641 N 56TH Street

Description

Newly Reduced! High-Yield Investment Opportunity " 13.24% Cap Rate in a Federal Opportunity Zone. This prime corner mixed-use property delivers strong cash flow and is situated within a designated Federal Opportunity Zone, offering significant tax incentives for the savvy investor. Currently designed as a fully equipped neighborhood grocery store, the retail space includes shelving, refrigeration units, and a deli counter"all included in the sale. Above the store is a spacious two-bedroom, one-bath residential unit featuring a living room, a kitchen with a combined dining area, and a private deck. Additionally, the property includes a roughed-in studio space at the rear of the first floor"perfect for expanding residential income, additional storage for the corner store or reimagining as a home office, flex space or Airbnb. The commercial space also has direct basement access for storage, via the interior or the Bilco door entrance from the street.This is a versatile, income-producing asset with excellent value-add potential in a high-demand location"ideal for both seasoned investors and new entrants seeking long-term growth with built-in tax advantages. Needs TLC but the value is there for a savvy investor. Easy to see with no tenants.