455 Utica AveBrooklyn, NY 11203

Property Details for 455 Utica Ave

Year built

1993

Lot size

0.04 AC

Property size (Sq ft)

3,292 SF

Zone code

C8-2

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

04591-0080

APU

45910080

Description

This exceptional 2,000-square-foot restaurant space is ideally situated at 455 Utica Avenue in Brooklyn, New York, within the vibrant Crown Heights and East Flatbush neighborhoods. The property boasts a single-tenant occupancy and is zoned C8-2, offering significant potential for a variety of culinary ventures. The building's interior is already fully built out as a restaurant, minimizing initial setup costs and allowing for a swift commencement of operations. The location benefits from excellent visibility and accessibility, situated between East New York Avenue and Maple Street. Public transportation is readily available, with the 3 train at the Sutter Avenue-Rutland Road station within walking distance. Additional transit options include the 2, 3, 4, and 5 trains at Crown Heights-Utica Avenue, as well as the B12, B17, and B46 bus lines. The area enjoys a high concentration of foot traffic and boasts a strong retail presence, with nearby establishments including Chase, Citi Bank, Blink Fitness, Walgreens, Wendy's, McDonald's, Apple Bank, C-Town Supermarkets, White Castle, and Dunkin'. This prime location offers unparalleled convenience and exposure, making it an exceptional opportunity for a discerning restaurateur seeking a thriving business environment in a densely populated and highly accessible area of Brooklyn, Kings County, New York, zip code 11203.

• CAP approach

  CAP return

  Valuation

  6%

  $674,890

  6.5%

  $622,975

  7%

  $578,477

• Comparable approach

  Method

  Valuation

  Relative Method

  $666,706

  Geo Method

  $666,706

• Alternative Use

  Use

  Valuation

  Residential

  $622,975

  Hospitality

  $570,642

  Educational

  $474,767

  Medical

  $491,095

  Retail

  $738,527

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6623

Longitude

-73.9312

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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