REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,150,000
Est. payment | /mo
6 Beds
2 Baths
3,300 SqFt
$ 1,150,000
Est. payment | /mo
6 Beds
2 Baths
3,300 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,300 sqft
Price per Sqft $348
MLS Listing ID 11908946
Style Mid-rise
Bedrooms 6
Full Baths 2
Year Built 1930
Annual Tax Amount $2,445
Property Description
Mixed-Use Investment Opportunity | Restaurant + Residential | Over 10.6% Pro Forma Cap Rate Presenting an excellent opportunity to acquire a mixed-use investment property in the heart of East New York, Brooklyn. This well-located building features a ground-floor commercial restaurant space with two spacious residential apartments above, providing a diversified income stream and strong long-term investment potential. The property consists of: Ground-floor restaurant/commercial space Two 3-bedroom, 1-bath residential apartments Full basement One residential unit is scheduled to be delivered vacant, offering immediate upside for an owner-user or the opportunity to lease at market rent. Currently generating approximately $123,600 in annual gross income, with projected income of over $138,000 annually based on market rents. Investment Highlights Projected 10.68% Cap Rate Projected NOI: $122,865 Purchase Price: $1,150,000 R6, C1-3 Zoning 20' x 81.33' Lot Approximately 3,600 SF Building Built in 1930 Mixed-use asset with residential and commercial income Value-add opportunity through lease-up and rent optimization Conveniently located on New Lots Avenue, the property enjoys excellent visibility and foot traffic while offering easy access to public transportation, major roadways, neighborhood shopping, and local amenities. The commercial storefront benefits from a vibrant retail corridor, while the residential units remain in strong demand. Whether you're an investor seeking stable cash flow or looking to add a high-performing mixed-use asset to your portfolio, 334 New Lots Avenue offers an outstanding combination of current income, upside potential, and long-term appreciation. Contact us today for the complete financial package, rent roll, and to schedule a private tour.
Location
State NY
County 36047
Rooms
Basement Full
Dining Room 0
Kitchen Open
Building
Story 3
Sewer Municipal
Water Municipal
Structure Type Masonry - Brick
NEARBY SCHOOL & BUSINESS