Renovated Office
For Sale
$1,359,000
2357 Coney Island Avenue, Brooklyn, NY 11223
Commercial, Brooklyn, NY
Property Size3,000 SF
Lot Size0.05 Acres
Price / SF$453
Days on Market141
Property Features for 2357 Coney Island Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
R6A,C2-3
Basement
Full
Subdivision
Gravesend
Standard status
Active
Size
3,000 SF
Lot size
0.05 Acres
Building Details
Number of units
1
Building materials
Brick
Roof type
Flat
Listing Agency:
Dom Realty Inc
Listed By:
Boris Rudoy
(718) 407-6366
Added: May 5
Changed: Sep 5
Last Checked: Sep 22 at 5:06AM
MLS# 501167
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.
Investment Insights
Based on property information with market context.
This renovated office property contains 3,000 square feet across two floors. The first floor provides 1,500 square feet configured for store or office use, with a 2-year lease remaining. Two second-floor office units, identified as Office #2 and Office #3, are available. The building features brick construction and a flat roof.
Located at 2357 Coney Island Avenue in Brooklyn, the property is zoned R6A,C2-3 and occupies a 0.0459-acre lot. Its combination of existing occupancy, available office units, and renovated condition creates a straightforward commercial configuration for office and storefront use.
Located at 2357 Coney Island Avenue in Brooklyn, the property is zoned R6A,C2-3 and occupies a 0.0459-acre lot. Its combination of existing occupancy, available office units, and renovated condition creates a straightforward commercial configuration for office and storefront use.
Key Highlights
- 3,000 square feet across two floors
- 1,500‑square‑foot first‑floor store or office space
- 2‑year lease remaining on the first floor
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$74,844
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,496,880
$1.5M
Cap Rate 7%
$1,069,200
$1.1M
Cap Rate 9%
$831,600
$831.6K
Market Conditions
NOI Build-Up for 3,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$129.6K $43.20/SF
− Vacancy
−$29.8K −$9.94/SF
EGI
$99.8K $33.26/SF
− OpEx
−$24.9K −$8.32/SF
NOI
$74.8K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,496,880
Cap Rate 7%
$1,069,200
Cap Rate 9%
$831,600
Alternative Uses
Best Use
Retail
$2.06M
$1.80M – $2.40M
NOI $143,864 @ 7.0% cap · market cap 10.59%
Second Best
Office B
$1.07M
$935.6K – $1.25M
NOI $74,844 @ 7.0% cap · market cap 5.51%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,165
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - Two-level commercial property with brick construction and office or store use on the first floor.
Where is this office units located?
The property is located at 2357 Coney Island Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,359,000.
What are key features of this property?
This property features: 3,000 square feet across two floors; 1,500‑square‑foot first‑floor store or office space; 2‑year lease remaining on the first floor
