374 Myrtle Ave
Brooklyn, NY 11205
Commerce de détail Propriété À vendre

374 Myrtle Avenue represents a rare opportunity to acquire a fully free-market, mixed-use asset in the heart of Fort Greene, one of Brooklyn’s most resilient and supply-constrained neighborhoods. Located along the high-traffic Myrtle Avenue corridor, the property places future ownership directly within a vibrant residential and commercial enclave surrounded by national and local tenants, steady pedestrian activity, and exceptional transit connectivity. With foot traffic exceeding 10,000 pedestrians per day and immediate access to the G, B, D, N, Q, R, 2, 3, 4, and 5 subway lines, the property offers unrivaled accessibility across the five boroughs and ensures stable long-term tenant demand.
The four-story building features a ground-floor commercial space to be delivered vacant, presenting unique optionality for end-users or investors seeking to reposition and enhance cash flow. Above, three free-market, two-bedroom residential units offer modern finishes and strong rental appeal, with in-place rents providing substantial upside relative to market comparables. Unit 1 further benefits from a private 325-square-foot outdoor terrace, adding desirable lifestyle value. The asset is protected under Tax Class 2A, offering significant predictability through capped annual tax increases and long-term stability for underwriting projections.
With approximately 3,856 existing square feet and additional air rights enabling up to 7,330 buildable square feet under UAP, the property offers long-range flexibility for future expansion or redevelopment. Its combination of protected tax status, free-market tenancy, vacant commercial space, and embedded value-add potential makes 374 Myrtle Avenue a compelling offering for investors seeking durable income, long-term appreciation, and footprint growth in a premier Brooklyn submarket. This is a strategically located mixed-use building ideal for both stabilized portfolio additions and creative repositioning strategies.