637 Rogers Ave 3,300 SF 67% Leased Retail Building Brooklyn, NY 11226 $1,950,000 ($590.91/SF) 7.20% Cap Rate

The Yarmush Group is excited to bring 637 Rogers Avenue to market. The property consists of a 3 story brick building with 2 renovated floor through apartments over a vacant retail space built out as a restaurant.
The building has been renovated to the studs and is in immaculate condition. The apartments are getting great rents and the retail is vacant allowing the buyer to either use it or lease it to a tenant of their choice.
Here are the highlights of this deal:
*Renovated apartments achieving healthy rents
*Vacant restaurant space allowing a user to occupy or investor to chose their tenant
*2 Blocks away from the B/Q train Station and 1 Block from the 2/5 train station getting your tenants into the city in under a half hour.
*Well located in Prospect Lefferts Gardens, blocks from Prospect Park, thousands of luxury apartments recently built and under construction and lots of trendy bars, cafes and shops
*The property taxes are $10,339 annually and is in tax class protected, tax class 1 which has the best cap on what the increases can be year over year. (6% per year or 20% over 5 years).
*If buyer is an investor and elects to rent the retail space, the projected rent would be roughly $6,000 monthly. The Net Income will be $140,404 which will provide a 7.2% Cap Rate in Place