Mixed-Use

112 Harrison Place

112 Harrison Pl, Brooklyn, NY 11237

Listing Price: $3,000,000

Cap Rate
3.92%
Number of Units
5
Price/Unit
$600,000
Price/Gross SF
$631.58
Gross SF
4,750

Investment Overview

Marcus & Millichap is pleased to present the Exclusive Listing located at 112 Harrison Place, is a three-story brick mixed-use building located on the corner of Harrison Place and Porter Avenue in the East Williamsburg section of Brooklyn, New York (Block: 03004-0029). The building is built out approximately 5,250 square feet, and sits on a 2,500 square foot lot.

The property is currently comprised of four residential units and a retail unit. All the apartments are four-bedroom, front-back units. All of the apartments are very spacious and free market. Because all of the units are free market in a strong location, the landlord has seen great collections throughout the pandemic as well. There is also a large full lot retail unit. Currently, the unit being rented a bit below market at $3,800 per month which is under $30 per rentable square foot. Given the vacancy in the apartment, an owner has the opportunity to increase the rent to market rate.

The property is in great condition and has been very well maintained over the course of current ownership. The building is located in East Williamsburg within walking distance to the "L", "M", "J" and "Z" trains at multiple nearby subway stations. The property is currently zoned M1-1.

Investment Highlights

  • Prime East Williamsburg Location
  • Brick Construction Totaling Approximately 5,250 Square Feet
  • Offers Four Free Market Residential Units and a Large Storefront

Exclusively Listed By

Listing Price: $3,000,000

Cap Rate
3.92%
Number of Units
5
Price/Unit
$600,000
Price/Gross SF
$631.58
Gross SF
4,750

Investment Highlights

  • Prime East Williamsburg Location
  • Brick Construction Totaling Approximately 5,250 Square Feet
  • Offers Four Free Market Residential Units and a Large Storefront

Investment Overview

Marcus & Millichap is pleased to present the Exclusive Listing located at 112 Harrison Place, is a three-story brick mixed-use building located on the corner of Harrison Place and Porter Avenue in the East Williamsburg section of Brooklyn, New York (Block: 03004-0029). The building is built out approximately 5,250 square feet, and sits on a 2,500 square foot lot.

The property is currently comprised of four residential units and a retail unit. All the apartments are four-bedroom, front-back units. All of the apartments are very spacious and free market. Because all of the units are free market in a strong location, the landlord has seen great collections throughout the pandemic as well. There is also a large full lot retail unit. Currently, the unit being rented a bit below market at $3,800 per month which is under $30 per rentable square foot. Given the vacancy in the apartment, an owner has the opportunity to increase the rent to market rate.

The property is in great condition and has been very well maintained over the course of current ownership. The building is located in East Williamsburg within walking distance to the "L", "M", "J" and "Z" trains at multiple nearby subway stations. The property is currently zoned M1-1.

Exclusively Listed By

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