About 1637 Sheepshead Bay Road
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!
Features of 1637 Sheepshead Bay Road
| MLS® # | RLS11024020 |
|---|---|
| Price | $7,495,000 |
| Bedrooms | 7 |
| Bathrooms | 4.00 |
| Full Baths | 4 |
| Square Footage | 13,149 |
| Year Built | 1927 |
| Type | Residential |
| Sub-Type | Multi Family |
| Style | Prewar |
| Status | Active |
Community Information
| Address | 1637 Sheepshead Bay Road |
|---|---|
| Area | Brooklyn |
| Subdivision | Sheepshead Bay |
| City | New York City |
| County | Kings |
| State | NY |
| Zip Code | 11235-1123 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
Interior
| Fireplace | No |
|---|
Exterior
| Lot Description | 50.00 x 177.00 |
|---|
Additional Information
| Listing Courtesy of | Nest Seekers LLC |
|---|---|
| Date Listed | December 5th, 2024 |
| Days on Market | 104 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Nest Seekers LLC |
|---|