1193 Rogers Ave Brooklyn, NY 11226

This exceptional investment opportunity presents a fully vacant, three-story, 2,750 square foot office building located at 1193 Rogers Avenue, Brooklyn, NY 11226. The property boasts a prime corner location, situated on a 2,750 square foot lot, and is a solid brick, semi-attached structure. The building features ten residential units – seven one-bedroom and three two-bedroom apartments, each with a living room and eat-in kitchen – plus two vacant commercial storefronts, each approximately 1,300 square feet. A full basement and a new gas boiler are additional features. The building is zoned R6 and qualifies for the Opportunity Zone program. Projected annual gross income is $322,800, with projected annual expenses of $29,325, resulting in a projected net operating income (NOI) of $293,475 and an 8% capitalization rate. The asking price is $4,000,000, translating to $1,454.55 per square foot. This property offers significant upside potential for long-term investors or developers, with possibilities including conversion to condominiums (given current condo sales of $845 per square foot) or development into affordable housing. The building's location provides high traffic and foot traffic, with proximity to public transportation, shopping, and restaurants. The property is sold as-is. Also known as 2702-2708 Avenue D & 2710-2712 Avenue D.