1249 Utica AveBrooklyn, NY 11203

This exceptional Brooklyn investment opportunity presents a 16,958 square foot, fully occupied retail property situated at the corner of Utica Avenue and Avenue D. The property comprises two buildings on four tax lots, featuring seven ground-floor retail units, one second-floor office space, and three free-market apartments. The anchor tenant is a Dollar Tree, occupying 9,486 square feet with a corporate-guaranteed ten-year lease expiring June 2027, including three five-year renewal options with 10% rent increases each period. The remaining units contribute to a strong, diversified income stream. The property boasts 225 feet of combined retail frontage, benefiting from high visibility and foot traffic, further enhanced by the B46 bus line's proximity (NYC's 6th busiest route). Built in 2015, with renovations completed in 2016, the property includes a basement in the corner building. Three of the four tax lots benefit from a 25-year ICAP tax abatement expiring June 30, 2042, significantly reducing property taxes. The current NOI is $482,355, with a pro-forma NOI of $498,959, resulting in a 6.65% cap rate and a pro-forma cap rate of 6.88%. The asking price is $7,250,000, representing a price per square foot of $427.53. This stabilized investment offers a compelling combination of strong cash flow, long-term lease security, and significant upside potential in a prime Brooklyn location. The property is zoned C8-1.