Building Details

Building Size 3,135 SF

Year Built 1931

Buildings 2

Tenancy Multi

Listing Agency: 5 Boro Realty Corp Show Phone

Listed By: Nina Sabag · License #10311207532 Show Phone

Source: Croninreale

Added: Jun 30 Changed: Oct 23 Last Checked: Oct 23 at 9:51AM

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Investment Insights

Based on property information with market context.

At 2149–2151 Utica Avenue, this mixed-use offering comprises two adjacent properties with commercial and residential occupancy. The recorded property size is 3,135 square feet, and the buildings date to 1931. A vacant commercial unit is available for lease, alongside space occupied by established tenants.

The properties are in Brooklyn, NY, and carry R3-2 zoning.

Key Highlights

• Two adjacent properties at 2149–2151 Utica Avenue
• 3,135 square feet; built in 1931
• R3‑2 zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$150,338

Cap Rate

7.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,006,760 $3.0M

Cap Rate 7%

$2,147,686 $2.1M

Cap Rate 9%

$1,670,422 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,135 SF

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 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 (±1% cap)

NOI $150,338 @ 7.0% cap · market cap 7.16%

Second Best

Mixed Use

$1.63M

$1.42M – $1.90M (±1% cap)

NOI $113,801 @ 7.0% cap · market cap 5.42%

Theoretical Best

Specialty Retail

$2.60M

$2.27M – $3.03M (±1% cap)

NOI $181,705 @ 7.0% cap · market cap 8.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flatbush Copy Center (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Acupuncture Spa & Massage Center Nursing Home

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

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

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercial and residential occupancy is paired with a vacant commercial unit available for 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 properties at 2149–2151 Utica Avenue; 3,135 square feet; built in 1931; R3‑2 zoning