2776 Coney Island Ave
4,892 SF 100% Leased Retail Building Brooklyn, NY 11235 $2,900,000 ($593/SF) 5.28% Cap Rate
Executive Summary
Corner mix use building for Sale in prime Sheepshead Bay/Gravesend area. The opportunity consists of 4 residential units ( free market 2 x two bedrooms and 2 x one bedrooms) above 2 commercial ( retail and office) with full finished basement. The 4500 SF building sits on a 2500 SF irregular lot with C2-2/R5/OP zoning. The property is conveniently accessible via public transit with the Sheepshead Bay Rd train station B and Q Trains in short proximity. Sheepshead Bay has cemented itself in the New York City real estate market for its sound investment fundamentals, great accessibility & diverse cultural offerings. The property is 100% occupied with month-to-month leases (except retail). Current Net Operating Income is $153000 ( Projected $177000). This property has great upside potential!!!
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,892 SF
Year Built
1931
Price
$2,900,000
Price Per SF
$593
Cap Rate
5.28%
NOI
$153,138
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.45
Lot Size
0.05 AC
Zoning
R5 - C2-2/R5/OP
Frontage
21 FT on Coney Island Ave
Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (86)
Bike Score®
Very Bikeable (71)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 07224-0030 | Improvements Assessment | $107,100 |
Land Assessment | $137,700 | Total Assessment | $244,800 |