1060 Rogers Avenue
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TerraCRG has been retained to exclusively represent ownership in the sale of the six-unit building located at 1060 Rogers Avenue, between Cortelyou Road and Clarendon Road in the Flatbush neighborhood of Brooklyn.
The ~4,800 SF mixed-use property consists of five apartments and one retail unit. The residential units consists of 3 one-bedroom apartments and 2 three-bedroom apartments. The property will be delivered with the retail unit, as well as one of the residential units, vacant. The projected gross annual income of the property is ~$104,976 with annual expenses of ~$26,381, making the net operating income $78,595.
Flatbush is emerging as a strong sub-market in Brooklyn, having seen a 200% growth in dollar volume since 2013. The main retail corridors in the area, Flatbush Avenue, Bedford Avenue, Rogers Avenue and Nostrand Avenue, have attracted several national tenants to the area including Target, Nike, Home Goods, Applebee’s, Men’s Warehouse, AT&T, Payless Shoe Source, David’s Bridal, Te Children’s Place, Verizon Wireless, Modell’s Sporting Goods, Blink Fitness, Dallas BBQ, The Vitamin Shoppe and Starbucks. Additionally, it is in close proximity to Prospect Park and the revamped, iconic Kings Theater. The property is located just three blocks from the 2 & 5 express trains at the Beverly Road station, providing access to Manhattan in just 25 minutes.