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446 Bay Ridge Parkway

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Address: 446 Bay Ridge Pkwy, Brooklyn, NY 11209, USA

New York & Tri-State + Apartment Buildings

Created date: October 25, 2024

Date last updated: October 25, 2024

Property Description

Presenting 446 Bay Ridge Parkway on historic Doctor's Row. This is a tremendous value-add opportunity. It is located in one of Brooklyn's most desired neighborhoods, Bay Ridge. The property was originally built as a residential townhouse in 1909. It is currently configured as a commercial building with 3 units. You have the potential to convert the property back to a residential home. Converting the property back to a residential home would match the other buildings on historic Doctors Row. This three-story, three-unit property features two medical offices and one two-bedroom residential unit. The offices are both occupied. The residential unit is vacant, turnkey, and ready for immediate occupancy. The first floor is occupied by a podiatrist. It features a waiting room with a reception area, three exam rooms, lab space, one doctor's office, and storage area. The second floor is occupied by a chiropractor. It is currently configured with an open layout, it has a reception and treatment area which can be divided into separate treatment rooms. This floor has an extension and has two offices. The third floor is a residential unit. It possesses high ceilings, incredible light throughout, and original inlaid wood floors. Renovations to residential in adjacent properties have proven that modest upgrades to floor three would generate a significant revenue increase. This is a versatile asset for a savvy investor seeking to both immediate cash flow and acquire an asset with a huge upside. An owner looking to place their business in the building will be well positioned for a bevy of tax benefits. Conveniently located between the bustling retail corridor of 5th Avenue and densely populated residential buildings along 4th Avenue, the location comes with a strong consumer base nearby. Given the increased overall demand in Bay Ridge for mixed-use properties, 446 Bay Ridge Parkway presents a great opportunity for investors to expand a portfolio or for an end user seeking to stop paying rent and start collecting it. Do not miss out on this exceptional chance to acquire a high-potential asset in a sought-after area. Contact us today to learn more about this incredible investment opportunity. Some images are virtually staged for illustrative purposes.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$1,195,000
Year Built:	1909
Lot Size:	2,000.00 Sq ft
Opportunity Zone:	No