593 ROGERS AVENUE | BROOKLYN, NEW YORK 593 ROGERS ….... 1/« « %((% $ ,«« PROSPECT - 1 LEFFERTS GARDENS 593 ROGERS AVENUE | BROOKLYN, NEW YORK 593 ROGERS AVENUE, BROOKLYN, NEW

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2019 Marcus & Millichap 1PROSPECT -

LEFFERTS GARDENS

593 ROGERS AVENUE | BROOKLYN, NEW YORK 593 ROGERS AVENUE, BROOKLYN, NEW YORK 11225

NY Broker of RecordJohn KruegerLic.# 10311205789

MICHAEL B. KOOKFIRST VICE PRESIDENT

Office: (212) 430-5169 Cell: (917) 674-4216E-mail: [email protected]: NY: 10301216047

Institutional Property Advisors (IPA)National Retail GroupNet Leased Properties Group

EXCLUSIVELY LISTED BY:

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2019 Marcus & Millichap 2 PROSPECT -

LEFFERTS GARDENS

593 ROGERS AVENUE | BROOKLYN, NEW YORK

Investment Contact

Office: (212) 430-5169 Cell: (917) 674-4216E-mail: [email protected]:

MICHAEL B. KOOKFirst Vice PresidentInstitutional Property Advisors (IPA) National Retail GroupNet Leased Properties Group

NY: 10301216047


LEFFERTS GARDENS


CONFIDENTIALITY & DISCLAIMER

MARCUS & MILLICHAP HEREBY ADVISES ALL PROSPECTIVE PURCHASERS OF NET LEASED PROPERTY AS FOLLOWS:

THE INFORMATION CONTAINED IN THIS MARKETING BROCHURE HAS BEEN OBTAINED FROM SOURCES WE BELIEVE TO BE RELIABLE. HOWEVER, MARCUS & MILLICHAP HAS NOT AND WILL NOT VERIFY ANY OF THIS INFORMATION, NOR HAS MARCUS & MILLICHAP CONDUCTED ANY INVESTIGATION REGARDING THESE MATTERS. MARCUS & MILLICHAP MAKES NO GUARANTEE, WARRANTY OR REPRESENTATION WHATSOEVER ABOUT THE ACCURACY OR COMPLETENESS OF ANY INFORMATION PROVIDED.

AS THE BUYER OF A NET LEASED PROPERTY, IT IS THE BUYER’S RESPONSIBILITY TO INDEPENDENTLY CONFIRM THE ACCURACY AND COMPLETENESS OF ALL MATERIAL INFORMATION BEFORE COMPLETING ANY PURCHASE. THIS MARKETING BROCHURE IS NOT A SUBSTITUTE FOR YOUR THOROUGH DUE DILIGENCE INVESTIGATION OF THIS INVESTMENT OPPORTUNITY. MARCUS & MILLI-CHAP EXPRESSLY DENIES ANY OBLIGATION TO CONDUCT A DUE DILIGENCE EXAMINATION OF THIS PROPERTY FOR BUYER.

ANY PROJECTIONS, OPINIONS, ASSUMPTIONS OR ESTIMATES USED IN THIS MARKETING BROCHURE ARE FOR EXAMPLE ONLY AND DO NOT REPRESENT THE CURRENT OR FUTURE PERFORMANCE OF THIS PROPERTY. THE VALUE OF A NET LEASED PROPERTY TO YOU DEPENDS ON FACTORS THAT SHOULD BE EVALUATED BY YOU AND YOUR TAX, FINANCIAL AND LEGAL ADVISORS.

BUYER AND BUYER’S TAX, FINANCIAL, LEGAL, AND CONSTRUCTION ADVISORS SHOULD CONDUCT A CAREFUL, INDEPENDENT INVESTIGATION OF ANY NET LEASED PROPERTY TO DETERMINE TO YOUR SATISFACTION WITH THE SUITABILITY OF THE PROPERTY FOR YOUR NEEDS.

LIKE ALL REAL ESTATE INVESTMENTS, THIS INVESTMENT CARRIES SIGNIFICANT RISKS. BUYER AND BUYER’S LEGAL AND FINANCIAL ADVISORS MUST REQUEST AND CAREFULLY REVIEW ALL LE-GAL AND FINANCIAL DOCUMENTS RELATED TO THE PROPERTY AND TENANT. WHILE THE TENANT’S PAST PERFORMANCE AT THIS OR OTHER LOCATIONS IS AN IMPORTANT CONSIDERATION, IT IS NOT A GUARANTEE OF FUTURE SUCCESS. SIMILARLY, THE LEASE RATE FOR SOME PROPERTIES, INCLUDING NEWLY-CONSTRUCTED FACILITIES OR NEWLY-ACQUIRED LOCATIONS, MAY BE SET BASED ON A TENANT’S PROJECTED SALES WITH LITTLE OR NO RECORD OF ACTUAL PERFORMANCE, OR COMPARABLE RENTS FOR THE AREA. RETURNS ARE NOT GUARANTEED; THE TENANT AND ANY GUARANTORS MAY FAIL TO PAY THE LEASE RENT OR PROPERTY TAXES, OR MAY FAIL TO COMPLY WITH OTHER MATERIAL TERMS OF THE LEASE; CASH FLOW MAY BE INTERRUPT-ED IN PART OR IN WHOLE DUE TO MARKET, ECONOMIC, ENVIRONMENTAL OR OTHER CONDITIONS. REGARDLESS OF TENANT HISTORY AND LEASE GUARANTEES, BUYER IS RESPONSIBLE FOR CONDUCTING HIS/HER OWN INVESTIGATION OF ALL MATTERS AFFECTING THE INTRINSIC VALUE OF THE PROPERTY AND THE VALUE OF ANY LONG-TERM LEASE, INCLUDING THE LIKELIHOOD OF LOCATING A REPLACEMENT TENANT IF THE CURRENT TENANT SHOULD DEFAULT OR ABANDON THE PROPERTY, AND THE LEASE TERMS THAT BUYER MAY BE ABLE TO NEGOTIATE WITH A POTENTIAL REPLACEMENT TENANT CONSIDERING THE LOCATION OF THE PROPERTY, AND BUYER’S LEGAL ABILITY TO MAKE ALTERNATE USE OF THE PROPERTY.

BY ACCEPTING THIS MARKETING BROCHURE YOU AGREE TO RELEASE MARCUS & MILLICHAP REAL ESTATE INVESTMENT SERVICES AND HOLD IT HARMLESS FROM ANY KIND OF CLAIM, COST, EXPENSE, OR LIABILITY ARISING OUT OF YOUR INVESTIGATION AND/OR PURCHASE OF THIS NET LEASED PROPERTY.

CONFIDENTIALITY AND DISCLAIMER

THE INFORMATION CONTAINED IN THE FOLLOWING MARKETING BROCHURE IS PROPRIETARY AND STRICTLY CONFIDENTIAL. IT IS INTENDED TO BE REVIEWED ONLY BY THE PARTY RECEIV-ING IT FROM MARCUS & MILLICHAP AND SHOULD NOT BE MADE AVAILABLE TO ANY OTHER PERSON OR ENTITY WITHOUT THE WRITTEN CONSENT OF MARCUS & MILLICHAP. THIS MARKETING BROCHURE HAS BEEN PREPARED TO PROVIDE SUMMARY, UNVERIFIED INFORMATION TO PROSPECTIVE PURCHASERS, AND TO ESTABLISH ONLY A PRELIMINARY LEVEL OF INTEREST IN THE SUBJECT PROPERTY. THE INFORMATION CONTAINED HEREIN IS NOT A SUBSTITUTE FOR A THOROUGH DUE DILIGENCE INVESTIGATION. MARCUS & MILLICHAP HAS NOT MADE ANY INVESTIGA-TION, AND MAKES NO WARRANTY OR REPRESENTATION, WITH RESPECT TO THE INCOME OR EXPENSES FOR THE SUBJECT PROPERTY, THE FUTURE PROJECTED FINANCIAL PERFORMANCE OF THE PROPERTY, THE SIZE AND SQUARE FOOTAGE OF THE PROPERTY AND IMPROVEMENTS, THE PRESENCE OR ABSENCE OF CONTAMINATING SUBSTANCES, PCB’S OR ASBESTOS, THE COMPLI-ANCE WITH STATE AND FEDERAL REGULATIONS, THE PHYSICAL CONDITION OF THE IMPROVEMENTS THEREON, OR THE FINANCIAL CONDITION OR BUSINESS PROSPECTS OF ANY TENANT, OR ANY TENANT’S PLANS OR INTENTIONS TO CONTINUE ITS OCCUPANCY OF THE SUBJECT PROPERTY. THE INFORMATION CONTAINED IN THIS MARKETING BROCHURE HAS BEEN OBTAINED FROM SOURCES WE BELIEVE TO BE RELIABLE; HOWEVER, MARCUS & MILLICHAP HAS NOT VERIFIED, AND WILL NOT VERIFY, ANY OF THE INFORMATION CONTAINED HEREIN, NOR HAS MARCUS & MILLI-CHAP CONDUCTED ANY INVESTIGATION REGARDING THESE MATTERS AND MAKES NO WARRANTY OR REPRESENTATION WHATSOEVER REGARDING THE ACCURACY OR COMPLETENESS OF THE INFORMATION PROVIDED. ALL POTENTIAL BUYERS MUST TAKE APPROPRIATE MEASURES TO VERIFY ALL OF THE INFORMATION SET FORTH HEREIN.

NON-ENDORSEMENT NOTICE

MARCUS & MILLICHAP REAL ESTATE INVESTMENT SERVICES, INC.(“M&M”) IS NOT AFFILIATED WITH, SPONSORED BY, OR ENDORSED BY ANY COMMERCIAL TENANT OR LESSEE IDENTIFIED IN THIS MARKETING PACKAGE. THE PRESENCE OF ANY CORPORATION’S LOGO OR NAME IS NOT INTENDED TO INDICATE OR IMPLY AFFILIATION WITH, OR SPONSORSHIP OR ENDORSEMENT BY, SAID CORPORATION OF M&M, ITS AFFILIATES OR SUBSIDIARIES, OR ANY AGENT, PRODUCT, SERVICE, OR COMMERCIAL LISTING OF M&M, AND IS SOLELY INCLUDED FOR THE PURPOSE OF PROVIDING TENANT LESSEE INFORMATION ABOUT THIS LISTING TO PROSPECTIVE CUSTOMERS.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.


LEFFERTS GARDENS


7-ELEVEN ON US ROUTE 166 1223 | TOMS RIVER, NEW JERSEY

Investment OverviewMarcus & Millichap is pleased to present for sale 593 Rogers Avenue, a 12-unit multifamily

building located in the Prospect-Lefferts Gardens neighborhood of Brooklyn, New

York. The property consists of one, three-story walk-up building with a Gross Leasable

Area (GLA) of 5,775 square feet on a 0.06-acre lot. The building was built in 1931 and

renovated in 2006.

Prospect-Lefferts Gardens is a middle-class residential and commercial neighborhood

in the Flatbush section of Brooklyn. 593 Rogers Avenue is located between Hawthorne

Street and Winthrop Street that in 2018 had a traffic count of 15,300 vehicles per day

along Rogers Avenue. The property is steps from the ‘2’ and ‘5’ subway train lines, and

two blocks from Kings County Hospital and Flatbush Avenue, a high volume north-

south thoroughfare with a traffic count of 29,000 vehicles per day. This multifamily

residential building is located in an area with a population of 57,000 people living

within a half-mile radius and an average household income of $66,000.

Major retail tenants in close proximity include: CVS Pharmacy, CTown, Rite Aid, Planet

Fitness, McDonald’s, Stop & Shop, and Ihop. Only three blocks walking distance is

Prospect Park, Brooklyn’s’ 526-acre public park. The property’s ideal NYC location,

high occupancy, and below market rents make the offering an attractive investment

opportunity. The property is located an hour from John F. Kennedy International Airport,

one of the largest airports in the nation with daily flights to and from London, Paris,

Chicago, and numerous other destinations. Prospect-Lefferts Gardens is accessible via

Nostrand Avenue, and the ‘2’ and ‘5’ subway lines, just 40 minutes from Downtown

Manhattan.

A 5,775-Square Foot Multifamily Residential Building Located in the

Prospect-Lefferts Gardens Neighborhood of Brooklyn, New York

Three-Story Walk-up Building Comprised of 12 Free Market Residential

Units

Located Steps From the ‘2’ and ‘5’ Subway Train Lines, and Two Blocks

from Kings County Hospital and Flatbush Avenue, a High Volume North-

South Thoroughfare with a Traffic Count of 29,000 Vehicles Per Day

Three Blocks Walking Distance From Prospect Park, Brooklyn’s 526-Acre

Public Park

In an Area with a Population of 57,000 People Living Within a Half-Mile

Radius and an Average Household Income of $66,000

Investment Highlights


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PRICE

Gross Leaseable Area Price Per SF

Year 1 NOICap Rate

Price Per UnitYear Built / Renovated

Number of Units

Lot Size

Offering Summary

$ 3,200,0005,775 SF $554

4.87% $155,78012 (Free Market) $266,667

1931 / 2006 0.06 Acres / 2,613 SF

VITAL DATA

POTENTIAL GROSS REVENUE CURRENT / PRO FORMA

BASE RENT $201,240

SCHEDULED BASE RENTAL REVENUE $201,240

EXPENSE REIMBURSEMENT REVENUE

TOTAL POTENTIAL GROSS REVENUE $201,240

EFFECTIVE GROSS REVENUE $201,240

OPERATING EXPENSES

REAL ESTATE TAXES $31,960

INSURANCE $6,000

REPAIRS & MAINTENANCE $7,500

SUPERINTENDENT $7,500

TOTAL OPERATING EXPENSES $52,960

NET OPERATING INCOME $148,280

Note: Each unit has its own designated gas boiler for heat. Heating utility is paid by tenant.


LEFFERTS GARDENS


Property Details

LEGEND

Parking Lot

Structure

Parcel

NEW YORK

Parcel Map

Address 593 ROGERS AVE BROOKLYN, NY 11225

Building SF 5,775 SF

Stories / Lot Size 3 / 0.06 Acres / 2,613 SF

Tax ID Number 05047-0005

Block / Lot 5047 / 5

Zoning R6

Property Type Walk-up Apartments

Number of Buildings One

Year Built / Renovated 1931 / 2006

Building Dimensions 27.5 ft x 70 ft

WINTHROP STREET

HAWTHORNE STREET

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ROGERS AVENUE 15,300 VPD

WIN

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SUITE TENANT EXPIRATION MONTHLY ANNUAL

1a Studio 1/31/2019 $1,250 $15,000

1b* Studio $1,350 $16,200

1c 1 - Bedroom 9/1/2019 $1,508 $18,096

1d 1 - Bedroom 9/30/2019 $1,508 $18,096

2a 1 - Bedroom 9/30/2019 $1,500 $18,000

2b* Studio $1,350 $16,200

2c Studio 10/14/2019 $1,400 $16,800

2d 1 - Bedroom 11/30/2018 $1,340 $16,080

3a Studio $1,464 $17,568

3b Studio 4/30/2019 $1,350 $16,200

3c 1- Bedroom 4/30/2019 $1,400 $16,800

3d 1 - Bedroom 8/31/2020 $1,350 $16,200

CURRENT OCCUPANCY PERCENT CURRENT TOTAL RENT $201,240

VACANT 0% AVERAGE RENT PER SF $2.90

OCCUPIED 100% TOTAL MONTHLY RENT $16,770

TOTAL 100% TOTAL ANNUAL RENT $201,240

Rent Roll

Note: * Pro Forma numbers applied as space is to be occupied imminently.

11/30/2018


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LEFFERTS GARDENS


Retail Map

*Borders are approximate and to be used for reference purposes only.


LEFFERTS GARDENS


10

*Borders are approximate and to be used for reference purposes only.

Regional Map

Atlantic Ocean

CONNECTICUT

NEW JERSEY

NEW YORK

NEW HAVEN

FAIRFIELD

BRONX

STATEN ISLAND

LONG BRANCH

BROOKLYN

QUEENS

MANHATTAN LONG ISLAND

EAST HAMPTON

NEWARK

STAMFORD

GREENWICH

SUBJECT PROPERTY

593 ROGERS AVENUE BROOKLYN, NY


LEFFERTS GARDENS


Demographic Overview


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LEFFERTS GARDENS



LEFFERTS GARDENS


Documents

593 ROGERS AVENUE | BROOKLYN, NEW YORK 593 ROGERS ….... 1/« « %((% $ ,«« PROSPECT - 1 LEFFERTS GARDENS 593 ROGERS AVENUE | BROOKLYN, NEW YORK 593 ROGERS AVENUE, BROOKLYN, NEW