The Forray Team at The Corcoran Group is pleased to present 292 Leonard Street, an exceptional “Corner Turnkey” investment opportunity with future development potential in the heart of prime Williamsburg. This fully occupied, mixed-use townhouse offers immediate income with a strong Existing CAP rate of 5.66% and a projected pro… Read More forma CAP rate of 6.16%. For investors with an eye on the future, the property also presents significant development upside. Built in 1910 with an estimated total of 2,760 Gross SF (2,020 Above Grade): Includes 690 SF of ground floor retail, plus direct access to 690 SF basement & 1,380 SF of residential area across 2 floors. this 23-foot-wide mixed-use townhouse has been well maintained preserving it's exterior pre-war charm with thoughtful modern upgrades, all while benefiting from low annual real estate taxes of ($5,771) under the protection of Tax Class 1 status. Zoned R7A, C2-4, this property offers an FAR of 4.0. The property features a ground-floor commercial unit, two spacious three-bedroom residential apartments, a full basement, and a private backyard with a curb cut exclusive to the retail space. The commercial unit currently A/C Super is approx. 690 square feet with an open layout, half bath &, and 675 backyard—making it an ideal corner retail space with the ability for full lot coverage in the future. A full basement provides valuable storage space, enhancing the commercial unit’s functionality. Above, two 3-bedroom, 1-bathroom residential apartments—both leased deliver consistent cash flow and stable occupancy. Perfectly positioned on the Corner of Metropolitan Avenue and Leonard Street, a “Premium Retail Corridor” and just one block from the L and G subway lines. The property offers immediate access to Williamsburg’s renowned dining, shopping, parks, and conveniences. Whether you're looking for a steady income-producing asset, a future development project, or a mixed-use property with growth potential, 292 Leonard Street delivers a rare combination of space, cash flow, and location in one of Brooklyn’s most sought-after neighborhoods. Read Less
Listing Courtesy of: Christopher V Cavorti, Corcoran Group
Listing Snapshot
Days Online
13
Last Updated
Property Type
MixedUse
Beds
6
Full Baths
3
Partial Baths
1
Square Ft.
2,760
Lot Size
0.03 Acres
Year Built
1910
MLS Number
RLS20039131
30 Days Snapshot Of 11211
$1.25M
-18%
(avg) sold price
12
-42%
homes sold
75
-9%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Entry Level: 1, Features: GreenBuilding, Living Area Units: SquareFeet, Rooms Total: 11, Structure Type: MixedUse
Information herein is deemed reliable but not guaranteed and is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by Coldwell Banker Warburg. If you have any questions regarding the accuracy of this data, please contact us at [email protected]. Data updated:
Confirm your time
Fill in your details and we will contact you to confirm a time.