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248 Avenue P
Brooklyn NY 11204 US

$1,475,000

Active Listing ID 499914
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Lot: 0.04 Acres
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Mixed Use

$1,475,000

Active Listing ID 499914
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248 Avenue P Turn Key - Fully renovated and structurally sound mixed-use brick corner property on vibrant Avenue P between West 5th and West 6th Streets in the desirable Gravesend/Bensonhurst section of Brooklyn. Spanning approximately 4, 522sqft, this high-income producing asset was fully rebuilt with a new CO in 2005. Huge 2021 upgrades include a new flat roof with skylights, updated sewer and water lines, new garage door with quiet motor, limestone steps, concrete landing, and refreshed stucco exterior. The property features 2 medical office spaces and one spacious residential unit with the potential to be converted into two apartments. Additional highlights include a finished indoor one-car garage with attic storage, wheelchair-accessible lift, separate utilities, and private entrances for each unit. Each commercial space is equipped with its own central air and heating system. The cellar/street-level unit is occupied by an established podiatry practice, offering a direct entrance, reception area, five exam rooms, 1.5 baths, and ample storage. The 1st floor commercial space is fully renovated featuring a large reception area, five exam rooms with bathrooms, a handicap-accessible bathroom, kitchen, and attic storage. The 2nd floor residential unit was newly renovated in 2025, offering approximately 1, 500sqft with 3 bedrooms and 1 full bath, hardwood floors, a new kitchen and bathroom, stainless steel appliances, and updated cabinetry and countertops. Property with a projected NOI of $114, 761 and a strong 7.5%+ cap rate, this is a prime income-generating investment. Conveniently located near the N and F trains, as well as the B4, B6, and B82 bus lines.

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Property Features

  • Facts
  • Lot Size: 0.04 Acres
  • Property Type: Other
  • Property Sub-type: Mixed Use
  • Features
  • Floor Covering: Hardwood, Tile
  • Heating Fuels: Baseboard, Natural Gas

Property

  • propertytype: Other
  • propertysubtype: Mixed Use
  • listprice: 1475000
  • unparsedaddress: 248 Avenue P
  • postalcity: Brooklyn
  • stateorprovince: NY
  • country: US
  • postalcode: 11204
  • bathroomsfull: 0
  • bathroomshalf: 0
  • bathroomsonequarter: 0
  • bathroomsthreequarter: 0
  • lotsizeacres: 0.0371900826446281
  • lotsizeunits: Acres
  • lotsizearea: 0.03719
  • livingarea: 4522
  • livingareaunits: Square Feet
  • listagentfullname: Mandy Y. Shi
  • listagentemail: mandyshimovesyou@gmail.com
  • listagentkey: 3yd-BMLSNY-MYS6404
  • listagentmlsid: MYS6404
  • listagentpreferredphone: 7183820001
  • listagentofficephone: 7183820001
  • listofficekey: 3yd-BMLSNY-117770
  • listofficemlsid: 117770
  • disclaimer: Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  • sourcesystemid: BMLSNY
  • yearbuilt: 1935
  • countyorparish: Kings (Brooklyn)
  • constructionmaterials: Brick
  • flooring: Hardwood, Tile
  • heating: Baseboard, Natural Gas
  • fireplaceyn: False
  • transactiontype: ForSale
  • storiestotal: 2
  • parkingtotal: 0
  • waterfrontyn: False
  • architecturalstyle: Other
  • dock: False
  • poolprivateyn: False
  • spayn: False
  • internetaddressdisplayyn: True
  • internetautomatedvaluationdisplayyn: True
  • internetconsumercommentyn: True
  • openhouse: { "AppointmentRequiredYN": false, "ListingKey": "3yd-BMLSNY-499914", "OpenHouseEndTime": "2026-03-29T21:00:00+00:00", "OpenHouseId": "499914", "OpenHouseRemarks": null, "OpenHouseStartTime": "2026-03-29T19:00:00+00:00", "OpenHouseType": null, "VirtualOpenHouseURL": null }
  • customfields: {"AdditionalInformation":{}, "AlternatePrices":[], "BrokerName":"Momentum Real Estate LLC", "BuilderEmail":null, "BuilderFax":null, "BuilderPhone":null, "City":null, "Country":null, "Expenses":[], "GeocodeOptions":null, "LeadRoutingEmail":"mandyshimovesyou@gmail.com", "ListBrokerageCity":"Brooklyn", "ListBrokerageCountry":"US", "ListBrokerageEmail":null, "ListBrokerageLogoUrl":null, "ListBrokerageName":"Momentum Real Estate LLC", "ListBrokeragePhone":"(718) 382-0001", "ListBrokeragePostalCode":null, "ListBrokerageStateOrProvince":"NY", "ListBrokerageUnitNumber":null, "ListBrokerageUnparsedAddress":"289 Kings Highway", "ListBrokerageWebsiteUrl":null, "ListOfficeAddress1":"1703 86 Street", "ListOfficeAddress2":null, "ListOfficeBrokerMlsId":null, "ListOfficeCity":"Brooklyn", "ListOfficeCountry":"US", "ListOfficeEmail":"leomovesyou@gmail.com", "ListOfficePostalCode":"11214", "ListOfficeStateOrProvince":"NY", "ListPriceCurrencyType":"USD", "ListingTitle":"Mixed Use - Brooklyn, NY", "ListingURL":"https://listings.listhub.net/pages/BMLSNY/499914/?channel=rexren", "MLSModificationTimestamp":"2026-03-26T12:33:06Z", "Neighborhoods":[], "PostalCode":null, "RawPropertySubType":"Mixed Use", "RawPropertyType":"Mixed Use", "RoomCount":null, "StateOrProvince":null, "Taxes":[{"TaxAnnualAmount":37539, "TaxDescription":null, "TaxYear":null}], "UnitNumber":null, "UnparsedAddress":null}
Listing Changed: 3/26/2026 6:01:57 PM GMT
Source Updated Date: 3/29/2026 7:08:19 AM GMT

Courtesy of: Mandy Y. Shi, Momentum Real Estate LLC, mandyshimovesyou@gmail.com

Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.