248 Avenue P Brooklyn, NY 11204
Gravesend NeighborhoodEstimated payment $11,908/month
Highlights
- 1 Car Attached Garage
- Handicap Accessible
- Baseboard Heating
- James Madison High School Rated A-
- Ceramic Tile Flooring
About This Home
Welcome to this exceptional mixed-use property, offering a versatile combination of medical and residential spaces across three levels. This brick construction corner property has a built-in garage and handicap platform elevator for 2 separate medical offices. Street Level has a busy podiatrist office, in business for the past 16 years, including an office space with five exam rooms,1.5 baths, a reception area, utilities room and storage. The first floor of this property features a recently renovated and currently vacant doctor's office, boasting a spacious layout designed to accommodate any medical practice needs. This well-appointed space includes five exam rooms, alongside convenient amenities such as 1.5 baths, a spacious reception area, kitchen and ample built-in storage space in the attic. On the top floor, you'll discover a huge three-bedroom one-bathroom residential unit, providing immediate rental income, making it an attractive option for investors seeking to diversify their portfolio with residential real estate. The building was completely rebuilt with a new certificate of occupancy in 2005. Within the past 2 years the following house improvements were done: installation of new roof, new sewer and water main line, masonry stone porches and iron rod fence. Separate utilities with separate meters for gas and electric for all 3 units make it more profitable for the owner. Projected net income almost 100K a year that makes it almost 7% cap!
Property Details
Property Type
- Other
Est. Annual Taxes
- $37,000
Year Built
- Built in 1935
Lot Details
- 1,620 Sq Ft Lot
- Lot Dimensions are 30x54
- Property is zoned R5B
Parking
- 1 Car Attached Garage
Home Design
- Mixed Use
- Brick Exterior Construction
- Poured Concrete
- Shingle Roof
Interior Spaces
- 4,522 Sq Ft Home
- 2-Story Property
- Sheet Rock Walls or Ceilings
- Ceiling height between 8 to 10 feet
- Ceramic Tile Flooring
- Finished Basement
- Basement Fills Entire Space Under The House
Accessible Home Design
- Handicap Accessible
Utilities
- Baseboard Heating
- Heating System Uses Gas
- 220 Volts
- Gas Water Heater
Community Details
- Insurance Expense $3,494
- Utility Expense $250
- Gross Income $142,800
- Net Operating Income $100,056
Listing and Financial Details
- Tax Block 6626
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $40,104 | $346,050 | $48,150 | $297,900 |
| 2024 | $40,104 | $382,050 | $48,150 | $333,900 |
| 2023 | $39,686 | $408,150 | $48,150 | $360,000 |
| 2022 | $38,650 | $418,050 | $48,150 | $369,900 |
| 2021 | $32,050 | $299,700 | $48,150 | $251,550 |
| 2020 | $16,065 | $352,800 | $48,150 | $304,650 |
| 2019 | $33,589 | $352,800 | $48,150 | $304,650 |
| 2018 | $31,353 | $341,100 | $48,150 | $292,950 |
| 2017 | $29,845 | $320,400 | $48,150 | $272,250 |
| 2016 | $27,776 | $305,550 | $48,150 | $257,400 |
| 2015 | $8,883 | $316,350 | $48,150 | $268,200 |
| 2014 | $8,883 | $279,000 | $48,150 | $230,850 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 01/18/2025 01/18/25 | Price Changed | $1,598,000 | -0.6% | $353 / Sq Ft |
| 12/24/2024 12/24/24 | Price Changed | $1,608,000 | +1.3% | $356 / Sq Ft |
| 11/11/2024 11/11/24 | Price Changed | $1,588,000 | +5.9% | $351 / Sq Ft |
| 10/13/2024 10/13/24 | Price Changed | $1,499,000 | +0.7% | $331 / Sq Ft |
| 05/06/2024 05/06/24 | Price Changed | $1,488,000 | -6.9% | $329 / Sq Ft |
| 04/08/2024 04/08/24 | Price Changed | $1,598,000 | -5.9% | $353 / Sq Ft |
| 03/21/2024 03/21/24 | For Sale | $1,698,000 | -- | $375 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | -- | -- | |
| Deed | -- | -- | |
| Bargain Sale Deed | $330,000 | Custom Title Services Inc | |
| Bargain Sale Deed | $330,000 | Custom Title Services Inc |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $440,000 | Commercial | |
| Closed | $440,000 | Commercial | |
| Previous Owner | $241,000 | Commercial |
Source: Brooklyn Board of REALTORS®
MLS Number: 480732
APN: 06626-0010
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