69 Underhill Ave, Brooklyn, NY 11238

Description

Offered exclusively as a single $6,000,000 package, 67-69 Underhill Avenue comprises two adjoining mixed-use properties that must be purchased together and are not available for separate sale. This fully free-market, corner mixed-use property package is located in an iconic section of Prospect Heights, ideally positioned between Bergen Street and Saint Marks Avenue. This rare offering comprises two adjoining mixed-use buildings situated on a prominent corner, providing strong street presence, operational flexibility, and long-term value in one of Brooklyn's most established and supply-constrained neighborhoods. The property spans a combined 50.42 ft 78 ft lot and is situated within R6B zoning, offering approximately 897 square feet of unused FAR, presenting clear upside through future reconfiguration, enhancement, or expansion, subject to approvals. Each building features a commercial space at grade with two residential units above, totaling four residential apartments across the assemblage. All residential units are configured as three-bedroom, one-bath layouts, a consistently in-demand unit type within the Prospect Heights rental market. Further enhancing the asset's versatility is an auto body shop with an existing curb cut located off Bergen Street, providing an additional income stream and operational flexibility.

The entire property is fully free-market, positioning ownership to unlock value through strategic leasing, repositioning, or a long-term hold strategy. The location is a defining attribute. Situated in the heart of Prospect Heights, 67-69 Underhill Avenue is just a short stroll from Prospect Park and Grand Army Plaza, and moments from Barclays Center, one of Brooklyn's premier sports and entertainment destinations. The property also benefits from a short jaunt to Atlantic Terminal, offering access to multiple additional subway lines as well as the Long Island Rail Road (LIRR), providing exceptional regional connectivity. Transit options nearby include the C train at Clinton-Washington Avenues, the A, C, and S lines, and the 2 and 3 trains at Grand Army Plaza, allowing for efficient travel throughout Brooklyn and Manhattan. Surrounded by Prospect Heights' most notable cultural and lifestyle amenities, the property is in close proximity to the Brooklyn Museum, Brooklyn Botanic Garden, and Brooklyn Public Library. The nearby retail corridors of Vanderbilt Avenue and Washington Avenue serve as major neighborhood arteries, offering a dense concentration of acclaimed restaurants, cafés, neighborhood markets, supermarkets, and everyday conveniences that continue to drive sustained tenant demand and long-term neighborhood growth. Whether an investor seeking durable income with meaningful upside or an owner-operator or end user pursuing a 1031 exchange, 67-69 Underhill Avenue represents a rare corner mixed-use opportunity in an iconic part of Brooklyn, combining scale, zoning flexibility, transit access, and enduring Prospect Heights appeal.