Property Description

Unique, Prime, Mixed-Use Property, with a fully renovated store on the first floor and two floor-through 800 square-foot, two-bedroom apartments on the second and third-floors! Perfect opportunity for anyone starting their own business or seeking income producing properties with very little overhead. The first-floor commercial space is currently set up as a hair salon, which is fully renovated. It features its own central HVAC System and spans the entire 800 square-foot first floor, the 800 square foot back yard, and the 800 square foot cellar. The second-and third floor apartments are renovated. This property has a Cap rate of 5.61%. The owner has not increased the rents in several years and the entire building will be delivered vacant. Each apartment has separate gas-boiler and, therefore, everyone pays their utilities separately. The unused FAR according to Property Shark is 688 square feet. Retreat from hectic city life in a newly renovated historically significant urban oasis, Lincoln Terrace/Arthur S. Somers Park, only two short blocks away. Enjoy two large playgrounds, a variety of specialty courts, including baseball, tennis, racket ball and cricket or pack a picnic and escape with a book under a mature tree. Conveniently located near the Brooklyn Public Library, Blink Fitness, major groceries, shops, restaurants and cafes. 248 Rochester Avenue is an easy commute to Manhattan via the 3, 4, A and C subway lines just minutes away.

Property Features