Three Contiguous Mixed-Use Buildings
784,786 & 788 Rogers Avenue
Prospect Lefferts Gardens/Flatbush
Closed 09/20/2021 at
$3,950,000 | $475 per SF
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718-395-1877
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Overview
TerraCRG has been exclusively retained in the sale of 784, 786 & 788 Rogers Avenue, three contiguous, free- market and gut-renovated mixed-use buildings located on the Prospect Lefferts Gardens/Flatbush border.
These three-story buildings total 8,320 SF, with six fully- occupied, recently gut-renovated free market residential units. The floor-through apartments consist of spacious two-to-three-bedroom units with private in-unit laundry and split A/C units. On the ground floor, there are three fully-occupied retail spaces totaling 3,520 SF.
This property has an in-place gross income of about $298,000 and has as net operating income of $244,986, which equates to a 6.1% Cap Rate.
Attractions
Situated just two blocks away from the 2 and 5 trains at the Church Avenue station, this property has convenient subway access, providing an easy commute to Downtown Brooklyn and Lower Manhattan. Major attractions in proximity to 784, 786 & 788 Rogers Avenue include Prospect Park, Crunch, Planet Fitness, and the newly renovated Kings Theatre. The property is also surrounded by major retail corridors, enabling quick access to restaurants, cafés, national tenants and boutique shops.