Property profile

2223 Utica Ave 2231 Brooklyn, NY 11234

OFF-MARKET
Auto shops
Property ID
US63-3904447
990 SF 0.23 ac lot Built 1931
Entity Owned 11-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 10,000 square foot commercial lot presents a unique investment opportunity in the vibrant Brooklyn, New York market. Located at 2223-2231 Utica Avenue, near Avenue O, and boasting a C8-1 zoning classification, this property offers significant development potential. The expansive lot, measuring approximately 100 feet by 100 feet, is currently vacant and ready for immediate development. The property is designated as single-tenant, providing flexibility for a variety of commercial uses. Kings County tax records indicate an annual tax cost of $25,000. The site's existing structure, a 30 x 35 foot office building, could be incorporated into a larger development plan or removed to maximize the buildable area. This location in Brooklyn offers easy access to major transportation routes and a thriving commercial environment. The property's size and zoning make it ideal for a wide range of commercial projects, from retail spaces to office buildings, presenting a compelling opportunity for investors seeking a high-impact development project in a prime Brooklyn location. The zip code is 11234. This is a rare opportunity to acquire a substantial commercial lot in a rapidly developing area.

Property profile

Verified
Property type Auto shops
Use group AUTO REPAIR, GARAGE
Year built 1931
Total area 990 SF
Lot 0.23 ac (10,000 SF)
Zoning code C8-1
APN 07895-0016
UPID US63-3904447

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

2223 Utica Ave, Unit 2231 Brooklyn, NY 11234-3819
Brooklyn metro Census 68200 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$410k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$410k

Owner & transaction history

since 2014
2 recorded transactions
2014
$595,000
2005
Price N/A

Zoning & alternative use

C8-1 · Brooklyn, NY

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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