Two Contiguous Buildings | 17 Apartments & 2 Commercial | 21,198 SF | FOR SALE
$8,600,000
499-503 Evergreen Avenue, Brooklyn, NY 11221
For Sale
Multifamily
Active
Last Updated: 04/18/2025
7.1
Cap Rate
21,198 sqft
Combined Building Size
Details:
Cap Rate: 7.1%
Combined Building Size : 21,198 sqft
Units: 55
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)
Location

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