Description

408 Rogers Ave. — Prospect Lefferts Gardens
Asking Price: $1,850,000 | NOI: $114,460 | Cap Rate: 6.19%

Presenting this robust mixed-use building, featuring one of Brooklyn's most elegant and authentic commercial restaurant, lounge, and music venues in the borough. The property also offers two spacious split-bedroom, identical residential units — one with private outdoor space. Priced at $1,850,000 with an NOI of $114,460, this offering delivers a strong 6.19% cap rate — a compelling return backed by stable, quality income streams.

The continued renaissance of all things PLG is truly dynamic. Rogers Ave. has added a wealth of goods and services enhancing the lifestyle of the community. Subway access is abundant, with easy access to the 2/5/Q/B/S lines. Prospect Park and the Brooklyn Botanic Garden are both close by, and Lindl, Lincoln Market, and Western Beef offer a variety of quality supermarkets nearby.

Both two-bedroom/one-bath units are impeccable, sitting comfortably above the retail space in vibrant Prospect Lefferts Gardens. Each is a bright floor-through featuring new floors, appliances, lighting, and split-systems alongside radiators. One unit offers a large private outdoor space, adding tremendous value throughout spring, summer, and fall. Both units present spacious living areas with separate dining areas, offering tremendous comfort and livability.

The commercial space is something the building owner can truly be proud of — a well-received venue that draws an elegant yet authentic crowd, with an aesthetic among the best in Brooklyn.

Of tremendous additional value: roughly 1,500 sq. ft. of buildable space represented in additional FAR — offering strong upside potential beyond the current 6.19% return.

This is a rare opportunity to acquire an income-producing asset in one of Brooklyn's fastest-growing neighborhoods. At a 6.19% cap rate, 408 Rogers Ave. offers an attractive yield for both cash-flow-focused and long-term investors. With turnkey residential units, a thriving commercial tenant, and roughly 1,500 sq. ft. of untapped FAR, the property combines steady income with real upside. Ownership is ready to engage with serious, qualified buyers. Full financials available upon request — schedule your showing today. Listing courtesy of Corcoran Group ...
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