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557 Chester St
Brooklyn, NY 11212

Retail Property For Sale

Investment Highlights

  • Strong In Place Cap Rate (7.4%)
  • Offers An Additional 1,200 Buildable Square Feet (As-Of-Right)
  • Low Property Taxes

PROPERTY FACTS

Property Type
Retail
Property Subtype
Convenience Store
Building Size
3,200 SF
Building Class
C
Year Built
1930
Building Height
2 Stories
Building FAR
1.22
Lot Size
0.06 AC
Zoning
R6
Parking
10 Spaces per 1,000 SF Leased
Frontage
100 ft on Lott Avenue

About 557 Chester St , Brooklyn, NY 11212

Marcus & Millichap is pleased to exclusively present the property located at 557 Chester Street, a corner mixed-use, two-story brick building. The property is located on the southeast corner of Chester Street and Lott Avenue in the Brownsville Section of Brooklyn, New York (Block: 03625; Lot: 0030). The building is built approximately 20 feet by 100 feet on a 20 foot by 100 foot lot. The property offers an additional 1,200 buildable square feet of air rights (As-of-Right) The building is currently comprised of one large residential unit and three stores. The top floor in the two-story building offers a large two-bedroom unit and a one-bedroom unit. While the ground floor has three stores, the barbershop the restaurant and a bar which are all on existing leases with increases in place. The building is located in Brownsville within two blocks walking distance of the 3 Train at Rockaway Avenue. The property is zoned R6.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
03625-0030
Land Assessment
$58,324
Improvements Assessment
$167,714
Total Assessment
$226,038
  • Listing ID: 16621067

  • Date on Market: 2019-07-15

  • Last Updated:

  • Address: 557 Chester St, Brooklyn, NY 11212

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