171 Avenue U Brooklyn, NY 11223
Gravesend NeighborhoodEstimated payment $15,403/month
Highlights
- Wood Flooring
- 2-minute walk to Avenue U (N Line)
- Heating System Uses Steam
- P.S. 95 - The Gravesend Rated A-
- Multiple cooling system units
- Back Yard
About This Home
Prime Investment & Owner-User Opportunity in the Heart of Brooklyn’s Gravesend.
Come into a rare opportunity with this pristine mixed-use building, an ideal fit for both owner-users and savvy investors. Nestled in the vibrant core of Gravesend in Brooklyn, this property seamlessly combines residential comfort with prime commercial potential, making it a standout in one of New York’s most dynamic neighborhoods. The upper floors, comprising the 2nd and 3rd levels, house two spacious free-market apartments, each offering three bedrooms and designed to attract premium tenants. With modern finishes and ample natural light, these units offer both style and convenience, enhancing the building’s appeal and rental value.
On the ground floor, a fully equipped retail space awaits – the perfect turnkey solution for a food production business or restaurant commissary. Boasting an impressive commercial kitchen build-out, this space includes ready hook-ups for high-capacity stoves, grills, walk-in freezers, and chillers, all serviced by a code-compliant exhaust system extending to the roof. This level’s setup is crafted to meet the demands of Brooklyn’s bustling food scene, whether for a new venture or an expanding business. With a proforma annual rental income of $109,652 and projected expenses, including real estate taxes, estimated at $19,776, the building promises a strong financial outlook. A projected Net Operating Income of $89,876 underlines this property's remarkable investment potential. This mixed-use gem in Gravesend is more than just a property; it’s a pathway to growth, community connection, and entrepreneurial success in the heart of Brooklyn.
Listing Agent
Victor Li
Property Details
Property Type
- Other
Est. Annual Taxes
- $7,676
Year Built
- Built in 1931
Lot Details
- Lot Dimensions are 80 x 20
- Back Yard
Home Design
- Mixed Use
- Brick Exterior Construction
Interior Spaces
- 3-Story Property
- Basement Fills Entire Space Under The House
Flooring
- Wood
- Laminate
- Ceramic Tile
Utilities
- Multiple cooling system units
- Heating System Uses Steam
- Heating System Uses Gas
- Gas Water Heater
Listing and Financial Details
- Tax Block 7099
Community Details
Overview
- 2 Units
Building Details
- Insurance Expense $7,700
- Gross Income $109,652
- Net Operating Income $89,876
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $7,676 | $71,940 | $13,800 | $58,140 |
| 2023 | $7,387 | $81,300 | $13,800 | $67,500 |
| 2022 | $7,175 | $73,260 | $13,800 | $59,460 |
| 2021 | $7,474 | $66,480 | $13,800 | $52,680 |
| 2020 | $3,506 | $67,320 | $13,800 | $53,520 |
| 2019 | $6,663 | $67,320 | $13,800 | $53,520 |
| 2018 | $6,179 | $30,312 | $7,456 | $22,856 |
| 2017 | $6,106 | $29,952 | $7,900 | $22,052 |
| 2016 | $5,917 | $29,596 | $9,363 | $20,233 |
| 2015 | $3,408 | $27,924 | $10,598 | $17,326 |
| 2014 | $3,408 | $26,541 | $12,088 | $14,453 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/09/2025 04/09/25 | Price Changed | $5,500 | +10.0% | $6 / Sq Ft |
| 04/01/2025 04/01/25 | For Rent | $5,000 | 0.0% | -- |
| 10/30/2024 10/30/24 | For Sale | $2,650,000 | -- | $883 / Sq Ft |
Deed History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | -- | -- | |
| Deed | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Deed | -- | -- | |
| Deed | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $499,900 | Commercial |
Source: Brooklyn Board of REALTORS®
MLS Number: 486969
APN: 07099-0043
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