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Two Contiguous Buildings | 17 Apartments & 2 Commercial | 21,198 SF | FOR SALE

$8,330,000

499-503 Evergreen Avenue, Brooklyn, NY 11221

Active
Last Updated: 06/24/2025

7.1

Cap Rate

21,198 sqft

Combined Building Size

Details:
Cap Rate:    7.1%
Combined Building Size :    21,198 sqft
Units:    19
GRM:    11
Lease Type:    Absolute Net
Price Per Sqft:    $406
Zoning:    C2-3
Highlights:
  • Two contiguous 4-story elevator buildings consisting of 17 apartments and 2 commercial spaces
  • Amenities in the building include: Dog Spa, Storage & Laundry room, and Rooftop access
  • The 35 year tax abatement (70/30) was commenced in 2022
  • The Commercial Tenant is on a NNN lease ( Pays all utilities including their portion of the Taxes)
  • Commercial occupies a total of 7,850 total sqft both ground and lower level floor
  • The commercial occupies both 499 & 503 Evergreen Ave
  • Link to commercial space: https://thelearningfactorychildcare.com/
  • The property is located in the Bushwick section of Brooklyn, near shopping, dining and entertainment options
  • Within walking distance to the Chauncey Street Station ( J Ztrains)
Map:
Location
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