950 Utica Ave Brooklyn, NY 11203

This exceptional 1,200 square foot auto shop at 950 Utica Avenue in Brooklyn, New York, presents a compelling investment opportunity. Currently operating at 100% occupancy with a strong $708.33 per square foot price, this single-unit, Class C retail property boasts a 7.20% cap rate and is listed at $850,000. The building, renovated three years ago, sits on a 2,000 square foot lot and features one story with 1,300 square feet of air rights. The property's zoning allows for a four-story building, offering significant development potential. Imagine a mixed-use structure with commercial space on the ground floor and residential units above—floor-through apartments or two units per floor are feasible. The location is ideal, benefiting from high foot traffic and strong demand for new apartments. Convenient public transportation is readily available via the B46 bus, providing easy access to the 3, 4, and 5 subway lines. The property can be delivered vacant, providing flexibility for a variety of uses, including but not limited to restaurants, grocery stores, laundromats, gyms, or medical offices. This is a rare chance to acquire a prime commercial property with substantial upside in a thriving Brooklyn neighborhood. The lease type is NN+.