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1637 Sheepshead Bay Road
Sheepshead Bay, New York
$7,495,000 Price
7 Bedrooms   4.0 Baths
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1637 Sheepshead Bay Road, Sheepshead Bay, New York

Premier Mixed-Use Investment Opportunity in Sheepshead Bay Discover unparalleled potential at 1637 Sheepshead Bay Road, a versatile mixed-use property situated in one of Brooklyn’s most vibrant and high-traffic neighborhoods. This expansive property offers incredible income-generating opportunities and untapped redevelopment potential, making it perfect for investors,...

Premier Mixed-Use Investment Opportunity in Sheepshead Bay Discover unparalleled potential at 1637 Sheepshead Bay Road, a versatile mixed-use property situated in one of Brooklyn’s most vibrant and high-traffic neighborhoods. This expansive property offers incredible income-generating opportunities and untapped redevelopment potential, making it perfect for investors, developers, and visionaries alike. Property Details: • Lot Size: 50 ft x 177 ft | Zoning: C4-2 • Building Size: 13,149 SF • Ground Floor & Lower Level: Commercial Unit (Owner-occupied by Monica’s Bridal, can be delivered vacant) • Second Floor: 4 Residential Units (Three 2-bedroom apartments and one 1-bedroom apartment) • Offering Price: $7,495,000 Highlights: • Development Opportunity: With additional FAR available, bring your architect to explore redevelopment options and unlock the full potential of this property. • Prime Commercial Space: The ground floor, currently home to the renowned Monica’s Bridal, is ideal for a new commercial tenant or a complete reimagining of the space. • Location, Location, Location: Situated on bustling Sheepshead Bay Road, this property boasts 50 ft of frontage and is surrounded by major retailers like Chase Bank, Starbucks, CVS, and Stop & Shop. Neighborhood Features: • High-traffic area with easy access to public transportation, including the N, B subway lines and multiple bus routes. • Close proximity to shopping, dining, and amenities in a thriving Brooklyn community. Financial Overview: • Total Annual Income (Apartments + prospective NNN Lease): $560,550 • Annual Operating Expenses: • Insurance: $13,000 • Water: $1,500 • Sprinkler/Fire Alarm: $2,000 • Real Estate Taxes: $88,589 • Total Expenses: $105,089 • Net Operating Income (NOI): $445,461 CAP Rate: 6% Whether you’re looking to capitalize on steady income, secure a high-demand commercial location, or embark on a redevelopment project, 1637 Sheepshead Bay Road offers the flexibility and potential to meet your goals. The development possibilities, combined with its prime location and stable income, make it a rare and attractive investment. Contact us today to explore this unique opportunity!

Courtesy of Nest Seekers LLC

Floorplan for 1637 Sheepshead Bay Road

Floorplan for 1637 Sheepshead Bay Road

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* All information furnished regarding property for sale, rental, financing or estimated mortgage rates is from sources deemed reliable but no warranty or representation is made as to the accuracy thereof. For further financing information, please contact a Brown Harris Stevens agent.

Listing Details

New Listing
Sheepshead Bay, New York
Type:
Price: $7,495,000
Date Listed: 12/5/2024
Last Updated: 12/17/2024
Web ID: 1097288204

Info & Amenities

Rooms: 9.0
Bedrooms: 7
Bathrooms: 4.0
Built: 1927
Pets allowed: Yes

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., All rights reserved.

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