Value-Add Mixed-Use Retail and Multifamily 332 Marcus Garvey Blvd 6 Lots d’appartement Immeuble residentiel Vente aux enchères en ligne Brooklyn, NY 11221

332 Marcus Garvey Boulevard provides an income-producing mixed-use investment with significant growth potential in the heart of Brooklyn’s Bedford-Stuyvesant neighborhood. Comprising six apartment units that are 50% leased on month-to-month agreements, along with a vacant ground-floor retail shell, this rare offering delivers upside to value-add investors who can fill the remaining space and capture growing area rents.

332 Marcus Garvey Boulevard spans a total of 4,800 square feet across four floors, built in 1900 and fully renovated in 2016. The upper-level apartments include a unit mix of three one-bedroom apartments and three two-bedroom units. Its attractive brownstone façade provides excellent curb appeal, and the residential units boast mostly open floor plans with abundant natural lighting. The retail suite also enjoys a large glass storefront, along with a wrought-iron security fence that encloses a small outdoor seating area.

Situated in a well-connected location just off Marcus Garvey Boulevard, the property enjoys dense foot and vehicle traffic and attracts customers and residents with convenient accessibility from the surrounding area. There are several bus stops within blocks of the location, as well as walkable access to the A and C MTA lines at the Utica and Kingston-Throp stations. Allowing residents to enjoy the best that the area has to offer, the site is within walking distance of high-quality schools, numerous shopping and dining options, and beautiful green spaces at Raymond Bush Playground and Herbert Von King Park.

332 Marcus Garvey Boulevard is poised to uniquely benefit from the upcoming transformation of the Marcus Garvey Armory building, located just steps away. This historic property was designed by architect Rudolph Daus and remains an iconic fixture of the local landscape, notable for its looming rounded towers and crenellations. An ongoing community-wide effort is underway to reimagine the property as an interconnected economic ecosystem that fosters sustainable, local supply chains by supporting new business development, boosting legacy enterprises, and drawing on industry-specific expertise for community-wide impact. Plans include a variety of mixed-use concepts, including urban agriculture, a wellness center, a business incubation and innovation hub, and a food hub.

A new owner of 332 Marcus Garvey Boulevard will be able to leverage strong fundamentals in the local multifamily and retail submarkets when leasing the property. Currently, both submarkets display vacancies of just 4.1%, and this tight availability in the area has driven retail rents up 1.85% and multifamily rents up 1% during the past 12 months. This elevated demand is directly driven by the sizable renter population within just 1 mile of the property. Approximately 84% of these 180,000+ residents rent their homes, and this dependable consumer group provided more than $1.8 billion in annual spending during 2024.

Realize the full potential of this perfectly positioned, mixed-use retail and multifamily investment by filling the remaining vacancies and capturing substantial value-add growth potential at 332 Marcus Garvey Boulevard.

Property tours are by appointment only. Please contact the listing broker to schedule.