332 Kings Highway Brooklyn NY 11223 MLS #497478

Brooklyn’s Best Corner Commercial Investment Building For Sale. Welcome to an exceptional income -producing opportunity in a Prime Bensonhurst location. This solid corner FREE MARKET brick property spans over 6414 square feet with 3 stories , 23 feet by 93 feet long of fine colorful yellow brick and architecture & a 11 foot black entrance door door to residence entry. The residential units consist of FOUR 2 bedroom renovated apartments and a 1650 square foot first floor duplex featuring 3 bedrooms,2 full bathrooms,2 living rooms,2 kitchens, a home office ideal for the virtual business person. Commanding a a premium rental income.
In Addition Store # 1 is a Prime Corner KINGS HIGHWAY Hair Salon with 20 feet front & 16 feet side windows exposure can be seen from a block away. Excellent Income of $5047. per month plus Sept 2026 the Real Estate tax of 25 % kicks in of the the current then R.E. tax to be paid by the store tenant.
Store # 2 has a independent new store front currently a medical billing office on the side building. The current rent is $2912. which includes partial front half of basement . The rental income is $ 2912. per month.
Currently the building income is $259,008. with expenses of approximately $38,000.. NOI $221,000.
With moderate rent increases for next year $279,000. All tenants are only 2 persons per apartment…..
Easily can offer much higher potential rental income with more # of individuals renting in the apartment..
The potential upside to building up 6-7 stories , zoning R7A-2 commercial inlay. To build Condos.
ALL Functional building equipment has been replaced in the past 5 years. New – Gas heating system,43 Windows, New EPDM roof, upgraded electric per apartment, hallway painted. , brick pointing, steam cleaning , outside concrete.
If you are an investor seeking a stable investment with dependable rents and low building maintenance this is your opportunity you won’t want to miss .. Owner will consider holding some financing.