Mixed-Use Building with
For Sale
Contact for pricing
952 Utica Ave, Brooklyn, NY 11203
Five-unit mixed-use building with potential vacant storefront.
Property Size3,810 SF
Price / SF$472.44
Days on Market1356
Property Features for 952 Utica Ave
General Information
Standard status
Active
Size
3,810 SF
Class
B
Property subtype
Mixed Use, Multifamily
Zoning
R5 (1.25) with a C2-2 Overlay (1.0)
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$119,296
Building Details
Year Built
1931
Buildings
1
Stories
3
Units
5
Listing Agency:
Brown Harris Stevens
Listed By:
Kervin Vales · License #109918089
(212) 396-8244
Source:
Crexi
Added: Jan 21, 2023
Changed: Oct 7
Last Checked: Oct 7 at 11:25AM
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 Brown Harris Stevens
Investment Insights
Based on property information with market context.
This is a 20-foot wide, three-story mixed-use building containing five units. The ground floor features a store currently occupied by a cafe. At the rear of the store is a studio apartment, converted from a former commercial event space. This studio is large enough to be converted into a two-bedroom apartment or integrated with the store. The store can be delivered vacant. The second floor contains two two-bedroom apartments, one at the front and one at the back. The third floor mirrors this layout, with two additional two-bedroom apartments. Each apartment includes a full kitchen, a full bathroom, and a living/dining area. The units feature hardwood floors and 10-foot ceilings, with kitchens equipped with stainless steel appliances. The gas and electric meters, along with the gas boiler and gas water heater, are located in the finished basement, which also provides access to the backyard and courtyard. The store and studio unit are equipped with an HVAC system connected to the building's boiler, while the upper units are heated by radiators.
Key Highlights
- Storefront with potential vacancy, offering immediate income or business opportunity.
- Five‑unit building with diverse income streams (storefront and four apartments).
- Studio apartment with conversion potential (two‑bedroom or expansion of the store).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,303
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,766,060
$2.8M
Cap Rate 7%
$1,975,757
$2.0M
Cap Rate 9%
$1,536,700
$1.5M
Market Conditions
NOI Build-Up for 3,810 SF
Gross rent
$251.5K $66.00/SF
− Vacancy
−$30.2K −$7.92/SF
EGI
$221.3K $58.08/SF
− OpEx
−$83.0K −$21.78/SF
NOI
$138.3K $36.30/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,766,060
Cap Rate 7%
$1,975,757
Cap Rate 9%
$1,536,700
Alternative Uses
Best Use
Mixed Use
$1.98M
$1.73M – $2.31M
NOI $138,303 @ 7.0% cap · market cap 7.68%
Second Best
Apartment 5plus
$1.66M
$1.45M – $1.94M
NOI $116,315 @ 7.0% cap · market cap 6.46%
Theoretical Best
Specialty Retail
$3.15M
$2.76M – $3.68M
NOI $220,828 @ 7.0% cap · market cap 12.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,900
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
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 - Five-unit mixed-use building with potential vacant storefront.
Where is this mixed-use property located?
The property is located at 952 Utica Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Storefront with potential vacancy, offering immediate income or business opportunity.; Five‑unit building with diverse income streams (storefront and four apartments).; Studio apartment with conversion potential (two‑bedroom or expansion of the store).
