Free Market Mixed-Use Building Priced Below $1M | Midwood
1324 Flatbush Avenue
Midwood/Flatlands
$995,000
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646-427-2290
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Overview
TerraCRG has been retained to exclusively represent ownership in the sale of 1324 Flatbush Avenue – a mixed-use building in the Midwood neighborhood of Brooklyn.
The ~2,200 SF property consists of two free-market 1-bedroom apartments and one store which is occupied by a real estate office. 1324 Flatbush Ave has a gross annual rent roll of ~$81,360 and a net operating income of ~$67,238 after expenses. It benefits from very low expenses due to its tax-class protected status.
The property is ideally located on the busy Flatbush Avenue retail corridor, close to Brooklyn College and the Flatbush Av and Newkirk Av subway stations, which service the 2 and 5 lines.
Attractions
The neighborhood Midwood is among the most desirable of Brooklyn, generally comprised of families attracted to city life, but who also enjoy the quiet streets filled with row houses, gardens, porches, and welcoming neighbors. Institutions like Brooklyn College and the restored Kings Theatre add to the vibrancy of the area, while its proximity to a number of subway and bus lines, as well as the Flatbush and Nostrand Avenue retail corridors make it a convenient and accessible destination.