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Utica, NE Commercial Investment Properties for Sale

Explore commercial real estate investment properties for sale in Utica, Nebraska Market population: 61K. Explore income-producing properties with verified cap rates and operating...

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📊 Avg Property Tax Rate For Utica NY Properties: 2.0200%

⭐ Featured

190 Manhattan Ave, Buffalo, NY – Prime Multifamily Investment with 7.56% Cap Rate

$6,500,000
Buffalo Multifamily

Discover a compelling investment in Buffalo’s vibrant market with this 65,000-square-foot garden-style apartment prope...

Cap Rate 7.56%
NOI $491,400
Size 65,000 SF

📊 Average Income For Utica NY Commercial Property: $34,979

⭐ Featured

Prime Buffalo Multifamily Investment: 12-Unit Apartment Building with 6.16% Cap Rate

$1,750,000
Buffalo Multifamily

Discover a compelling multifamily investment opportunity in Buffalo, NY. This 12-unit apartment building, priced at $1,7...

Cap Rate 6.16%
NOI $107,842
Size 8,640 SF

Investor Questions For Utica NY

Common questions from investors exploring commercial real estate in Utica NY.

What is the overall investment potential of Utica, NY, considering its demographic and economic factors? +
Utica's diverse population, with top ethnicities including White (69.9%), Black or African American (15.9%), and Asian (7.4%), combined with its median household income of $34,979 and a poverty rate of 30.4%, suggests a market with potential for growth, especially in the Health Care & Social Assistance, Retail Trade, and Manufacturing industries. The city's 18.4-minute average commute time and high health insurance coverage rate of 95.5% also indicate a relatively stable quality of life. Additionally, the foreign-born rate of 15.6% and a GINI coefficient of 0.483 provide insights into the city's economic inequality and diversity.
How does the poverty rate and health insurance coverage impact the quality of tenants in Utica, NY? +
The 30.4% poverty rate in Utica, NY, combined with a high health insurance coverage rate of 95.5%, suggests a working-class market with some employment stability, which can be beneficial for landlords. The relatively low median household income of $34,979 and a significant portion of the population relying on Health Care & Social Assistance, Retail Trade, and Manufacturing industries may impact rent affordability, but the overall stability provided by health insurance coverage is a positive factor for investor considerations.
What role do top industries play in shaping the real estate market in Utica, NY? +
The top industries in Utica, NY, including Health Care & Social Assistance, Retail Trade, and Manufacturing, play a significant role in shaping the real estate market by influencing demand for housing. With a median property value of $94,400 and median property taxes of $2,611, the city offers relatively affordable housing options. The diversity in industries also contributes to a stable employment market, which is crucial for maintaining a healthy rental market, especially considering the city's 45.1% homeownership rate and the commute methods which include public transportation.
How does the commute time and health insurance rate reflect on the quality of life and stability of the rental market in Utica, NY? +
The average commute time of 18.4 minutes in Utica, NY, is relatively low, indicating good infrastructure for commuters, which can positively impact the quality of life for residents. Combined with a high health insurance rate of 95.5%, this suggests a stable and healthy population, which is beneficial for the rental market. The use of public transportation as one of the top commute methods also highlights the city's infrastructure and accessibility, making it an attractive location for renters and thus supporting the stability of the rental market.
What insights can be gained from the ethnic diversity and foreign-born rate in Utica, NY, for real estate investment purposes? +
The ethnic diversity in Utica, NY, with top ethnicities including White (69.9%), Black or African American (15.9%), and Asian (7.4%), along with a foreign-born rate of 15.6%, indicates a culturally rich and diverse community. This diversity can contribute to a vibrant local economy and demand for housing, especially in neighborhoods with strong community ties. For investors, understanding these demographic factors can help in identifying areas with potential for appreciation in property value and rental income, particularly when considering the impact of the top industries and the overall economic landscape of the city.

Utica NY Real Estate & City Facts

Key facts and real estate information about Utica NY.

What are some of the best neighborhoods to live in Utica? +
Some of the best neighborhoods to live in Utica, NY, include Utica College neighborhood, South Utica, Cornhill, North Utica, West Utica, and East Utica. These areas offer a mix of affordability, walkability, and community vibe.
What are some fun things to do in Utica? +
There are plenty of fun things to do in Utica, NY, including visiting the Utica Zoo, Munson-Williams-Proctor Arts Institute, Union Station, Pixley Falls, Roscoe Conkling Park, and the Adirondack Scenic Railroad. You can also explore the local attractions around the Utica area and complete your scenic train ride experience with a bit of art, museums, zoos, and more!
What is the food scene like in Utica? +
The food scene in Utica, NY, is diverse and delicious, with plenty of highly-rated restaurants to choose from, such as Zeina's Cafe & Catering, The Tailor and The Cook, Delmonico's, Space NexDoor GastroLounge, Milano Restaurant, Happy Feet Caribbean Cuisine, Pizzeria Italia, Yummilicious Cafe & Bakery, Georgio's, and Nostro. There are also plenty of great food trucks and cafes to grab a quick bite.
What are the pros and cons of living in Utica? +
The pros of living in Utica, NY, include its affordable housing, rich cultural scene, and beautiful parks and outdoor spaces. However, some cons include a higher poverty rate and unemployment rate compared to other cities in the state. Overall, Utica is a great place to live for those who value community and affordability.
Is Utica a good place to live? +
Utica, NY, is a great place to live for those who value community, affordability, and a rich cultural scene. While it has its challenges, the city has a lot to offer, from its beautiful parks and outdoor spaces to its diverse food scene and fun attractions. With its mix of small-town charm and urban amenities, Utica is a great choice for families, young professionals, and retirees alike.
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