One-Story Garage
For Sale
Contact for pricing
1424-30 Utica Avenue, Brooklyn, NY 11203
Single-story garage-warehouse with two drive-in doors, offices, and skylights in an M-1 zone.
Property Size6,000 SF
Price / SF$383.33
Days on Market64
Property Features for 1424-30 Utica Avenue
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Industrial, Office, Special Purpose
Zoning
M1-1
Additional Details
Drive-In Doors
2
Building Details
Year Built
1931
Stories
1
Listing Agency:
Reliable Sell & Buy Realty Inc
Listed By:
Mark Geller · License #New York
Source:
Crexi
Added: Jun 5
Changed: Jul 10
Last Checked: Aug 7 at 6:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Reliable Sell & Buy Realty Inc
Investment Insights
Based on property information with market context.
This one-story garage/warehouse includes a 6,000 SF warehouse space with skylights, two drive-in doors, and functional support areas. The building also offers two office rooms and three bathrooms, making it suitable for auto repair operations or businesses that need both shop and workspace.
The property is located on Utica Avenue near King Hwy in Brooklyn. Public remarks indicate a high-traffic area and an M1-1 zoning designation, which can support a range of industrial and automotive-related uses, including car repair per the listing.
For tenants, buyers, or operators looking for an automotive-oriented facility with direct drive-in access and on-site offices, the configuration aligns with day-to-day shop operations. The presence of skylights can help with natural light inside the warehouse. Additionally, the listing notes that the owner will finance the mortgage to qualified buyers, which may be relevant for buyers seeking alternative financing terms.
The property is located on Utica Avenue near King Hwy in Brooklyn. Public remarks indicate a high-traffic area and an M1-1 zoning designation, which can support a range of industrial and automotive-related uses, including car repair per the listing.
For tenants, buyers, or operators looking for an automotive-oriented facility with direct drive-in access and on-site offices, the configuration aligns with day-to-day shop operations. The presence of skylights can help with natural light inside the warehouse. Additionally, the listing notes that the owner will finance the mortgage to qualified buyers, which may be relevant for buyers seeking alternative financing terms.
Key Highlights
- 6,000 SF single‑story garage/warehouse built in 1931
- M‑1 zoning with COFO for car repair
- Two drive‑in doors for warehouse access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$149,688
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,993,760
$3.0M
Cap Rate 7%
$2,138,400
$2.1M
Cap Rate 9%
$1,663,200
$1.7M
Market Conditions
NOI Build-Up for 6,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$259.2K $43.20/SF
− Vacancy
−$59.6K −$9.94/SF
EGI
$199.6K $33.26/SF
− OpEx
−$49.9K −$8.32/SF
NOI
$149.7K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,993,760
Cap Rate 7%
$2,138,400
Cap Rate 9%
$1,663,200
Alternative Uses
Best Use
Retail
$4.11M
$3.60M – $4.80M
NOI $287,728 @ 7.0% cap · market cap 12.51%
Second Best
Office B
$2.14M
$1.87M – $2.49M
NOI $149,688 @ 7.0% cap · market cap 6.51%
Theoretical Best
Specialty Retail
$4.97M
$4.35M – $5.80M
NOI $347,760 @ 7.0% cap · market cap 15.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
4,682
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Single-story garage-warehouse with two drive-in doors, offices, and skylights in an M-1 zone.
Where is this flex space located?
The property is located at 1424-30 Utica Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 6,000 SF single‑story garage/warehouse built in 1931; M‑1 zoning with COFO for car repair; Two drive‑in doors for warehouse access
