726 Nostrand AVE Active Save Request In-Person Tour Request Virtual Tour
Brooklyn,NY 11216
Key Details
Property Type Other Rentals
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 6,688 sqft
Price per Sqft $224
MLS Listing ID 489563
Year Built 1931
Annual Tax Amount $25,331
Property Sub-Type Mixed Use
Property Description
This spacious mixed-use building located in the heart of North Crown Heights, Brooklyn. Built in 1931, the structure stands four stories tall, with three floors of residential apartments above a commercial space. The term "oversized" is fitting; the lot measures 3,045 sq ft (21.75' by 140'), while the building itself spans 6,699 sq ft. Additionally, the R7 zoning allows for another 2,436 sq ft to be developed on the lot.
The residential section of the building is rent-stabilized, but the value of a mixed-use property is often determined by the quality of its commercial space, and impressive retail area. The commercial space measures 21 feet in width and 117 feet in depth. Remarkably, despite its expansive size, the first floor has no interior supporting walls, and all partitions are movable. This creates a 2,457 sq ft open floor plan, a rare and highly attractive feature for any business.
The rear of the building includes a one-story extension, and there is still a sizable outdoor lot area measuring 23'x21'. While many retail markets have struggled due to the rise of online shopping, there are two types of businesses that can't be replaced by the internet: restaurants and hair salons. You can't dine at home, and you can't cut hair over a computer.
The commercial space has been home to a hair salon for 29 years. Its vast size, lack of supporting columns, and single-story extension make it an ideal candidate for conversion into a restaurant or bar.
Location
State NY
County Kings (brooklyn)
Area Crown Heights
Zoning R6A
Rooms
Basement Full
Interior
Interior Features Other
Hot Water Gas
Heating Gas
Flooring Hardwood,Tile
Heat Source Gas
Exterior
Exterior Feature Brick
Roof Type Flat
Building
Story 3
Foundation Poured Concrete
Others
Energy Description Gas
Financing 1031 Exchange,Bank Mortgage,Cash