1080 Utica Ave Brooklyn, NY 11203

Property Details for 1080 Utica Ave

Property size

10,000 SF

Property type

Day care centers

Property subtype

Retail properties

Description

This exceptional 10,000-square-foot, two-story commercial building in Brooklyn, New York, presents a compelling investment or end-user opportunity. Located on a prominent corner of Utica Avenue in East Flatbush (zip code 11203), this property boasts a strong rental history and significant recent capital improvements. The building is currently 100% occupied, generating a net operating income (NOI) of nearly $186,000 annually, representing a 6.2% cap rate on the $3,000,000 asking price. The property features six distinct retail spaces on the ground floor, five of which face Utica Avenue and a secondary street, along with a 3,500-square-foot commercial space on the second floor currently leased to a church. The diverse tenant mix includes a daycare, cell phone shop, barber shop, event space, and ironworks, demonstrating the property's versatility and consistent occupancy. A fully gated 900-square-foot yard adds to the property's appeal. Extensive recent capital improvements include the complete replacement of all three roofs (with warranties transferable to the new owner), exterior façade resealing, and installation of a new commercial HVAC condenser. The building is free of violations and enjoys a history of on-time rental payments. This property offers a rare combination of strong cash flow, significant recent upgrades, and a prime location in a high-traffic area, making it an ideal investment or a flexible space for an owner-user. The property can be delivered either fully occupied or vacant, catering to diverse buyer needs.

Location Insight

City

Brooklyn

County

Kings

State

New York

Longitude

-73.93

Latitude

40.6464