3
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$2,680,000
Est. payment /mo
2,500 Sqft Lot
Price Dropped by $20K
39 Debevoise ST Brooklyn, NY 11206
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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID KEY842824
Originating Board onekey2
Rental Info No
Year Built 2011
Annual Tax Amount $60,583
Lot Size 2,500 Sqft
Acres 0.0574
Property Sub-Type Mixed Use
Property Description
We are pleased to offer a high-performing mixed-use property located in the heart of Williamsburg, Brooklyn — one of New York City's most dynamic and desirable neighborhoods for both residential and commercial tenancy.
Constructed in 2000 and meticulously maintained, this three-story asset comprises a ground-floor retail space currently occupied by a long-standing deli operator, one full-floor 3-bedroom residential unit, and four 1-bedroom apartments. All units are separately metered, with clean utility separation and low-maintenance common areas. Importantly, there are no leases in place, presenting a rare opportunity for immediate repositioning to market rents in an area experiencing sustained demand and limited supply.
The property generates a gross annual income of $246,000, with modest operating expenses totaling $85,384. After accounting for a standard 5% vacancy reserve, the net operating income stands at approximately $148,316. Based on a 5.5% capitalization rate, this implies a market valuation in the range of $2.7 million.
Financing scenarios at 75% loan-to-value and a 6% interest rate project a strong cash-on-cash return, with ample debt coverage supported by in-place income.
Williamsburg continues to attract a diverse and affluent tenant base, driven by its unique blend of residential appeal, retail vibrancy, and transit accessibility. This asset is exceptionally positioned to benefit from the neighborhood's long-term trajectory, offering both immediate cash flow and long-range value appreciation.
Constructed in 2000 and meticulously maintained, this three-story asset comprises a ground-floor retail space currently occupied by a long-standing deli operator, one full-floor 3-bedroom residential unit, and four 1-bedroom apartments. All units are separately metered, with clean utility separation and low-maintenance common areas. Importantly, there are no leases in place, presenting a rare opportunity for immediate repositioning to market rents in an area experiencing sustained demand and limited supply.
The property generates a gross annual income of $246,000, with modest operating expenses totaling $85,384. After accounting for a standard 5% vacancy reserve, the net operating income stands at approximately $148,316. Based on a 5.5% capitalization rate, this implies a market valuation in the range of $2.7 million.
Financing scenarios at 75% loan-to-value and a 6% interest rate project a strong cash-on-cash return, with ample debt coverage supported by in-place income.
Williamsburg continues to attract a diverse and affluent tenant base, driven by its unique blend of residential appeal, retail vibrancy, and transit accessibility. This asset is exceptionally positioned to benefit from the neighborhood's long-term trajectory, offering both immediate cash flow and long-range value appreciation.
Location
State NY
County Kings (brooklyn)
Rooms
Basement Finished, Walk-Out Access
Interior
Heating Natural Gas
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Utilities Available None
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Special Listing Condition None
Listed by Keller Williams Landmark II
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