Mixed-Use Income Property
For Sale
$2,100,000
2149 Utica Avenue, Brooklyn, NY 11234
Two adjacent mixed-use income properties with commercial and residential occupancy plus additional vacant commercial space to lease.
Property Size3,135 SF
Days on Market56
Property Features for 2149 Utica Avenue
General Information
Standard status
Active
Size
3,135 SF
Property subtype
Commercial
Zoning
R3-2
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$15,607
Building Details
Building Size
3,135 SF
Year Built
1931
Listing Agency:
5 Boro Realty Corp
(917) 705-0005
Listed By:
Nina Sabag · License #1020364
(917) 705-0005
Source:
Cohenandcohenrealty
Added: Jun 30
Changed: Aug 24
Last Checked: Aug 23 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 5 Boro Realty Corp
Investment Insights
Based on property information with market context.
This offering features two adjacent income-producing properties at 2149–2151 Utica Avenue. The buildings provide a mixed-use setup with both commercial and residential occupancy, supported by established tenants. The current arrangement includes additional vacant commercial space available for lease, allowing an operator to potentially increase occupancy over time. The property is described as well-maintained, with tenants showing a history of timely rent payments.
Situated along Utica Avenue in Brooklyn, the properties are presented as having strong accessibility and visibility within the corridor. The tenant base is described as long-term, with dependable rent collections. Current income is reported as approximately $147,228 gross annually and approximately $97,978 net annually.
For investors or owner-users looking for a turnkey-style mixed-use position, the combination of existing commercial and residential tenants with on-time payment history may help reduce near-term leasing risk. The availability of an additional vacant commercial unit creates a practical path to improve income through leasing. Buyers should review the vacant space details during due diligence to confirm fit with their leasing plans and operating objectives.
Situated along Utica Avenue in Brooklyn, the properties are presented as having strong accessibility and visibility within the corridor. The tenant base is described as long-term, with dependable rent collections. Current income is reported as approximately $147,228 gross annually and approximately $97,978 net annually.
For investors or owner-users looking for a turnkey-style mixed-use position, the combination of existing commercial and residential tenants with on-time payment history may help reduce near-term leasing risk. The availability of an additional vacant commercial unit creates a practical path to improve income through leasing. Buyers should review the vacant space details during due diligence to confirm fit with their leasing plans and operating objectives.
Key Highlights
- Two adjacent mixed‑use income properties at 2149–2151 Utica Avenue, Brooklyn, NY 11234
- Current gross annual income of approximately $147,228 and net annual income of approximately $97,978
- Established tenants with a history of timely/on‑time rent payments supporting current income
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
$150,338
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
7.16%
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%
$3,006,760
$3.0M
Cap Rate 7%
$2,147,686
$2.1M
Cap Rate 9%
$1,670,422
$1.7M
Market Conditions
NOI Build-Up for 3,135 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
$243.8K $77.76/SF
− Vacancy
−$29.0K −$9.25/SF
EGI
$214.8K $68.51/SF
− OpEx
−$64.4K −$20.55/SF
NOI
$150.3K $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%
$3,006,760
Cap Rate 7%
$2,147,686
Cap Rate 9%
$1,670,422
Alternative Uses
Best Use
Retail
$2.15M
$1.88M – $2.51M
NOI $150,338 @ 7.0% cap · market cap 7.16%
Second Best
Mixed Use
$1.63M
$1.42M – $1.90M
NOI $113,801 @ 7.0% cap · market cap 5.42%
Theoretical Best
Specialty Retail
$2.60M
$2.27M – $3.03M
NOI $181,705 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,922
Businesses Nearby
166k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 30%
Groceries 10%
Hotels & Casinos 2%
McDonald's
Dining
44,677 visits/mo
0.2 miles
Speedway
Shops & Services
24,099 visits/mo
0.5 miles
Dollar Tree
Shops & Services
20,258 visits/mo
0.4 miles
Key Food
Groceries
17,150 visits/mo
0.2 miles
7-Eleven
Shops & Services
10,136 visits/mo
0.1 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two adjacent mixed-use income properties with commercial and residential occupancy plus additional vacant commercial space to lease.
Where is this mixed-use property located?
The property is located at 2149 Utica Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Two adjacent mixed‑use income properties at 2149–2151 Utica Avenue, Brooklyn, NY 11234; Current gross annual income of approximately $147,228 and net annual income of approximately $97,978; Established tenants with a history of timely/on‑time rent payments supporting current income
