203 Avenue U, Brooklyn, NY, 11223

Address

203 Avenue U, Brooklyn, NY

Listing Type

Mixed Use

Price

$ 2,950,000

Your Agent

Cary Raffle

Licensed Real Estate Associate Broker

Cell: 917-603-3813

Property Attributes

MLS#502747
TypeMixed Use
Listing Status Active
CountyKINGS
CityBrooklyn
AreaBrooklyn
NeighborhoodGravesend
Zip11223
StyleMixed Use
Year Built1928
Taxes$ 65406
Price$ 2,950,000
Bedrooms0
Full Bathrooms0
Half Bathrooms0
Sqr Footage8500
Lot Size0.045914 Acres

Data Source:

Brooklyn MLS (BNYMLS)

Property Description

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 commercial 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 gross income of approximately 275k and an 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.

Price History
7/3/2026	Listed $2,950,000

General Features

Net Operating Income	176876.72
Roof	Flat
Zoning	R5B
Electric	110 V
Stories Count	4
Property Type	Mixed Use
Block	7100
Cap Rate	0.06
Lot Number	39
Yearly Taxes	65406.00
Transaction Type	Sale
Insurance Expense	10736.00
Utility Expense	1200.00
Gross Expense	95326.00
Financing	Bank Mortgage,Cash
Building Type	Semi-Detached
Gross Income	272203
Status	Active
Fuel Expense	9988.00
Construction Materials	Brick
Cumulative Days on Market	75
MLS Area	Gravesend
Sub Type	Mixed Use
Year Built	1928
City	Brooklyn
Borough	Brooklyn
Number Of Stores	2
DOM	75
Sale Type	Arm's Length
# Families	6
Public Remarks	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

Interior Features

Heating Fuel	Gas
Flooring	Hardwood,Tile
Hot Water	Gas
Unit Count	8
Sq Ft Total	8500
Lavatories	None
Basement Amenities	Other
Commercial Features Exterior	None
Commercial Features Interior	None

Exterior Features

Exterior	Brick,Other
Yard	None
Foundation	Poured Concrete
Lot Sq Ft	2000
Loading Docks	None
Building Length	100.00
Building Width	20.00
Property Panorama YN	Yes
Lot Size Length	100
Lot Size Width	20
Parking Attrib	None