233 Utica Ave 4,290 SF 100% Leased Retail Building Brooklyn, NY 11213 $1,898,000 ($442.42/SF) 8.76% Cap Rate

OPEN HOUSE Sunday December 07th 11:00am to 1:00pm
For Sale – Prime Mixed-Use Building | 233 Utica Ave, Brooklyn, NY 11213
Asking Price: $1,898,000
Property Annual Tax: $8,278
Welcome to 233 Utica Avenue, a rare mixed-use gem located in the heart of Crown Heights / Weeksville, one of Brooklyn’s most dynamic and rapidly evolving neighborhoods. This property combines immediate rental income, a turnkey restaurant opportunity, and long-term growth potential with favorable R6 / C1-3 zoning.
Property Highlights
Ground Floor: High-visibility commercial storefront with storage & utility room – excellent for retail, office, or service use.
First Floor: Fully built-out, ready-to-run restaurant space with existing infrastructure in place. Skip the cost and delays of a buildout—open for business on day one.
Second Floor: Spacious 5 room, 3 bedroom one bathroom residential apartment currently rented.
Third Floor: Two residential apartments (front & back), Each one is Studio fully rented.
Independent Utilities: Each residential unit and the commercial space feature separate heating, hot water, gas meters, and electric meters, minimizing landlord expenses and maximizing tenant accountability.
Neighborhood Dynamics
Utica Avenue is a major commercial corridor connecting Crown Heights, Weeksville, and Bedford-Stuyvesant. The property enjoys heavy foot traffic, strong visibility, and growing consumer demand fueled by new residential developments and a thriving mix of businesses. Popular cafes, restaurants, and shops continue to revitalize the area, making this a sought-after location for both investors and entrepreneurs.
Investment Opportunity
Diverse Income Streams: Restaurant, retail, and three residential units provide both stability and upside.
Strong Rental Market: Residential demand in Crown Heights continues to surge, ensuring consistent occupancy.
Restaurant Potential: Fully equipped space in a neighborhood with booming dining culture—ideal for an owner-operator, franchise, or investor leasing to a proven restaurateur.
Future Growth: R6/C1-3 zoning allows for long-term redevelopment or expansion potential.
Low Operating Costs: With separately metered utilities, tenants cover their own expenses, simplifying management and boosting net income.
This property is more than just real estate—it’s a cash-flowing investment with huge upside in one of Brooklyn’s fastest-growing neighborhoods.