Proudly presenting 574 Metropolitan Ave, a Mixed-use Dream in Prime Williamsburg for both investors and user-operators. Projecting 5.6% cap rate in the Summer of 2024! The existing turnkey property is configured as (3x) residential units with one (1x) retail space spanning 20 ft. wide and 75 ft. deep. This enchanting, semi-detached mixed-use building in flawlessly condition is perched on one of the most desirable, and visible blocks in Brooklyn. Set on 24.75' X 75.08' lot, the retail space spans approximate 20' X 75' and showcases a street-level entrance with soaring ceilings. Currently home to Vestige Tattoo Studio, the lease expires May 31, 2024. Above the storefront, there are three (3x) recently-renovated, high-income producing apartments: two (2x) 4 bedroom, 2 bath units (leases ending Oct 31, 2023 & June 30, 2024, respectively) over an owner-occupied studio. An astounding 4.0 Max FAR allows for 4,050 SF available for expansion (total 7,432 SF allowed). The property, being in an opportunity zone with its favorable Tax Class (1) status, allows for both remarkably low expenses and limitless opportunities for the foreseeable future! Considering its prime location right off the BQE & L/G subway stations on Lorimer St / Union Ave, ample street parking, and high-visibility signage, this property offers unparalleled visibility and accessibility. Whether you're looking for a high-end retail tenant or start a new business (or expand your existing one), this property is the ideal location for your next venture! Surrounded by a diverse range of prime commercial and residential real estate in Williamsburg, the foot traffic is simply unparalleled!
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