873-875 Nostrand Avenue B R O O K L Y N, N Y Qualified Opportunity Zone Offering Price $3,000,000… Listing Metrics

873-875 Nostrand Avenue B r o o k l y n, N Y Qualified Opportunity Zone Offering Price $3,000,000… Listing Metrics

Matthew R. Peters 4 CROWN HEIGHTS Licensed Real Estate Salesperson Brooklyn Office TOTAL UNITS LOCATION Tel: (718) 475-4391 Fax: (718) 475-4310 [email protected] License: NY 10401271961 11,052 4,496 Daniel Reyhan BUILDABLE SF TOTAL SQUARE FEET Licensed Real Estate Salesperson Brooklyn Office Tel: (718) 475-4365 Fax: (718) 475-4310 [email protected] 36.84’ R6, C1-3 License: NY 10401328473 FRONTAGE ZONE1 4503 Flatbush Avenue Brooklyn, NY Presented By: Matthew R. Peters Daniel Reyhan Licensed Real Estate Salesperson Licensed Real Estate Salesperson Brooklyn Office Brooklyn Office Tel: (718) 475-4391 Tel: (718) 475-4365 Fax: (718) 475-4310 Fax: (718) 475-4310 [email protected] [email protected] License: NY 10401271961 License: NY 10401328473

Matthew Peters is a Senior Associate specializing in the sale of multi-family, mixed- Daniel Reyhan is an investment sales specialist based out of Marcus & use, retail & development properties in Central and Eastern Brooklyn. Matthew has Millichap's Brooklyn office. Daniel focuses in the sale of multifamily, mixed-use, successfully brokered numerous transactions and has underwritten more than $2.28 retail and development properties in Central Brooklyn. On a daily basis, Daniel is Billion in individual properties and investment portfolios. In addition, Matthew Peters evaluating properties, advising property owners and executing sales has set multiple price records throughout Central and Eastern Brooklyn. On a day to transactions in the Crown Heights, Flatbush, East Flatbush and Prospect day level, Matthew is evaluating single assets or portfolios, advising property Lefferts Gardens section of Brooklyn. owners, and executing sales transactions on an exclusive basis. Matthew has the Daniel graduated with a Bachelors degree in Philosophy, Politics, and Law. experience, knowledge and track record to accurately analyze and underwrite While he was in his final years of school, Daniel started his own Jewelry line properties, as well as provide clients with the right tools for improving their called Risklitz. As CEO of Risklitz, he has overseen all business operations property's overall performance, allowing them to generate more income and reduce including marketing, collecting money, shipping logistics, client relations, hiring, expenses while holding the asset. Matthew Peters focuses on building long-term and bookkeeping. relationships and putting client's goals and needs above all else. The advisory Daniel is committed to the highest standard of integrity, transparency and services Matt offers allow the owner to get the maximum potential income and professionalism. He and his team advise clients with a long-term perspective value for their investment. Matt focuses on cultivating relationships and utilizing and seek to build relationships that endure well beyond the completion of any market knowledge to provide all his client with a consummate view into the specific transaction. commercial investment sales market. Over the years, Matthew has been able to gain access to the industry's largest network of buyers & sellers of commercial real estate in NYC.

Non-Endorsements Marcus & Millichap 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 Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, 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. Disclaimer THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2 2018 Marcus & Millichap. All rights reserved. 873-875 Nostrand Avenue Brooklyn, NY

PROPERTY OVERVIEW

Marcus & Millichap’s Matthew Peters & Daniel Reyhan are pleased to present the exclusive listing on 873-875 Nostrand Avenue is a two-story masonry mix-use building located on Nostrand Avenue between Crown Street and Carroll Street in the Crown Heights section of Brooklyn, New York (Block: 1290; Lot: 09,10). The building is built approximately 36.84 feet by 71 feet and sits on a 36.84-foot by 100-foot lot.

The property is currently comprised of two adjacent buildings, which offer 2 commercial, and 2 residential units. The property also had 6,556 additional buildable square feet (As-Of-Right) with the 80’ wide street allowing for a 3.0 FAR. Approximately 11,052 buildable square feet ground up. Upon sale, the entire building will be delivered vacant. The first floor is built 36.84’ x 70’ and the second floor is built 36.84’ x 50’.

Within walking distance to the "3" and "4" Trains at Eastern Parkway as well as the "2" and "5" train along Nostrand Avenue. The property is zoned R6, C1-3.

Investment Highlights: ▪ Prime Crown Heights Location ▪ Offers 2 buildings each offering 1 apartment & 1 store ▪ Brick Construction | Built approximately 36.84 Feet by 100 Feet | Approx. 4,496 Square Feet | Additional 6,556 Buildable Square Feet of Air Rights (As-Of-Right). ▪ Within Walking Distance to the "3" and "4" Trains at Eastern Parkway as well as the "2" and "5" train at President Street & “S” at Franklin Avenue ▪ Within Walking Distance to Restaurants, National Retailers, Botanical Gardens, Prospect Park and Medgar Evers College 3 ▪ 15 Minute Commute to Downtown Brooklyn & Manhattan 873-875 Nostrand Avenue Brooklyn, NY FINANCIAL ANALYSIS Pricing Summary Display Offering Price $3,000,000 Location Crown Heights Combined Lot Size 36.84’ x 100’ 3,684 Square Feet Block & Lot 01290-09, 10 Qualified Opportunity Zone Yes Occupancy Owner Occupied Combined Annual Taxes $23,632 Combined Gross Square Feet 4,496 Additional Buildable Square Feet 6,556 Year 1 Gross Income On Existing $189,600 Year 1 NOI On Existing $144,325 Zoning 3.0 FAR R6, C1-3

4 873-875 Nostrand Avenue Brooklyn, NY FINANCIAL ANALYSIS RENT ROLL SUMMARY Rent Roll: 873-875 Nostrand Avenue

Unit Type Status Size Current Rent $/SF Year 1 $/SF Apartment 2L 3 Bedroom Free Market - Vacant 900 $0 $0 $3,300 $44 Apartment 2R 3 Bedroom Free Market - Vacant 900 $0 $0 $3,300 $44 Nostrand Hardware Commercial Owner Occupied 1,200 $0 $0 $4,600 $46 Nostrand Hardware Commercial Owner Occupied 1,200 $0 $0 $4,600 $46 Monthly Revenue $0 $15,800 Annual Revenue $0 $189,600

Notes: • Business Has Been in Operation For 20 Years • Retail is Currently Owner Occupied and Can Be Delivered Vacant • Retail Has Basement & Backyard Access • Additional 6,556 Buildable Square Feet (As-Of-Right). 11,052 Buildable Square Feet From Ground Up • Building Can Be Delivered Vacant • Within Qualified Opportunity Zone 5 873-875 Nostrand Avenue Brooklyn, NY FINANCIAL ANALYSIS OPERATING STATEMENT ON EXISTING Cash Flow

Income Current Per SF % EGI Year 1 Per SF %EGI Gross Potential Income: $ - $ - $ 189,600.0 $ 42.2 Expense Reimbursement: $ - $ - $ - $ - Vacany & Collections: 3% $ - $ - $ (5,688.0) $ (1.3) Gross Effective Income: $ - $ - $ 183,912.0 $ 40.9

Expenses Real Estate Taxes $ (23,632.0) $ (5.3) $ (23,632.0) $ (5.3) Fuel (Gas) $ (4,496.0) $ (1.0) $ (4,496.0) $ (1.0) Water and Sewer $ (1,500.0) $ (0.3) $ (1,500.0) $ (0.3) Insurance $ (1,350.0) $ (0.3) $ (1,350.0) $ (0.3) Repairs & Maintenance $ (1,050.0) $ (0.2) $ (1,050.0) $ (0.2) Payroll $ (1,800.0) $ (0.4) $ (1,800.0) $ (0.4) Electric (Common Area) $ (899.2) $ (0.2) $ (899.2) $ (0.2) Management Fee 3% $ - $ - $ (5,517.4) $ (1.2) Total Expenses: $ (34,727.2) $ (7.7) ##### $ (40,244.6) $ (9.0) 22%

Net Operating Income $ (34,727.2) $ (7.7) $ 143,667.4 $ 32.0 6 873-875 Nostrand Avenue Brooklyn, NY FINANCIAL ANALYSIS CURRENT PRICING

Financial Overview: 873-875 Nostrand Avenue

Pricing Metrics Income Current Year 1 OFFERING PRICE $3,000,000 Gross Scheduled Rent $ - $ 189,600 Number of Units 4 Expense Reimbursements $ - $ - Price/Unit $750,000.00 Vacancy (3%) $ - $ (5,688) Gross Square Feet 4,496 Effective Gross Income $ - $ 183,912 Price/SF $667.26 Less: Expenses $ (34,727) $ (40,245) BuildableCurrent Cap SF Rate 11,052-1.16% Net Operating Income $ (34,727) $ 143,667 Year 1 Cap Rate 4.79% AdditionalCurrent GRM Buildable SF 6,556 Pro Forma GRM 15.82

Property Overview Expenses Property Address 873-875 Nostrand Avenue Real Estate Taxes $ (23,632) $ (23,632) City & Zip Brooklyn, NY 11225 Fuel (gas) $ (4,496) $ (4,496) Block / Lot 01290-09, 10 Utilities - Water & Sewer $ (1,500) $ (1,500) Lot Dimensions 36.84 ft x 100 ft Insurance $ (1,350) $ (1,350) Total Lot Size (SF) 3,684 Repairs & Maintenance $ (1,050) $ (1,050) Zoning R6, C1-3 Payroll $ (1,800) $ (1,800) Electric (Common Area) $ (899) $ (899) Management Fee (4%) $ - $ (5,517) Total Expenses $ (34,727) $ (40,245)7 873-875 Nostrand Avenue Brooklyn, NY FINANCIAL ANALYSIS

8 873-875 Nostrand Avenue Brooklyn, NY FINANCIAL ANALYSIS

9 873-875 Nostrand Avenue Brooklyn, NY FINANCIAL ANALYSIS

10 11 PRESENTED BY

Matthew R. Peters Daniel Reyhan Licensed Real Estate Salesperson Licensed Real Estate Salesperson Brooklyn Office Brooklyn Office Tel: (718) 475-4391 Tel: (718) 475-4365 Fax: (718) 475-4310 Fax: (718) 475-4310 [email protected] [email protected] License: NY 10401271961 License: NY 10401328473