Other, 187 UTICA Avenue #, Crown Heights North

Description

Revived Commercial is exclusively retained to sell 187 Utica Ave, a brick mixed-use building, corner property located in the Crown Heights neighborhood of Brooklyn, NY. The building spans approximately 6,000 GSF including 5 FM apartments with a ground floor commercial space. The building is 28' wide and features over 100' of frontage along Utica/Park Place. The asset generates upwards of $291,000 gross annually and features renovated box-style apartments averaging approx. 900 Net SF each. The subject also benefits from a favorable tax class 2A which limits future tax increases. This is an excellent opportunity for an investor looking for a free- market core asset with a value-add component. New owner will have an opportunity to sign a new retail lease on the ground floor. A business owner/operator can occupy the commercial space, while benefiting from a steady source of revenue from the residential units. The property is situated on a busy retail corridor with excellent by car or public transit. The property has excellent access to subways and buses. The Utica Avenue subway station is 4 blocks away.

Listing courtesy of Revived Residential