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    Property profile & analytics

    1348 Utica Ave Brooklyn, NY 11203

    • Auto shops
    • 1,200 SF
    • 0.05 lot acres
    For Sale
    View listing
    $750,000
    Last Sale
    May 09, 2023
    $600,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2728471
    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.

    Current Use by Public Records

    • RH Auto Repair Corp. / Auto Repair Shop

    Property Details for 1348 Utica Ave

    Year built
    1931
    Lot size
    0.05 lot acres
    Property size
    1,200 SF
    Zone code
    M1-1
    Property type
    Auto shops
    APN
    04784-0008
    APU
    47840008

    Description

    This exceptional investment opportunity presents a vacant 1,600-square-foot warehouse situated on a 0.05-acre lot at 1348 Utica Avenue in the East Flatbush section of Brooklyn, New York, zip code 11203. The property is zoned M1-1 and offers significant potential for a variety of uses. The main warehouse space measures 20 feet wide by 80 feet long, providing ample room for storage or manufacturing. In addition to the ground floor warehouse, there is an approximately 500-square-foot office space located on the second floor, adding versatility to the property. The total building area, including the upstairs office, is approximately 2,100 square feet. This property is ideally located in a vibrant and accessible area of Brooklyn, offering easy access to major transportation routes and a strong local market. The asking price for this turnkey warehouse is $750,000. This represents a compelling opportunity for investors seeking a well-located, versatile industrial property in a rapidly developing area of Brooklyn. The property is currently vacant, allowing for immediate occupancy and customization to suit the buyer's specific needs. Don't miss this chance to acquire a valuable asset in a prime Brooklyn location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $600,000
      ML approach
      $590,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $939,000
      Market price range: $415k - $1.69M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9294
    Latitude
    40.6395
    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
    $6,663
    $22,500
    $57,150
    $79,650
    -
    $50,000
    $127,000
    $177,000

    Comparable in this City

    • Value Estimation
      $295,000
      0.05 Acres

      427 Linden Blvd, Unit B2

      AUTO REPAIR, GARAGE • 0.05 Acres
      427 Linden Blvd, Brooklyn, NY 11203-2833
      View Details
    • Value Estimation
      $355,000
      3,360 SF

      1418-1420 Utica Ave

      AUTO REPAIR, GARAGE • 3,360 SF
      1418-1420 Utica Ave, Brooklyn, NY 11203
      View Details
    • Value Estimation
      $340,000
      1,880 SF

      1422 Utica Ave

      AUTO REPAIR, GARAGE • 1,880 SF
      1422 Utica Ave, Brooklyn, NY 11203-6616
      View Details
    • Value Estimation
      $370,000
      3,000 SF

      942-946 51st St

      AUTO REPAIR, GARAGE • 3,000 SF
      942-946 51st St, Brooklyn, NY 11203
      View Details
    • Value Estimation
      $360,000
      2,508 SF

      4909-4911 Farragut Rd

      AUTO REPAIR, GARAGE • 2,508 SF
      4909-4911 Farragut Rd, Brooklyn, NY 11203
      View Details
    • Value Estimation
      $1,745,000
      4,872 SF

      1510-1514 Schenectady Ave

      AUTO REPAIR, GARAGE • 4,872 SF
      1510-1514 Schenectady Ave, Brooklyn, NY 11203
      View Details

    Similar Nearby for Sale

    • $3,000,000
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      Brooklyn Land For Sale

      Land available in Brooklyn with R5 zoning and C2-2 Overlay.
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      Brooklyn Garage and Body Shop

      Turnkey body shop and garage in East Flatbush for sale.
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    • New
      $1,049,000
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      Established Mechanic Shop and Building

      Turn-key mechanic shop business and building on Utica Avenue.
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    • $3,000,000
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      Prime Brooklyn Commercial Building

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      Brooklyn Mixed-Use Investment Opportunity

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    Similar Nearby for Lease

    • $4,800 /Mo
      2,041 SF

      East Flatbush Warehouse For Rent

      East Flatbush warehouse for rent in Brooklyn, New York.
      1392 Utica Ave, Brooklyn, NY 11203
      View Details
    • $12,000 /Mo
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      Brooklyn Retail Space with Parking

      Corner retail location in Brooklyn with parking included in rent.
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    • Contact for pricing
      200 SF

      Brooklyn Commercial Kitchen Space

      Prime 250 sq ft Ghost Kitchen, Utica Ave
      1140 Utica Ave, Brooklyn, NY 11203
      View Details
    • $50 SF/Yr
      6,300 SF

      Prime East Flatbush Retail Space

      Retail space in high-traffic East Flatbush location with signage opportunity.
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      View Details
    • Contact for pricing
      3,000 SF

      Brooklyn Retail Space For Rent

      Retail spaces available with glass storefront and wide frontage.
      902-910 Clarkson Ave, Brooklyn, NY 11203
      View Details
    • Contact for pricing
      900 SF

      Brooklyn Retail Space For Rent

      900 SF retail space in a busy Brooklyn location.
      529-535 Utica Ave, Brooklyn, NY 11203
      View Details
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    1348 Utica Ave
    Brooklyn, NY 11203
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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