Corner Mixed-Use Retail and
187 Utica Avenue Brooklyn, NY 11213
187 Utica Avenue, Brooklyn, NY, 11213
$2,495,000
For Sale
$2,495,000
Brick mixed-use corner building with ground-floor commercial space and five renovated apartments totaling about 6,000 SF.
Property Size5,942 SF
Price / SF$419.89
Days on Market175
Property Features for 187 Utica Avenue
General Information
- Standard status
- Active
- Size
- 5,942 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1910
Listing agency
Revived Residential
(929) 379-3750
Listed by
Candice Ficalora · License #CF0492
(929) 379-3750
Source
Compass
Added: Jan 28 Updated: Jul 21 at 3:35AM Checked: Jul 21 at 3:35AM
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 Revived Residential
Investment Insights
Based on property information with market context.
187 Utica Avenue is a brick mixed-use corner building featuring ground-floor commercial space and five renovated box-style apartments. The building spans approximately 6,000 GSF, with renovated apartment units averaging about 900 Net SF each.
The property is about 28 feet wide and offers more than 100 feet of frontage along Utica/Park Place, positioned on a busy retail corridor. It also has convenient access to public transit, with the Utica Avenue subway station described as minutes away.
The residential component is described as generating upwards of $291,000 gross annually, and the asset is noted to have a favorable tax class 2A that limits future tax increases. The new owner will have an opportunity to sign a new retail tenant for the ground-floor space.
The property is about 28 feet wide and offers more than 100 feet of frontage along Utica/Park Place, positioned on a busy retail corridor. It also has convenient access to public transit, with the Utica Avenue subway station described as minutes away.
The residential component is described as generating upwards of $291,000 gross annually, and the asset is noted to have a favorable tax class 2A that limits future tax increases. The new owner will have an opportunity to sign a new retail tenant for the ground-floor space.
Key Highlights
- Brick mixed‑use corner building on Utica Ave/Park Place with ground‑floor commercial space plus 5 residential apartments
- Approximately 6,000 GSF total: 5 apartments averaging about 900 Net SF each
- Over 100’ frontage along Utica/Park Place; building width is about 28’
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $336.6k | $56.64 |
| − Vacancy | −$6.7k | −$1.13 |
| EGI | $329.8k | $55.51 |
| − OpEx | −$148.4k | −$24.98 |
| NOI | $181.4k | $30.53 |
5,942 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Retail
$4.07M
$3.56M – $4.75M
NOI $284,946 @ 7.0% cap · market cap 11.42%
Second Best
Apartment 5plus
$2.59M
$2.27M – $3.02M
NOI $181,403 @ 7.0% cap · market cap 7.27%
Theoretical Best
Specialty Retail
$4.92M
$4.30M – $5.74M
NOI $344,398 @ 7.0% cap · market cap 13.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
We Cut Salon
Hair Salon
With Imani Lee ...
Spa & Massage Center
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FAQs
What type of property is this?
Apartment building - Brick mixed-use corner building with ground-floor commercial space and five renovated apartments totaling about 6,000 SF.
Where is this apartment building located?
The property is located at 187 Utica Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Brick mixed‑use corner building on Utica Ave/Park Place with ground‑floor commercial space plus 5 residential apartments; Approximately 6,000 GSF total: 5 apartments averaging about 900 Net SF each; Over 100’ frontage along Utica/Park Place; building width is about 28’
