203 Avenue U Brooklyn NY 11223 MLS #502747

Great investment opportunity with immediate rental income. The corner retail space is currently vacant, offering an excellent opportunity for an owner-user to establish their own business or lease it for additional income.

Don&#39't miss this exceptional mixed-use property located on bustling Avenue U in the heart of Gravesend, Brooklyn. This well-maintained building sits on a 20×100 lot with a full 20×100 building footprint and features 2 ground-floor commercial units plus 6 residential apartments.
The residential portion consists of 9 total bedrooms and 6 bathrooms. Two apartments are market-rate (unregulated), offering immediate rental flexibility, while the remaining four units are rent-stabilized, providing stable, reliable income with long-term upside potential.
One of the corner commercial spaces is currently vacant, presenting an excellent opportunity for an owner-user to establish their business in a highly visible location or for an investor to lease the space at market rent and maximize the property&#39's income potential. Based on full occupancy, the property offers a projected annual net operating income of approximately $176,877, representing an attractive approximately 6% projected cap rate.

Ideally situated along the vibrant Avenue U commercial corridor, the property benefits from outstanding visibility, heavy foot traffic, and close proximity to shopping, restaurants, schools, and public transportation.

Whether you&#39're looking to occupy the corner retail space, expand your investment portfolio, or acquire a high-performing mixed-use asset with value-add potential, this is a rare opportunity in one of Brooklyn&#39's most sought-after neighborhoods.