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1890 W 6th St 4,325 SF 100% Leased Retail Building Brooklyn, NY 11223 $2,617,350 CAD ($605.17 CAD/SF) 4.56% Cap Rate
EXECUTIVE SUMMARY
This fully occupied, well-maintained brick mixed-use building in the heart of vibrant Gravesend, Brooklyn, offers an exceptional investment opportunity. Spanning approximately 3,900 square feet across two floors on a 25ft x 100ft lot, this 1931-built property (zoned R5B) features four retail units on the ground floor, including a deli with basement access, and two spacious residential apartments on the second floor (one 3-bedroom, one 2-bedroom, each approximately 975 sq ft). The building generates strong income with a current gross annual income of $131,760 and a projected gross of $149,760 after recommended rent adjustments, yielding a current NOI of $85,542 and a projected NOI of $92,977.18 (based on expenses of $56,782.82, including taxes, utilities, and insurance). Its robust brick construction ensures low maintenance, making it a turnkey asset for investors. Ideally situated near the Avenue U subway station (N and W lines, rated 4.0 with 37 reviews), the property offers excellent accessibility to Manhattan and beyond. Gravesend’s charm shines through with proximity to iconic destinations like L&B Spumoni Gardens, renowned for its square Sicilian pizza and spumoni, as well as Coney Island’s famous boardwalk, amusement parks, and the New York Aquarium, all just a short distance away. This property combines steady cash flow, growth potential, and a prime location in a sought-after Brooklyn neighborhood.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,325 SF
Building Class
C
Year Built
1931
Price
$2,617,350 CAD
Price Per SF
$605.17 CAD
Cap Rate
4.56%
NOI
$119,410 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.65
Lot Size
0.06 AC
Zoning
R5B - R5B
Frontage
AMENITIES
- Air Conditioning
Walk Score®
Walker's Paradise (92)
Transit Score®
Rider's Paradise (97)
Bike Score®
Very Bikeable (70)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 06674-0042 | Improvements Assessment | $345,502 CAD |
| Land Assessment | $78,666 CAD | Total Assessment | $424,168 CAD |
PROPERTY TAXES
Parcel Number
06674-0042
Land Assessment
$78,666 CAD
Improvements Assessment
$345,502 CAD
Total Assessment
$424,168 CAD
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1890 W 6th St
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