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    The Largest CRE Database in the US with Over 1 Million Listings

    1848 Coney Island Ave Brooklyn, NY 11230

    Sponsored
    For Sale
    $2,500,000

    Mixed Use - Brooklyn, NY

    Type:Mixed Use
    Property size:
    3,300 SF
    Lot size:
    0.04 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 19 at 10:06 pm

    Property Features for 1848 Coney Island Ave

    General Information

    Property type
    Other
    Property subtype
    Mixed Use
    Standard status
    Active
    Zoning
    C8-2
    Size
    3,300 SF
    Lot size
    0.04 Acres

    Utilities

    Heating system
    Hot Water (Heating), Natural Gas

    Building Details

    Year built
    1931
    Floors in Building
    3
    Flooring type
    Hardwood, Tile
    Building materials
    Brick
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Emily Hui Chen-Liang
    Emily Hui Chen-Liang

    Tiger Realty (917) 708-9966

    Listing agent Emily Hui Chen-Liang (917) 708-9966

    Listing date Feb 19, 2026

    MLS# 499086 Listing URL

    Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Brooklyn Mixed-Use Income Property

    Located in Brooklyn, this three-story mixed-use building at 1848 Coney Island Avenue features two residential units and a ground-floor laundromat. The property is situated on a 20' x 80' lot with a 20' x 55' footprint, and includes a full basement for storage. Each residential apartment has 3 bedrooms, 1 bathroom, and a living room. The first-floor laundromat generates $3,500 per month with three years remaining on the lease, with the tenant responsible for all utilities, including water. The second-floor apartment rents for $1,600 per month, and the third-floor apartment rents for $1,800 per month; both are month-to-month leases with heat and hot water included. The building has two separate water meters. The property is located in a vibrant area near shops, cafes, Staples, and public transportation. The building's total size is 3300 square feet. The lot size is approximately 0.036 acres. The zoning is C8-2. The property is suitable for an owner-occupant or investor. The residential units may be delivered vacant.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    STI LAUNDROMAT INC. (Bike/Boat/Book/etc) Store Hot Wheels Discount (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.962828
    Latitude
    40.610567

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    FAQs

    What type of property is this?
    Mixed-use property - Three-story building with residential units and commercial space.
    Where is this mixed-use property located?
    The property is located at 1848 Coney Island Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: - Steady rental income from a ground-floor laundromat ($3,500/month with 3 years remaining on the lease, tenant pays all utilities including water) and two residential units.; - Three-story mixed-use building in a vibrant Brooklyn location close to shops, cafes, Staples, and public transportation.; - Two residential units, each featuring 3 bedrooms and 1 bathroom.
    (917) 708-9966
    Request Owner's contact information
    1848 Coney Island Ave Brooklyn, NY 11230
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    Brooklyn, NY 11230
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1848 Coney Island Ave Brooklyn, NY 11230
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    We can help!
    Listing Contact
    Emily Hui Chen-Liang
    Emily Hui Chen-Liang
    (917) 708-9966 (718) 256-4000
    Learn more
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