growing urban corridor. The property is configured with a front duplex unit featuring a finished basement, a spacious rear one-bedroom apartment on the first floor, and a large four-bedroom apartment on the second level. The layout provides flexibility for multiple tenancy strategies while maximizing rentable space. Projected rental income includes approximately $5,000/month for the commercial storefront, $4,000/month for the four-bedroom residential unit, and $2,800/month for the one-bedroom apartment, generating an estimated gross annual income of approximately $141,600. A major advantage of this asset is its all-electric setup. Each unit is separately metered and tenants are responsible for their own heating, cooling, cooking, and electric usage through ductless HVAC systems and electric appliances, significantly minimizing landlord responsibilities and operating costs. Operating expenses remain exceptionally low for a Brooklyn mixed-use property, with annual property taxes of approximately $2,243, estimated insurance costs of $3,000 annually, and projected maintenance and water expenses of approximately $5,000 annually. Based on projected financial performance, the property delivers an estimated Net Operating Income (NOI) of approximately $131,357 and an estimated cap rate of approximately 9.7% at the asking price of $1,350,000. Additional upside exists within the separate rear basement section, which offers the potential for supplemental income through tenant storage or coin-operated laundry facilities. Strategically located within a growing Brooklyn neighborhood with strong residential density, neighborhood retail activity, and accessibility to major transportation routes, 563 Glenmore Avenue offers investors the opportunity to acquire a high-yield mixed-use asset with stable income potential and future appreciation upside.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$563 USD /SF

CAP RATE

9.7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1935

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.03 AC

LAND SF

1,442 SF

ZONING

R5B

APN/PARCEL ID

03979-0036

ASK ABOUT THIS PROPERTY

Carlos GaviriaInstahomes Realty LlcMore Info
516-965-4996

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Carlos GaviriaInstahomes Realty LlcMore Info
516-965-4996

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