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  2. 7404 3rd Avenue
  • 7404 3rd Avenue
  • $ 3,600,000
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209

7404 3rd Avenue

Bay Ridge

Building For Sale
$ 3,600,000
Ownership Mixed Use
Lot Size 40'x60'
Status Active
Real Estate Taxes [Per Annum] $ 24,296
Building Size 40'x60'
Year Built 1939
ASF/ASM 7,400/687
 

Photos

7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209

Maria Castellano

License Licensed As: Maria Castellano

Licensed Real Estate Broker/Owner


W: 718-236-1800
M: 917-318-1775
7404 3rd Avenue Bay Ridge Brooklyn NY 11209

Property Description

Rare street-corner mixed-use building offers both residential and commercial spaces, located in the heart of Bay Ridge’s vibrant 3rd Avenue business district. With excellent visibility, close proximity to the subway, and convenient transportation options, this property promises strong rental income and stable cash flow. The building sits on a 3,200 sqft lot, with a 40 × 60 ft lot. The residential portion includes a 4-bedroom, 2-bath unit on the second floor (1,800 sqft, delivered vacant), a fully renovated (approx. 5 years ago) 5-bedroom, 1-bath, 2-bath unit on the third floor, and a newly renovated 4-bedroom, 1-bath, 2-bath unit at the back of the second floor. The commercial section features two prime retail spaces on the corner, offering excellent street exposure. The property generates a total rental income of $20,430/month, or $245,160/year. Operating expenses are $35,296 annually, resulting in a Net Operating Income (NOI) of $209,864/year, with a cap rate of 5.83%. Each unit has separate heating and hot water systems, adding flexibility for both residential and commercial tenants. With stable tenants and strong cash flow, this is a must-see investment opportunity!
Rare street-corner mixed-use building offers both residential and commercial spaces, located in the heart of Bay Ridge’s vibrant 3rd Avenue business district. With excellent visibility, close proximity to the subway, and convenient transportation options, this property promises strong rental income and stable cash flow. The building sits on a 3,200 sqft lot, with a 40 × 60 ft lot. The residential portion includes a 4-bedroom, 2-bath unit on the second floor (1,800 sqft, delivered vacant), a fully renovated (approx. 5 years ago) 5-bedroom, 1-bath, 2-bath unit on the third floor, and a newly renovated 4-bedroom, 1-bath, 2-bath unit at the back of the second floor. The commercial section features two prime retail spaces on the corner, offering excellent street exposure. The property generates a total rental income of $20,430/month, or $245,160/year. Operating expenses are $35,296 annually, resulting in a Net Operating Income (NOI) of $209,864/year, with a cap rate of 5.83%. Each unit has separate heating and hot water systems, adding flexibility for both residential and commercial tenants. With stable tenants and strong cash flow, this is a must-see investment opportunity!

Listing Courtesy of E House Realty & Mgt. Inc.

Maria Castellano

License Licensed As: Maria Castellano

Licensed Real Estate Broker/Owner


W: 718-236-1800
M: 917-318-1775

Care to take a look at this property?

Apartment Features

Exposed Bricks
Hardwood Floors
7404 3rd Avenue Bay Ridge Brooklyn NY 11209
7404 3rd Avenue Bay Ridge Brooklyn NY 11209

Building Details [7404 3rd Avenue]

Ownership Mixed Use
Block/Lot 5928/39
Building Size 40'x60'
Zoning R6B
Year Built 1939
Floors 3
Lot Size 40'x60'

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Maria Castellano

License Licensed As: Maria Castellano

Licensed Real Estate Broker/Owner


W: 718-236-1800
M: 917-318-1775
BNYMLS All information furnished regarding this or any property listed for sale or rent is gathered from sources deemed reliable. Though we have no reason to doubt the accuracy or validity of this information, we make no warranty or representation as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or withdrawal without notice. It is strongly recommended that the prospective purchaser or tenant shall carefully review each item of size, dimensions, real estate taxes, expenses, legal use and any other information presented herein.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
MLSID: 495979