Corner Drive-Thru Retail
For Sale
Contact for pricing
2343 Utica Ave, Brooklyn, NY 11234
Corner development site with 350' frontage on Utica Avenue and two in-place leases expiring in 2025 and 2027.
Property Size34,876 SF
Price / SF$630.81
Days on Market349
Property Features for 2343 Utica Ave
General Information
Standard status
Active
Size
34,876 SF
Property subtype
RETAIL
Listing Agency:
M.C. O’Brien, Inc.
(718) 252-9191
Listed By:
Caxton Kaback
(917) 428-1019
Source:
Moodyscre
Added: Nov 20, 2025
Changed: Nov 2
Last Checked: Nov 3 at 6:33AM
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 M.C. O’Brien, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This corner development site is positioned with 350' of frontage on Utica Avenue and includes an existing drive-thru QSR lease in place. A separate retail building lease is also in place, creating a built-in schedule of near- and mid-term rollover.
The property is located at 2343 Utica Ave, Brooklyn, NY 11234. Public remarks indicate strong visibility and traffic, and the corner configuration supports prominent street presence.
Lease terms noted in the offering include a drive-thru QSR lease expiring on 12/31/25 and a retail building lease expiring in Q1 2027.
The property is located at 2343 Utica Ave, Brooklyn, NY 11234. Public remarks indicate strong visibility and traffic, and the corner configuration supports prominent street presence.
Lease terms noted in the offering include a drive-thru QSR lease expiring on 12/31/25 and a retail building lease expiring in Q1 2027.
Key Highlights
- Corner development site with 350' frontage on Utica Avenue
- In‑place lease income: Drive‑thru QSR lease expires 12/31/25
- In‑place lease income: retail building lease expires Q1 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$2,021,413
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$40,428,260
$40.4M
Cap Rate 7%
$28,877,329
$28.9M
Cap Rate 9%
$22,460,144
$22.5M
Market Conditions
NOI Build-Up for 34,876 SF
Gross rent
$2.93M $84.00/SF
− Vacancy
−$234.4K −$6.72/SF
EGI
$2.70M $77.28/SF
− OpEx
−$673.8K −$19.32/SF
NOI
$2.02M $57.96/SF
Area
Brooklyn, NY
Vacancy
8.00%
Lease Rate
$84.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$40,428,260
Cap Rate 7%
$28,877,329
Cap Rate 9%
$22,460,144
Alternative Uses
Best Use
Specialty Retail
$28.88M
$25.27M – $33.69M
NOI $2,021,413 @ 7.0% cap · market cap 9.19%
Second Best
Retail
$23.89M
$20.91M – $27.87M
NOI $1,672,464 @ 7.0% cap · market cap 7.60%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,447
Businesses Nearby
316k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 40%
Shops & Services 31%
Dining 16%
Electronics 6%
Lowe's
Home Improvements & Furnishings
71,781 visits/mo
0.4 miles
McDonald's
Dining
44,677 visits/mo
0.3 miles
The Home Depot
Home Improvements & Furnishings
38,000 visits/mo
0.5 miles
Speedway
Shops & Services
24,099 visits/mo
0.1 miles
P.C. Richard & Son
Electronics
20,284 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
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- Sympathy Flowers — 1995 Flatbush Ave, Brooklyn, NY 11234
- Same Day Flower Delivery — 1991 Flatbush Ave, Brooklyn, NY 11234
Frequently Asked Questions
What type of property is this?
Storefront property - Corner development site with 350' frontage on Utica Avenue and two in-place leases expiring in 2025 and 2027.
Where is this storefront property located?
The property is located at 2343 Utica Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $22,000,000.
What are key features of this property?
This property features: Corner development site with 350' frontage on Utica Avenue; In‑place lease income: Drive‑thru QSR lease expires 12/31/25; In‑place lease income: retail building lease expires Q1 2027
