Two-Story Mixed-Use
For Sale
$1,550,000
847 Utica Avenue, Brooklyn, NY 11203
Renovated commercial space anchors two residential units with a finished basement, central air, and backyard area.
Property Size2,600 SF
Days on Market261
Property Features for 847 Utica Avenue
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Commercial
Zoning
R5/C1-2
Taxes and HOA fees
Annual Taxes
$25,007
Building Details
Building Size
2,600 SF
Year Built
1931
Stories
2
Units
1
Listing Agency:
Exit Realty First Choice
(914) 382-2129
Listed By:
Irania Stephens
(914) 382-2129
Source:
Cohenandcohenrealty
Added: Nov 26, 2025
Changed: Aug 2
Last Checked: Aug 13 at 12:10PM
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 Exit Realty First Choice
Investment Insights
Based on property information with market context.
This two-story mixed-use property combines a renovated commercial space at street level with two residential units above. The upper floor includes a renovated two-bedroom unit and a separate one-bedroom unit, while the shared staircase and hallway are sprinklered. The commercial portion is equipped with a 10-ton central A/C system and connects to an expansive backyard. A fully finished basement adds usable support space to the building.
The property is located at 847 Utica Avenue in Brooklyn, near Church Avenue and within the East Flatbush shopping area. Built in 1931, the building carries R5/C1-2 zoning, supporting its mixed commercial and residential configuration.
The property is located at 847 Utica Avenue in Brooklyn, near Church Avenue and within the East Flatbush shopping area. Built in 1931, the building carries R5/C1-2 zoning, supporting its mixed commercial and residential configuration.
Key Highlights
- Mixed‑use building with commercial space and two residential units
- Renovated two‑bedroom and one‑bedroom units on the upper floor
- Renovated ground‑floor commercial space with 10‑ton central A/C
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
$124,682
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
8.04%
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%
$2,493,640
$2.5M
Cap Rate 7%
$1,781,171
$1.8M
Cap Rate 9%
$1,385,356
$1.4M
Market Conditions
NOI Build-Up for 2,600 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
$202.2K $77.76/SF
− Vacancy
−$24.1K −$9.25/SF
EGI
$178.1K $68.51/SF
− OpEx
−$53.4K −$20.55/SF
NOI
$124.7K $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%
$2,493,640
Cap Rate 7%
$1,781,171
Cap Rate 9%
$1,385,356
Alternative Uses
Best Use
Retail
$1.78M
$1.56M – $2.08M
NOI $124,682 @ 7.0% cap · market cap 8.04%
Second Best
Mixed Use
$1.35M
$1.18M – $1.57M
NOI $94,380 @ 7.0% cap · market cap 6.09%
Theoretical Best
Specialty Retail
$2.15M
$1.88M – $2.51M
NOI $150,696 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,058
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
Median Home Value
Market
Vacancy Rate% for Multifamily 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 - Renovated commercial space anchors two residential units with a finished basement, central air, and backyard area.
Where is this mixed-use property located?
The property is located at 847 Utica Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Mixed‑use building with commercial space and two residential units; Renovated two‑bedroom and one‑bedroom units on the upper floor; Renovated ground‑floor commercial space with 10‑ton central A/C
