Premier Mixed-Use Investment Opportunity in Sheepshead Bay
Discover unparalleled potential at 1637 Sheepshead Bay Road, a versatile mixed-use property situated in one of Brooklyn’s most vibrant and high-traffic neighborhoods. This expansive property offers incredible income-generating opportunities and untapped redevelopment potential, making it perfect for investors, developers, and visionaries alike.
Property Details:
• Lot Size: 50 ft x 177 ft | Zoning: C4-2
• Building Size: 13,149 SF
• Ground Floor & Lower Level: Commercial Unit (Owner-occupied by Monica’s Bridal, can be delivered vacant)
• Second Floor: 4 Residential Units (Three 2-bedroom apartments and one 1-bedroom apartment)
• Offering Price: $7,495,000
Highlights:
• Development Opportunity: With additional FAR available, bring your architect to explore redevelopment options and unlock the full potential of this property.
• Prime Commercial Space: The ground floor, currently home to the renowned Monica’s Bridal, is ideal for a new commercial tenant or a complete reimagining of the space.
• Location, Location, Location: Situated on bustling Sheepshead Bay Road, this property boasts 50 ft of frontage and is surrounded by major retailers like Chase Bank, Starbucks, CVS, and Stop & Shop.
Neighborhood Features:
• High-traffic area with easy access to public transportation, including the N, B subway lines and multiple bus routes.
• Close proximity to shopping, dining, and amenities in a thriving Brooklyn community.
Financial Overview:
• Total Annual Income (Apartments + prospective NNN Lease): $560,550
• Annual Operating Expenses:
• Insurance: $13,000
• Water: $1,500
• Sprinkler/Fire Alarm: $2,000
• Real Estate Taxes: $88,589
• Total Expenses: $105,089
• Net Operating Income (NOI): $445,461
CAP Rate: 6%
Whether you’re looking to capitalize on steady income, secure a high-demand commercial location, or embark on a redevelopment project, 1637 Sheepshead Bay Road offers the flexibility and potential to meet your goals. The development possibilities, combined with its prime location and stable income, make it a rare and attractive investment.
Contact us today to explore this unique opportunity!