Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1249 Utica Ave Brooklyn, NY 11203

    For Sale
    $7,250,000

    High-Yield, 100% Occupied Retail Portfolio

    Property size:
    16,958 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional Brooklyn investment opportunity presents a 16,958 square foot, fully occupied retail property situated at the corner of Utica Avenue and Avenue D. The property comprises two buildings on four tax lots, featuring seven ground-floor retail units, one second-floor office space, and three free-market apartments. The anchor tenant is a Dollar Tree, occupying 9,486 square feet with a corporate-guaranteed ten-year lease expiring June 2027, including three five-year renewal options with 10% rent increases each period. The remaining units contribute to a strong, diversified income stream. The property boasts 225 feet of combined retail frontage, benefiting from high visibility and foot traffic, further enhanced by the B46 bus line's proximity (NYC's 6th busiest route). Built in 2015, with renovations completed in 2016, the property includes a basement in the corner building. Three of the four tax lots benefit from a 25-year ICAP tax abatement expiring June 30, 2042, significantly reducing property taxes. The current NOI is $482,355, with a pro-forma NOI of $498,959, resulting in a 6.65% cap rate and a pro-forma cap rate of 6.88%. The asking price is $7,250,000, representing a price per square foot of $427.53. This stabilized investment offers a compelling combination of strong cash flow, long-term lease security, and significant upside potential in a prime Brooklyn location. The property is zoned C8-1.

    Property Features for 1249 Utica Ave

    General Information

    Property type
    Lifestyle centers
    Square Feet
    16,958 SF

    Building Details

    Year Built
    2015
    Buildings
    2
    Stories
    2
    Units
    11

    HighLights

    • 16,958 SF corner retail property in Brooklyn, NY.
    • Fully occupied with 7 ground floor retail units, 1 office unit, and 3 free‑market apartments.
    • High‑visibility location at Avenue D and Utica Avenue, offering 225 feet of retail frontage.
    • Anchor tenant Dollar Tree with a corporate‑guaranteed 10‑year lease (through June 2027) and renewal options.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    New Life Group ... Medical Group United Deli & Grill Deli

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9289556
    Latitude
    40.6419988

    Nearby Similar for Sale

    • $2,950,000
      12,000 SF

      Brooklyn Multifamily Portfolio: 16 Units

      Two contiguous buildings with 16 units in Columbia Waterfront District.
      96 Baltic St, Brooklyn, NY 11201
      View Details
    • $2,099,000
      Pending

      Victorian Home in Ditmas Park

      Charming Victorian home, legal 3-family, close to transportation and shopping.
      793 Westminster Rd, Brooklyn, NY 11230
      View Details
    • New
      $1,585,000
      1,870 SF

      Two-Family Home in Greenwood Heights

      Two-family home with income potential in evolving Greenwood Heights.
      200 31St St, Brooklyn, NY 11232
      View Details
    • $4,999,000
      3,060 SF

      Renovated Brownstone in Park Slope

      Impeccably renovated three-family brownstone in prime Park Slope location.
      645 Carroll St, Brooklyn, NY 11215
      View Details
    • $7,250,000
      11,250 SF

      Renovated Commercial Building in Brooklyn

      Versatile commercial space in Bedford-Stuyvesant, ideal for owner-users.
      405 Gates Ave, Brooklyn, NY 11216
      View Details
    • $1,899,000
      2,032 SF

      Brooklyn Multi-Unit Home with Garages

      Large corner property with income potential in Bath Beach.
      8686 Bay 16Th St, Brooklyn, NY 11214
      View Details

    FAQs

    What type of property is this?
    Lifestyle center - High-Yield, 100% Occupied Retail Portfolio
    Where is this lifestyle center located?
    The property is located at 1249 Utica Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $7,250,000.
    What are key features of this property?
    This property features: 16,958 SF corner retail property in Brooklyn, NY.; Fully occupied with 7 ground floor retail units, 1 office unit, and 3 free-market apartments.; High-visibility location at Avenue D and Utica Avenue, offering 225 feet of retail frontage.
    Request Owner's contact information
    1249 Utica Ave Brooklyn, NY 11203
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1249 Utica Ave
    Brooklyn, NY 11203
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1249 Utica Ave Brooklyn, NY 11203
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.