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203 Avenue U

Brooklyn, NY 11223
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Bed --

Bed

Bath 0

Bath

SqFt8,500

Sqft

Acres0.05

Acre(Lot)

Great investment opportunity with immediate rental income. The corner retail space is currently vacant, offering an excellent opportunity for an owner-user to establish their own business or lease it for additional income. Don't miss this exceptional mixed-use property located on bustling Avenue U in the heart of Gravesend, Brooklyn. This well-maintained building sits on a 20×100 lot with a full 20×100 building footprint and features 2 ground-floor commercial units plus 6 residential apartments. The residential portion consists of 9 total bedrooms and 6 bathrooms. Two apartments are market-rate (unregulated), offering immediate rental flexibility, while the remaining four units are rent-stabilized, providing stable, reliable income with long-term upside potential. One of the corner co mmercial spaces is currently vacant, presenting an excellent opportunity for an owner-user to establish their business in a highly visible location or for an investor to lease the space at market rent and maximize the property's income potential. Based on full occupancy, the property offers a projected annual net operating income of approximately $176,877, representing an attractive approximately 6% projected cap rate. Ideally situated along the vibrant Avenue U commercial corridor, the property benefits from outstanding visibility, heavy foot traffic, and close proximity to shopping, restaurants, schools, and public transportation. Whether you're looking to occupy the corner retail space, expand your investment portfolio, or acquire a high-performing mixed-use asset with value-add potential, this is a rare opportunity in one of Brooklyn's most sought-after neighborhoods.

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Detail Ic Property Details

Property Type : Residential Income

Price : $2,950,000

AD Id : 87571538

MLS Id : 502747

Lot Size : 0.05 Acre

Living Area Size : 8,500

Tax Amount : 65406.00

Year Built : 1928

County : Kings

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Feature Features

  • Flooring Information

    Hardwood, Tile
  • Roofing Information

    Flat
  • Interior Features

    Roof: Flat Appliances: Gas Water Heater
  • Heating & Cooling

    Has Heating: Yes Heating: Hot Water, Natural Gas

  • Building Information

    Year Built: 1928 Building Area Total: 8500 Construction Materials: Brick Stories: 4 Private Pool: No

  • Lot Information

    Lot Dimensions: 100 x 20 Lot Size Acres: 0.05 Lot Size Square Feet: 2000

  • Listing Price Information

    Listing Price: $2950000

  • Tax Information

    Tax Lot: 39 Tax Block: 7100 Annual Tax: $65406

  • Parking Information

    On Street, None
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
735 Avenue W #L1, Brooklyn, NY, 11223 $180,000 -- 1 455 --
735 Avenue W #6J, Brooklyn, NY, 11223 $254,000 1 1 650 --
735 Avenue W #6M, Brooklyn, NY, 11223 $249,000 1 1 795 --
815 Avenue U, Brooklyn, NY, 11223 $2,100,000 -- -- 3,426 0.05 Acre
2035 7th Street #7F, Brooklyn, NY, 11223 $249,900 -- 1 700 --
2035 7th Street #2F, Brooklyn, NY, 11223 $275,000 -- 1 600 --
2035 7th Street #3J, Brooklyn, NY, 11223 $348,000 1 1 900 --
1962 Coney Island Avenue, Brooklyn, NY, 11223 $2,100,000 -- -- 3,300 0.05 Acre
2400 3rd Street #317, Brooklyn, NY, 11223 $325,000 1 1 825 --
2400 3rd Street #619, Brooklyn, NY, 11223 $275,000 1 1 720 --

The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of the Brooklyn Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright ©2026 Brooklyn MLS. All Rights Reserved.

ByOwner last updated this listing 09/09/2026 @ 05:18

MLS: 502747 LISTED BY: Hang Chen, Tiger Realty 917-708-9966 SOURCE: Brooklyn Board of REALTORS

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