245A-247 SOUTH 1ST STREET

$3,950,000

Price [Calculator]

Mixed Use

Beds

4

Baths

ID #: 1039
Property Type: Mixed Use
Approx. Size: 4,600 SqFt
Availability: Immediately
Parking: Street
Total Rooms: 6


Building & Unit Features


Williamsburg Mixed-use Invesment Property For Sale

Bedford Realty is pleased to offer 245A-247 South 1st Street for sale, a Southside Williamsburg mixed-use property with fantastic upside for an owner/user or investor. Situated on South 1st Street between Roebling & Havemeyer, a location that housed one of Williamsburg’s iconic Michelin starred restaurants for over 10 years. The two affixed properties offer one large retail space and four residential units spread amongst +/- 4,600 gross SF. The 2300 SF retail space currently available for lease boasts 10'+ ceiling heights, vented kitchen with existing hood, walk in fridges, exposed brick and original oak floors. A full-height cellar offers an additional ~ +/-2,300 gross SF.
Asking commercial rents in the surrounding area along Grand Street averaged $100/SF and Northern Bedford Avenue hover north of $200/SF. The four FM residential units spread amongst both buildings offer additional immediate cash flow. All units are market rate, open concept layout, occupied with a mix of MTM and 1 year leases. Once fully stabilized and with minimal updates this property can easily see north of 5.0% cap rate.

Listing Agent






Nearby Subways

  • J M Z Havemeyer St & Broadway (~0.27 mile)
  • L Driggs Ave & N 7th St (~0.31 mile)
  • G L Union Ave & Metropolitan Ave (~0.33 mile)
  • J M Hooper St & Broadway (~0.41 mile)

Learn More About The Area