ALABAMA AVENUE PORTFOLIO

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1 19-27 Alabama Avenue Brooklyn, NY Qualified Opportunity Zone 1

2 N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E 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 Marcus & Millichap. All rights reserved. 2

3 P R E S E N T E D B Y Matthew R. Peters Licensed Real Estate Salesperson Brooklyn Office Tel: (718) Fax: (718) matthew.peters@marcusmillichap.com License: NY

4 FINANCIAL ANALYSIS 4

5 Pricing Summary Display Offering Price $2,650,000 Location Cypress Hills Number of Lots 4 Lot Size 10,000 Block & Lot 3667 / 8,9,10,11 Qualified Opportunity Zone Yes Combined Taxes $17,180 Gross Square Feet 11,425 Price Per Square Foot $ Year 1 Cap Rate 8.54% Pro Forma Gross Income $276,000 Pro Forma NOI $226,200 Zoning M1-1 FAR Commercial/ Manufacturing 1.0 FAR Community Facility 2.4 FINANCIAL ANALYSIS 5

6 RENT ROLL SUMMARY FINANCIAL ANALYSIS Alabama Avenue Residential Income Unit # of Bedrooms Notes Status PPSF Current Rent Pro Forma Rent 19 Alabama (1 FL) Three Bed / One Bath Approx. 1,065 Delivered Vacant $ $ $ 2, Alabama (2 FL) Three Bed / One Bath Approx. 1,065 M to M $ $ 1, $ 2, Alabama (2 FL) Three Bed / One Bath Approx. 1,065 M to M $ $ 1, $ 2, Alabama (3 FL) Three Bed / One Bath Approx. 1,065 M to M $ $ 1, $ 2, Retail Income Commercial Vacant + Cellar Approx. 2,750 SF Owner Occupied $ $ - $ 5, Commercial Vacant + Cellar Approx. 3,675 SF Owner Occupied $ $ - $ 7, Monthly $ 3,900 $ 23,000 Annually $ 46,824 $ 276,000 Notes: - All Residential Tenants are on Month to Month Leases. - Commercial Space is Currently Owner Occupied and Will Be Delivered Vacant Upon Closing. (Operating Over 40 Years) - Approx. 900 Square Feet of Backyard Space and 1,560 Square Feet of Parking Space in the Front. (5 Legal Parking Spaces) 6

7 OPERATING STATEMENT FINANCIAL ANALYSIS 7

8 CURRENT PRICING FINANCIAL ANALYSIS Renovation Analysis Purchase Price $2,650,000 Renovation Cost $400,000 All In Price $2,950,000 Projected NOI $225,700 Projected CAP Rate $7.40% 8

9 PRICING DETAIL FINANCIAL ANALYSIS 9

10 INVESTMENT OVERVIEW 10

11 PROPERTY OVERVIEW PROPERTY OVERVIEW The subject property is located at Alabama Avenue. The site consists of four contiguous lots and offers four apartment units and one large commercial/industrial space across the existing parcels. The Property 100 feet of frontage on Alabama Avenue between Fulton Street and Atlantic Avenue in the Cypress Hills section of Brooklyn, New York (Block: 03667; Lot: ). The buildings have a combined square footage of 11,425 square feet with 3,935 square feet of residential and 7,490 square feet of commercial/industrial. The buildings sit on a combined lot size of 100 feet by 100 feet with a total lot size of 10,000 Square Feet. The portfolio is currently comprised of 3 legal residential units all floor through three-bedroom, one-bathroom units. There s also currently 4 commercial spaces totaling 7,490 square feet of storage, office and light manufacturing space that will be delivered vacant upon a sale which also offers 825 square feet of backyard space and a 1,500 square foot parking lot allowing up to 5 legal parking spaces. All residential tenants are currently on month to month leases. The building is located in Cypress Hills steps away from the J and Z Train at Alabama Avenue and the A, C, M, L, J and Z Train at Broadway Junction. Also within walking distance to neighborhood amenities along Bushwick Avenue and Fulton Street. The property is zoned M1-1. PROPERTY OVERVIEW Cypress Hills Location Within a Qualified Opportunity Zone Four Contiguous Lots 100 Feet of Frontage on Alabama Avenue 10,000 Square Foot Lot 11,425 Rentable Square Footage Zoned M1-1 Free Market Units Vacant Industrial/Commercial Space with 5 Legal Parking Spaces Walking Distance to the "J" Train at Alabama Avenue and the "A", "C", "L", "J" and "Z" Train at Broadway Junction. Located In a Rapidly Developing Part of Cypress Hills Unique Opportunity for an Owner/User or Investor 11

12 ALABAMA AVENUE 14-Story, 207 Apartment Unit, Mixed-Use Project w/ 1,000 student satellite campus for Cuny Kingsborough Community College (3301 Atlantic Ave) (estimated completion 2020) LOCAL DEVELOPMENT 5-Story, 6 Unit Mixed- Use Building Planned at (2746 Fulton St) 7-Story, 116,50 SF Spaces Medical Office Building w/ 187 Parking Spaces at (101 Pennsylvania Ave) (estimated completion 2019) 10-story, 101 Unit Mixed-Use Affordable Housing Planned at (3008 Atlantic Ave) 2-Story, 44,600 Square Foot Medical Office (2587 Atlantic Ave) (estimated completion 2018) 8-Story, Mixed-Use Project totaling 12,400 sf at (2744 Atlantic Avenue) 5-Story, 54 units totaling 47,048 Square Feet was just completed at (137 Jamaica Ave) 7-Story, 24 Unit Residential Project at (651 Liberty Ave) 9-Story, 218 Apartments, 22,600 Commercial Planned at (50 Pennsylvania Ave) Full amenity Building with laundry, recreation, lobby, fitness and parking 12

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16 PROPOSED CHANGES 16

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18 REGIONAL MAP 18

19 LOCAL MAP 19

20 AERIAL PHOTO 20

21 P R E S E N T E D B Y Matthew R. Peters Licensed Real Estate Salesperson Brooklyn Office Tel: (718) Fax: (718) matthew.peters@marcusmillichap.com License: NY