Brooklyn, NY 11235,1637 Sheepshead Bay Road
Brooklyn, NY 11235,1637 Sheepshead Bay Road
Brooklyn, NY 11235,1637 Sheepshead Bay Road
Brooklyn, NY 11235,1637 Sheepshead Bay Road
Brooklyn, NY 11235,1637 Sheepshead Bay Road
Brooklyn, NY 11235,1637 Sheepshead Bay Road
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Listing Courtesy of Nest Seekers LLC
$ 7,495,000
Est. payment | /mo

7 Beds

4 Baths

13,150 SqFt


Save
$ 7,495,000
Est. payment | /mo
Save

7 Beds

4 Baths

13,150 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 13,150 sqft

Price per Sqft $569

Subdivision Sheepshead Bay

MLS Listing ID OLRS-0098555

Style Prewar,Walk-Up

Bedrooms 7

HOA Y/N No

Year Built 1927

Annual Tax Amount $88,589

Property Description

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!

Location

State NY

County Kings

Zoning C4-2

Interior

Equipment Intercom

Fireplace No

Laundry See Remarks

Exterior

Private Pool No

Building

Story 3

New Construction No

Others

Pets Allowed Pets Allowed

Ownership None

Monthly Total Fees $7, 382

Pets Allowed Building Yes, Yes

REBNY IDX

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104 West 40th Street 4th Floor, New York, NY, 10018, USA

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1637 Sheepshead Bay Road