9 Newport St - Storefront FOR SALE


Brooklyn, NY 11212- Brownsville
$3,999,000 USD
347-243-8776
9 Newport St, Brooklyn, NY for Sale
$3,999,000 USD
Storefront - FOR SALE
1/7
null | 9.14% Cap Rate

9 Newport St
Brooklyn, NY 11212
Brownsville


HIGHLIGHTS

  • 7 FREE MARKET STUDIOS, 5 RETAIL STORES, NEW CO ISSUED, FULLY GUT RENOVATED
  • CORNER BUILDING WITH GREAT LONG TERM UPSIDE
  • SMALL UNITS SO EASY TO LEASE OUT

OVERVIEW

12-unit mixed-use corner building: seven (7) 100% free-market studio apartments over five (5) ground-floor commercial units Tax Class 2B — assessed value increases capped at 8% annually / 30% over five years Not subject to rent stabilization, with strong in-place rents across the residential portfolio Commercial component 100% leased, providing full stabilized retail income Six of seven studio apartments currently leased, offering immediate income with lease-up upside on the remaining unit Prime corner location at Newport Street & East 98th Street, Brownsville, Brooklyn Fully gut-renovated retail spaces with a 100% leased roster Approximately 130 feet of wraparound frontage for exceptional visibility and street presence Zoned R6/C1-3 with a 2.02 FAR, supporting a balanced residential/commercial mix Two blocks from the 3 train (Saratoga Avenue) and a short ride to the L train (New Lots Avenue) Situated in a growing Central Brooklyn submarket with strong residential and commercial demand Rare opportunity to acquire a stabilized, high-return, newly renovated mixed-use asset with in-place cash flow and minimal remaining lease-up

FOR SALE DETAILS

PRICE

$3,999,000 USD

PRICE/SF

$481 USD /SF

CAP RATE

9.14%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

4,110 SF

ZONING

R6/C1-3

APN/PARCEL ID

03595-0005

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347-243-8776

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Sully KleinReal StreetMore Info
347-243-8776

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