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Listing Courtesy of Corcoran Group
$3,375,000
Est. payment /mo
8 Beds
6 Baths
3,380 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 3,380 sqft
Price per Sqft $998
Subdivision Williamsburg
MLS Listing ID RLS20080754
Bedrooms 8
Full Baths 6
HOA Y/N No
Year Built 1901
Annual Tax Amount $8,616
Property Sub-Type Mixed Use
Property Description
The Forray Team at The Corcoran Group is pleased to exclusively present 574 Metropolitan Avenue, a distinguished mixed-use frame building offering exceptional scale, income potential, and long-term upside in the heart of prime Williamsburg. Positioned along one of the neighborhood's most active commercial corridors and moments from McCarren Park, this property presents a compelling opportunity for investors, developers, and end-users seeking a trophy asset in one of Brooklyn's most dynamic markets.
The property spans approximately 3,840 gross building square feet and sits on a 24.75 ft 75.08 ft lot. Zoned R7A with a C2-4 commercial overlay, the asset benefits from a 4.0 FAR and approximately 3,592 square feet of remaining buildable area, allowing for a total buildable of 7,432 square feet. This zoning profile provides meaningful expansion, repositioning, or redevelopment potential. With annual real estate taxes of approximately $8,616 under favorable Tax Class 1 status, the property offers attractive carrying costs relative to its scale and location. Currently offered at a 5.23% Cap Rate.
The building is configured as three residential rental units over a ground-floor & lower level retail space, consisting of a 4-bedroom, 2-bathroom unit over a 4-bedroom, 2-bathroom unit over a studio apartment, with a commercial retail storefront. This layout provides strong income-producing capability while offering flexibility for an owner-occupant seeking supplemental rental income, a long-term investor targeting Williamsburg's resilient rental market, or a buyer exploring repositioning and value-add strategies.
Generous ceiling heights, multiple exposures, and prominent frontage along Metropolitan Avenue create an adaptable foundation for renovation, modernization, or vertical expansion. The mixed-use configuration further enhances revenue diversification and long-term appreciation potential.
Ideally situated near the intersection of Metropolitan Avenue and Lorimer Street and just moments from McCarren Park's expansive green space, recreational amenities, and year-round farmers market, 574 Metropolitan Avenue places occupants within immediate reach of Williamsburg's renowned dining, retail, nightlife, and cultural destinations. Convenient access to the L and G subway lines provides seamless connectivity to Manhattan and throughout Brooklyn.
Whether pursuing a cash-flowing mixed-use investment, an owner-occupied opportunity with income offset, or a development play leveraging significant unused FAR, 574 Metropolitan Avenue offers a rare combination of scale, zoning flexibility, and premier Williamsburg positioning.
The property spans approximately 3,840 gross building square feet and sits on a 24.75 ft 75.08 ft lot. Zoned R7A with a C2-4 commercial overlay, the asset benefits from a 4.0 FAR and approximately 3,592 square feet of remaining buildable area, allowing for a total buildable of 7,432 square feet. This zoning profile provides meaningful expansion, repositioning, or redevelopment potential. With annual real estate taxes of approximately $8,616 under favorable Tax Class 1 status, the property offers attractive carrying costs relative to its scale and location. Currently offered at a 5.23% Cap Rate.
The building is configured as three residential rental units over a ground-floor & lower level retail space, consisting of a 4-bedroom, 2-bathroom unit over a 4-bedroom, 2-bathroom unit over a studio apartment, with a commercial retail storefront. This layout provides strong income-producing capability while offering flexibility for an owner-occupant seeking supplemental rental income, a long-term investor targeting Williamsburg's resilient rental market, or a buyer exploring repositioning and value-add strategies.
Generous ceiling heights, multiple exposures, and prominent frontage along Metropolitan Avenue create an adaptable foundation for renovation, modernization, or vertical expansion. The mixed-use configuration further enhances revenue diversification and long-term appreciation potential.
Ideally situated near the intersection of Metropolitan Avenue and Lorimer Street and just moments from McCarren Park's expansive green space, recreational amenities, and year-round farmers market, 574 Metropolitan Avenue places occupants within immediate reach of Williamsburg's renowned dining, retail, nightlife, and cultural destinations. Convenient access to the L and G subway lines provides seamless connectivity to Manhattan and throughout Brooklyn.
Whether pursuing a cash-flowing mixed-use investment, an owner-occupied opportunity with income offset, or a development play leveraging significant unused FAR, 574 Metropolitan Avenue offers a rare combination of scale, zoning flexibility, and premier Williamsburg positioning.
Location
State NY
County Kings
Rooms
Basement Other
Interior
Interior Features Smoke Free
Fireplace No
Laundry In Unit
Exterior
Exterior Feature Private Outdoor Space Under 60 Sqft
View Y/N No
View Other
Porch None
Private Pool No
Building
Dwelling Type Mixed Use
Story 3
New Construction No
Others
Pets Allowed Pets Allowed
Tax ID 02761-0028
Ownership None
Monthly Total Fees $718
Special Listing Condition Standard
Pets Allowed Building Yes, No
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