39 Debevoise Street Brooklyn, NY 11206
Mixed Use
MLS #: 842824
Courtesy Of Keller Williams Landmark II
Property InformationDescription
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.
Features
- Age: 11-20 Years Old
- Architecture Style: Other
- Cooling System: Window Unit(s) A/C
- Exterior Type: Brick
- MLSID: 842824
- Rooms: Basement
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