Rogers Avenue Mixed-Use Building
230 Rogers Avenue
Crown Heights
Closed 01/31/2014 at
$750,000
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718-768-6888
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Overview
TerraCRG has been retained to sell the mixed use building located at 230 Rogers Avenue in the Crown Heights neighborhood of Brooklyn. The 2,935 SF property is situated on Rogers Avenue between President Street and Carroll Street.
The 3-story property consists of 2 three-bedroom free market apartments and a vacant ground floor commercial space. The actual/projected gross revenue for the building is approx. $67K a year. With annual expenses of $18,830, the net operating income is $48,070 annually.
The building is located only one block from the President Street 2,5 subway station, and just a short distance from the Botanical Gardens, the Brooklyn Museum and Prospect Park. The property is only two stops from the Barclays Center with access to the 4,3,D,N,R,B,Q Trains plus the LIRR, making the commute in and out of Manhattan less than 20 minutes.
Attractions
Crown Heights has seen tremendous transformations over the last decade with many condo developments, strong retail and a robust brownstone sales market that is rivaling Park Slope. In just a few years, rents have risen from $20/SF to $40/SF and are poised to reach $45/SF and above within the next two years. As a result, Franklin Avenue, just two blocks away, is now seeing a strong retail market with the addition of new restaurants and boutiques servicing the new demographic