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Type:
Mixed Use
Sq Ft:
5,300
Units:
Property Description
Investment Property Realty Group (IPRG) has been exclusively retained to sell 886 Franklin Avenue, a prime investment opportunity in the vibrant Crown Heights section of Brooklyn. Situated on the bustling retail corridor of Franklin Avenue between President Street and Carroll Street, this property is ideally positioned for strong retail and residential upside.
Property Highlights
- Residential Units: Four fully renovated, free-market apartments, offering immediate rental income potential.
- Commercial Space: A retail space currently occupied by a pharmacy, spanning slightly under 2,250 square feet with a small private yard in the rear. The building extends 90 feet deep, maximizing usable space.
- Prime Location: Steps from iconic Brooklyn landmarks, including Prospect Park, Brooklyn Botanic Garden, and Brooklyn Museum, with excellent subway access to the 2, 3, 4, and 5 trains for a seamless commute to Manhattan.
- Neighborhood Growth: Crown Heights has undergone significant transformation, evolving into a sought-after destination with thriving retail, dining, and cultural scenes, ensuring strong future appreciation and rental demand.
- Development Potential: Approximately 10,000 square feet of additional air rights, offering substantial opportunities for future expansion or redevelopment.
This property presents a unique chance to invest in one of Brooklyn’s most dynamic neighborhoods, with immediate cash flow from renovated apartments and a stable retail tenant, coupled with significant upside potential through future development. Contact IPRG for more details.
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Block & Lot:
01188-0055
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Neighborhood:
Crown Heights
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Cross Streets:
Franklin Avenue & Carroll Street
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Building Dimensions:
25 ft x 61 ft
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Lot Dimensions:
25 ft x 100 ft
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Units:
5
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Total Approx. SF:
5,300
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Zoning:
R8X, C2-4
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FAR:
6.02
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Tax Class:
2A
