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    952 Utica Ave Brooklyn, NY 11203
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    952 Utica Ave Brooklyn, NY 11203

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    • Investment properties
    • 5,160 SF
    • 0.04 lot acres
    For Sale
    $1,800,000
    View Listing →
    Mixed-Use Building with Storefront For Sale
    $1,800,000
    3,810 SF

    Mixed-Use Building with Storefront

    Five-unit mixed-use building with potential vacant storefront.

    952 Utica Ave, Brooklyn, NY 11203
    View Listing
    Property ID
    US63-0146755
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Floamod Africa Market & Cafe / Restaurant

    Property Details for 952 Utica Ave

    Year built
    1931
    Lot size
    0.04 lot acres
    Property size
    5,160 SF
    Zone code
    R5
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    04721-0012
    APU
    47210012

    Description

    This exceptional mixed-use property at 952 Utica Avenue in Brooklyn, NY, presents a compelling value-add investment opportunity. The 3,810 square foot, three-story building, constructed in 1931 and partially renovated three years ago, boasts five units: a ground-floor commercial space currently occupied by a café, a studio apartment (convertible to a two-bedroom), and three two-bedroom apartments. All residential units feature full kitchens and bathrooms, hardwood floors, and 10-foot ceilings with stainless steel appliances. The building benefits from a finished basement with backyard access, a gas boiler and water heater, and individual gas and electric meters. The commercial space and studio apartment have an HVAC system connected to the building's boiler

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,917,000
      Market price range: $1.04M - $2.06M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,520,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9305
    Latitude
    40.6497
    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
    $27,155
    $8,100
    $245,250
    $253,350
    -
    $18,000
    $545,000
    $563,000

    Comparable in this City

    • Value Estimation
      $1,010,000
      3,360 SF

      902 Utica Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,360 SF
      902 Utica Ave, Brooklyn, NY 11203-4398
      View Details
    • Value Estimation
      $830,000
      2,720 SF

      1083 Utica Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,720 SF
      1083 Utica Ave, Brooklyn, NY 11203-5305
      View Details
    • Value Estimation
      $970,000
      3,240 SF

      926 Utica Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,240 SF
      926 Utica Ave, Brooklyn, NY 11203-4385
      View Details
    • Value Estimation
      $1,000,000
      3,200 SF

      4525 Church Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,200 SF
      4525 Church Ave, Brooklyn, NY 11203-3113
      View Details
    • Value Estimation
      $940,000
      3,000 SF

      4217-4219 Church Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,000 SF
      4217-4219 Church Ave, Brooklyn, NY 11203
      View Details
    • Value Estimation
      $960,000
      3,360 SF

      5502 Church Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,360 SF
      5502 Church Ave, Brooklyn, NY 11203-3718
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,500 SF

      East Flatbush Commercial Building For Sale

      Two-story commercial building with three fully leased units.
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      5,060 SF

      Brooklyn Mixed-Use Investment Opportunity

      Mixed-use property with retail, residential, and office spaces for sale.
      820 Utica Ave, Brooklyn, NY 11203
      View Details
    • $1,150,000
      2,280 SF

      Mixed-Use Building Near Utica Avenue

      Two-story mixed-use building with retail and residential potential.
      5011 Snyder Ave, Brooklyn, NY 11203
      View Details
    • $1,399,000

      Brooklyn Multi-Family Investment Opportunity

      Multi-family home in East Flatbush, ideal for owner-occupancy and rental income.
      783 Linden Blvd, Brooklyn, NY 11203
      View Details
    • $1,400,000

      Renovated Mixed-Use Brooklyn Property

      Renovated East Flatbush mixed-use property with storefront and residential units.
      3305 Church Ave, Brooklyn, NY 11203
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    Similar Nearby for Lease

    • 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
    • Contact for pricing
      8,000 SF

      Retail Space in New Development

      Retail space available for rent in a new development.
      914 E New York Ave, Brooklyn, NY 11203
      View Details
    • Contact for pricing

      Commercial Kitchen Spaces for Rent

      Private commercial kitchens suitable for catering and food preparation.
      1140 Utica Ave, Brooklyn, NY 11203
      View Details
    • Contact for pricing
      4,500 SF

      Brooklyn Retail Space with Parking

      Corner retail location in Brooklyn with parking included in rent.
      5402-5408 Church Ave, Brooklyn, NY 11203
      View Details
    • $55 SF/Yr
      2,450 SF

      Prime East Flatbush Retail Space

      Retail space in high-traffic East Flatbush location with signage opportunity.
      746 Utica Ave, Brooklyn, NY 11203
      View Details
    • Contact for pricing
      9,000 SF

      Industrial Space with Class A Office

      9,000 SF Brooklyn property featuring warehouse and office space.
      228 51St St, Brooklyn, NY 11203
      View Details
    View Listing
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    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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