Auto Shop with On-Site
For Sale
Contact for pricing
1844 Utica Ave, Brooklyn, NY 11234
Vacant auto body facility with commercial corridor exposure, customer parking, and C8-1 zoning.
Property Size5,330 SF
Lot Size0.21 Acres
Price / SF$524.39
Days on Market147
Property Features for 1844 Utica Ave
General Information
Standard status
Active
Size
5,330 SF
Lot size
0.21 Acres
Property subtype
Industrial
Zoning
C8-1
Additional Details
Road Access
Yes
Amenities
on-site parking
Building Details
Year Built
1931
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Cushman & Wakefield New York
(718) 307-6517
Listed By:
Dylan Walsh · License #10401384207
Source:
Crexi
Added: Apr 8
Changed: Aug 31
Last Checked: Aug 31 at 3:44AM
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 Cushman & Wakefield New York
Investment Insights
Based on property information with market context.
The property consists of a 5,330-square-foot auto body shop on a 9,000-square-foot lot. Built in 1931, the facility includes on-site parking and can be delivered vacant, allowing for immediate owner-user occupancy or investment repositioning. Its 90 feet of frontage supports visibility along Utica Avenue.
Located in Brooklyn’s Flatlands neighborhood, the property fronts Utica Avenue, a commercial and industrial corridor connecting the Brooklyn and Queens marketplaces. C8-1 zoning provides the recorded land-use designation for the site. The combination of an existing automotive improvement, vacant delivery, lot area, parking, and avenue frontage creates a defined commercial property profile.
Located in Brooklyn’s Flatlands neighborhood, the property fronts Utica Avenue, a commercial and industrial corridor connecting the Brooklyn and Queens marketplaces. C8-1 zoning provides the recorded land-use designation for the site. The combination of an existing automotive improvement, vacant delivery, lot area, parking, and avenue frontage creates a defined commercial property profile.
Key Highlights
- 5,330‑square‑foot auto body shop on a 9,000‑square‑foot lot
- 90 feet of frontage along Utica Avenue
- On‑site parking included
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
$255,598
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
9.14%
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%
$5,111,960
$5.1M
Cap Rate 7%
$3,651,400
$3.7M
Cap Rate 9%
$2,839,978
$2.8M
Market Conditions
NOI Build-Up for 5,330 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
$414.5K $77.76/SF
− Vacancy
−$49.3K −$9.25/SF
EGI
$365.1K $68.51/SF
− OpEx
−$109.5K −$20.55/SF
NOI
$255.6K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /SF/Yr
Expense Ratio
30.00%
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%
$5,111,960
Cap Rate 7%
$3,651,400
Cap Rate 9%
$2,839,978
Alternative Uses
Best Use
Retail
$3.65M
$3.19M – $4.26M
NOI $255,598 @ 7.0% cap · market cap 9.14%
Second Best
Industrial
$1.35M
$1.19M – $1.58M
NOI $94,822 @ 7.0% cap · market cap 3.39%
Theoretical Best
Specialty Retail
$4.41M
$3.86M – $5.15M
NOI $308,927 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,437
Businesses Nearby
180k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 25%
Office Supplies 16%
Electronics 2%
McDonald's
Dining
30,212 visits/mo
0.3 miles
Staples
Office Supplies
29,527 visits/mo
0.1 miles
Wendy's
Dining
25,381 visits/mo
0.4 miles
Dollar Tree
Shops & Services
22,241 visits/mo
0.2 miles
KFC
Dining
18,966 visits/mo
0.4 miles
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Vacant auto body facility with commercial corridor exposure, customer parking, and C8-1 zoning.
Where is this auto shop located?
The property is located at 1844 Utica Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: 5,330‑square‑foot auto body shop on a 9,000‑square‑foot lot; 90 feet of frontage along Utica Avenue; On‑site parking included
