1249 Utica Ave Brooklyn, NY 11203-5911
Property profile & analytics
1249 Utica Ave Brooklyn, NY 11203-5911
- Retail residential properties
- 8,000 SF
- 0.09 lot acres
Property ID
US63-4637357
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- New Life Group LLC / Medical Group
- United Deli & Grill / Food Market / Restaurant
Property Details for 1249 Utica Ave
- Year built
- 1965
- Lot size
- 0.09 lot acres
- Property size
- 8,000 SF
- Zone code
- C8-1
- Property type
- Retail residential properties
- APN
- 04781-0001
- APU
- 47810001
Description
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.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,195,000
Market price range: $1.61M - $3.20M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $2,355,000 Current use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.929
- Latitude
- 40.642
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$51,048
$216,000
$265,950
$481,950
-
$480,000
$591,000
$1,071,000
