Multifamily
Auction - Free Market Mixed-Use Asset
1137 Flatbush Ave, Brooklyn, NY 11226
Starting Bid: $500,000
Investment Overview
Register to Bid and access due diligence documents on RealINSIGHT Marketplace: https://rimarketplace.com/auction/3280
Marcus & Millichap is pleased to present 1137 Flatbush Avenue, a 5,170 SF mixed-use building in the Flatbush neighborhood of Brooklyn, New York. The property contains four free market residential units — two 2-bedroom and two 3-bedroom — along with 1,700 SF of ground-floor commercial space leased through January 2031. All residential units are 100% free market with no rent stabilization, offering an incoming investor full flexibility to drive rents toward the pro forma average of $2,600 per month. The asset is zoned R7A/C2-4A with a 4.0 maximum FAR and 3,672 SF of available air rights, supporting potential vertical expansion. Situated along one of Brooklyn's most active commercial corridors with direct access to the 2 and 5 subway lines at the Flatbush Ave–Brooklyn College station, the property offers institutional-quality fundamentals at a small-building price point.
Auction - Free Market Mixed-Use Asset
Investment Highlights
- Auction - Aug 3-5, 2026 | Starting Bid: $500,000
- Mixed-Use Brooklyn Building — 4 over 1: Four free market residential units above 1,700 SF of occupied ground-floor commercial space
- 100% Free Market — No Rent Stabilization: All four residential units are free market, offering full flexibility to mark rents to market.
- Residential Rent Upside to $2,600/Unit: Current avg of $2,211/month trails pro forma by $389/unit, providing clear and immediate upside.
- 3,672 SF of Unused Air Rights In Place: R7A/C2-4A zoning with 4.0 max FAR supports meaningful future development or vertical expansion.
- Flatbush Ave Retail — Leased Through 2036: 1,700 SF commercial space generates $6,300/month, leased to a single operator through Jan 2036.
- 2/5 Subway Access Steps from the Building: The Flatbush Ave–Brooklyn College station puts riders on the 2 and 5 lines within a short walk.
Starting Bid: $500,000
Investment Highlights
- Auction - Aug 3-5, 2026 | Starting Bid: $500,000
- Mixed-Use Brooklyn Building — 4 over 1: Four free market residential units above 1,700 SF of occupied ground-floor commercial space
- 100% Free Market — No Rent Stabilization: All four residential units are free market, offering full flexibility to mark rents to market.
- Residential Rent Upside to $2,600/Unit: Current avg of $2,211/month trails pro forma by $389/unit, providing clear and immediate upside.
- 3,672 SF of Unused Air Rights In Place: R7A/C2-4A zoning with 4.0 max FAR supports meaningful future development or vertical expansion.
- Flatbush Ave Retail — Leased Through 2036: 1,700 SF commercial space generates $6,300/month, leased to a single operator through Jan 2036.
- 2/5 Subway Access Steps from the Building: The Flatbush Ave–Brooklyn College station puts riders on the 2 and 5 lines within a short walk.
Investment Overview
Register to Bid and access due diligence documents on RealINSIGHT Marketplace: https://rimarketplace.com/auction/3280 Marcus & Millichap is pleased to present 1137 Flatbush Avenue, a 5,170 SF mixed-use building in the Flatbush neighborhood of Brooklyn, New York. The property contains four free market residential units — two 2-bedroom and two 3-bedroom — along with 1,700 SF of ground-floor commercial space leased through January 2031. All residential units are 100% free market with no rent stabilization, offering an incoming investor full flexibility to drive rents toward the pro forma average of $2,600 per month. The asset is zoned R7A/C2-4A with a 4.0 maximum FAR and 3,672 SF of available air rights, supporting potential vertical expansion. Situated along one of Brooklyn's most active commercial corridors with direct access to the 2 and 5 subway lines at the Flatbush Ave–Brooklyn College station, the property offers institutional-quality fundamentals at a small-building price point.
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