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248 Avenue P 4,522 SF 33% Leased Office Building Brooklyn, NY 11204 $2,077,365 CAD ($459.39 CAD/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Heavy foot traffic
- Lots of natural lights
- Close to the public transportation
EXECUTIVE SUMMARY
Fully renovated, and structurally exceptional mixed-use brick corner property located on vibrant Avenue P between W 5th and W 6th Streets in the Gravesend/Bensonhurst section of Brooklyn. This high-income producing property encompasses 4,522 sq ft and was fully rebuilt with a new CO in 2005. Recent capital improvements in 2021 include new flat roof with skylights, new Sewer and Water line, new garage door with quiet motor, limestone steps, concrete landing and stucco painting. The House features two medical offices and one spacious residential apartment with potential to be split into two apartments, finished indoor one-car garage with attic storage, wheelchair-accessible lift, separate utilities and private entrances for each unit. Each commercial unit has independent central air and heating systems. Property Features: Cellar/Street Level is occupied by an established podiatry office with a direct entrance, reception area, five exam rooms, 1.5 baths, and ample storage. First Floor: Currently vacant, fully renovated, turn-key medical/ commercial office has large reception area, five exam rooms with en-suite bathroom, handicap bathroom, kitchen, attic storage—ready to accommodate any specialty or business. Second floor Residential Unit is Currently Vacant, 2025 renovated, 1,500 sq ft 3-bedroom, 1-bath apartment featuring hardwood floor, new kitchen and bathroom, new stainless-steel appliances, kitchen cabinets and countertop. Sold AS IS Projected NOI is $112,350, delivering a solid 7.5% cap rate plus—making this a smart, income-driven investment. Nearby transportation: N and F train, B4, B6 and B82 busses.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Building Size
4,522 SF
Building Class
C
Year Built/Renovated
1935/2025
Price
$2,077,365 CAD
Price Per SF
$459.39 CAD
Cap Rate
7.50%
NOI
$155,802 CAD
Percent Leased
33%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
1,507 SF
Building FAR
2.60
Lot Size
0.04 AC
Zoning
R5B - Medium density district with a height limit of 40 feet
Parking
1 Spaces (0.22 Spaces per 1,000 SF Leased)
AMENITIES
- Fenced Lot
- Skylights
- Wheelchair Accessible
- Reception
- Storage Space
- Air Conditioning
- Fiber Optic Internet
- Smoke Detector
1 1
Walk Score®
Walker's Paradise (93)
Transit Score®
Rider's Paradise (93)
PROPERTY TAXES
| Parcel Number | 06626-0010 | Total Assessment | $483,954 CAD |
| Land Assessment | $67,338 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $416,616 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
06626-0010
Land Assessment
$67,338 CAD
Improvements Assessment
$416,616 CAD
Total Assessment
$483,954 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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248 Avenue P
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