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251 Montrose Avenue
About This Property
Current ownership purchased from the original developer in 2008 and spared no expense with their buildout, design, and fixtures. It features a chef's kitchen with a Gaggenau double oven and pizza stone/cast iron BBQ add-ons, split system AC/heat as well as a separate industrial grade gas-heating system, double and triple-paned windows for soundproofing, a curb cut and automatic garage door for private parking, a Bosch washer-dryer, and countless other quality additions that only a discerning purchaser would notice. With cross ventilation from the multiple entrances, windows, and massive indoor fan, monthly utilities are quite low and a new owner would benefit from the additional ~1,000/month rent from outdoor signage.
The building can be delivered partially furnished and would be perfect as a showroom, artist's loft, movie and/or sound studio, or as a beautiful restaurant with substantial outdoor seating. Owner Financing is possible here with the right terms, and feel free to reach out with any questions or to schedule a showing.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
You can learn more about cap rate here .
Price History
Date / Event | Date | Event | Price |
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Jan 19, 2025 | Listed by Compass | $2,495,000 | |
Listed by Compass | |||
Jul 29, 2010 | Sold to 251 Montrose Avenue Llc | ||
Sold to 251 Montrose Avenue Llc |
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Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
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Building Info
- 1 Units
- 1 Unit for Sale
