Mixed-Use Building with
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For Sale
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72A Utica Ave, Brooklyn, NY 11213
The property combines two occupied apartments, a vacant retail space, and a backyard.
Property Size1,872 SF
Lot Size0.03 Acres
Price / SF$681.09
Days on Market6
Property Features for 72A Utica Ave
General Information
Standard status
Active
Size
1,872 SF
Lot size
0.03 Acres
Property subtype
Multifamily, Mixed Use
Zoning
R6
Financials
Asking Price
$1,275,000
Cap Rate
8.9%
Gross Income
$128,400
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
Brooklyn Vertical
Listed By:
Dov Chein · License #10311205383
Source:
Crexi
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 3:25PM
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 Brooklyn Vertical
Investment Insights
Based on property information with market context.
At 72A Utica Avenue, this mixed-use property contains a ground-floor retail space, currently vacant, and two occupied apartments configured as 2.5 and 3 bedrooms. A backyard is also part of the property. The existing building contains 1,872 SF on a 17.83' x 75' lot with approximately 1,338 SF of land area.
The property is in Brooklyn, NY 11213, and is zoned R6. It was built in 1920 and carries Tax Class 1. Approximately 1,070 SF of air rights are associated with the property.
The property is in Brooklyn, NY 11213, and is zoned R6. It was built in 1920 and carries Tax Class 1. Approximately 1,070 SF of air rights are associated with the property.
Key Highlights
- Two occupied apartments: one configured as 2.5 bedrooms and one as 3 bedrooms
- Vacant ground‑floor retail space and backyard
- 1,872 SF existing building on a 17.83' x 75' lot
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
$89,771
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
7.04%
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%
$1,795,420
$1.8M
Cap Rate 7%
$1,282,443
$1.3M
Cap Rate 9%
$997,456
$997.5K
Market Conditions
NOI Build-Up for 1,872 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
$145.6K $77.76/SF
− Vacancy
−$17.3K −$9.25/SF
EGI
$128.2K $68.51/SF
− OpEx
−$38.5K −$20.55/SF
NOI
$89.8K $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%
$1,795,420
Cap Rate 7%
$1,282,443
Cap Rate 9%
$997,456
Alternative Uses
Best Use
Retail
$1.28M
$1.12M – $1.50M
NOI $89,771 @ 7.0% cap · market cap 7.04%
Second Best
Mixed Use
$970.8K
$849.4K – $1.13M
NOI $67,954 @ 7.0% cap · market cap 5.33%
Theoretical Best
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,501 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,446
Businesses Nearby
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Business Placement
Demographics for 11213, NY
67,217
Population
29,186
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
61,106
Density / Sq Mi
$62,040
Median Household Income
$43,736
Median Earnings
$1,607
Median Rent
$1,184,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines two occupied apartments, a vacant retail space, and a backyard.
Where is this mixed-use property located?
The property is located at 72A Utica Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Two occupied apartments: one configured as 2.5 bedrooms and one as 3 bedrooms; Vacant ground‑floor retail space and backyard; 1,872 SF existing building on a 17.83' x 75' lot
