Mixed-Use Building with Five
For Sale
Contact for pricing
Utica Ave, Brooklyn, NY 11203
Three-story mixed-use building featuring a store and apartments.
Property Size3,810 SF
Price / SF$472.44
Days on Market1365
Property Features for 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
80%
Investment Type
Value Add
Net Operating Income
$36,659
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 24, 2023
Changed: Oct 7
Last Checked: Oct 19 at 5:49AM
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
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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 storefront currently occupied by a beauty salon. Behind the store is a two-bedroom apartment that can be converted into commercial space or connected to the store. The second floor includes a two-bedroom apartment at the front and another two-bedroom apartment at the back. The third floor mirrors this layout, with a two-bedroom apartment at the front and another at the back. 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 a new gas boiler and gas water heater, are located in the finished basement. The apartments are heated by radiators. The finished basement provides access to the backyard and courtyard. The property is located on Utica Ave in Brooklyn, NY.
Key Highlights
- Five‑unit mixed‑use building with store and apartments.
- Ground floor store with convertible two‑bedroom apartment.
- Each apartment features a full kitchen, full bathroom, and living/dining area.
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
Retail
$2.61M
$2.28M – $3.05M
NOI $182,707 @ 7.0% cap · market cap 10.15%
Second Best
Mixed Use
$1.98M
$1.73M – $2.31M
NOI $138,303 @ 7.0% cap · market cap 7.68%
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,249
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story mixed-use building featuring a store and apartments.
Where is this mixed-use property located?
The property is located at 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: Five‑unit mixed‑use building with store and apartments.; Ground floor store with convertible two‑bedroom apartment.; Each apartment features a full kitchen, full bathroom, and living/dining area.
