250 Utica Avenue

250 Utica Avenue, Brooklyn, NY, 11213, US

Description

250 Utica Avenue presents the opportunity to acquire the leasehold interest in a corner value-add retail property on a ground lease in the heart of Crown Heights neighborhood of Brooklyn. This multi-tenant corner retail asset features strong national credit tenants including Chipotle, Pure Gym, and CityMD, with upside by leasing the remaining 10,565 square feet of space. The Property totals 61,240 square feet, comprising 45,067 square feet of retail space and a 16,173 square foot, 81-space parking garage. With 10,565 square feet delivered vacant and a 25-year ICAP tax abatement in place, the asset offers immediate leasing upside and enhanced cash flow for the incoming buyer.

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Attributes

Property Size

61,240 SF

Occupancy

83%

Retail SF

45,067 SF

Garage SF

16,173 SF

Vacant Retail SF

10,565 SF

Parking Spaces

WALT

7 Years

Media

Investment Highlights

VALUE-ADD RETAIL PROPERTY ON GROUND LEASE

250 Utica Avenue presents an exceptional value-add retail investment opportunity in Crown Heights on a 99-year ground lease with 85 years remaining. This 83% leased Property is anchored by national tenants Chipotle, Pure Gym, and CityMD, oﬀering immediate cash ﬂow with upside through the lease-up of 10,565 square feet of vacant space.

PRIME CORNER LOCATION WITH COMMANDING PRESENCE

The Property occupies a strategic corner position with 100 feet of frontage on Utica Avenue, Crown Heights’ primary commercial corridor.

RETAIL SCALE WITH IMMEDIATE LEASING OPPORTUNITY

Totaling 45,067 rentable square feet across 6 retail units, 250 Utica Avenue oﬀers signiﬁcant scale rarely available in prime Brooklyn retail locations. With 10,565 square feet delivered vacant, a new owner can immediately capitalize on strong leasing demand while beneﬁting from existing cash ﬂow from credit-worthy tenants.

STRONG NATIONAL TENANT ANCHORS DRIVING CONSISTENT TRAFFIC

The Property is anchored by three established national brands—Chipotle, Pure Gym, and CityMD—providing stable cash ﬂow and consistent foot traﬃc.

RARE ~16,000 SF 81-SPACE PARKING FACILITY ADDS SIGNIFICANT VALUE

250 Utica Avenue features a 16,173 square foot parking facility with 81 spaces, a rare amenity in Brooklyn’s competitive retail market. This substantial parking capacity provides a signiﬁcant competitive advantage in attracting quality tenants while generating additional revenue through structured operations.

PROXIMITY TO GROWING PROSPECT HEIGHTS AND AAMUP REZONING

The Property beneﬁts from proximity to the rapidly transforming Prospect Heights neighborhood, which is experiencing signiﬁcant growth due to the Atlantic Avenue Mixed-Use Plan (AAMUP) rezoning.

EXCEPTIONAL TRANSPORTATION ACCESS AND CONNECTIVITY

The Property beneﬁts from outstanding connectivity with the Crown Heights-Utica Avenue station (3 / 4 trains) oﬀering express service to Manhattan, plus extensive bus service along Utica Avenue.