Restaurant with Covered
New
For Sale
$800,000
1005 Surf Avenue, Brooklyn, NY 11224
Commercial, Brooklyn, NY
Property Size2,000 SF
Lot Size0.06 Acres
Price / SF$400
Days on Market7
Property Features for 1005 Surf Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6
Subdivision
Seagate
Standard status
Active
Size
2,000 SF
Lot size
0.06 Acres
Amenities
Storage
Office Space
Security Infrastructure
Central A/C
Building Details
Number of units
1
Listing Agency:
New World Realty Group LLC
Listed By:
Inna Zabolotnaya
(718) 872-6300
Added: Sep 21
Changed: Sep 23
Last Checked: Sep 27 at 12:06PM
MLS# 504799
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 operating restaurant business occupies approximately 2,000 square feet and is configured for approximately 100 guests. The premises include a fully equipped kitchen, bar, dining areas, a covered terrace with additional seating, storage, office space, and security infrastructure. Central A/C and a licensed liquor bar are also in place. The operation serves Italian, European, Mexican, and Mediterranean cuisine.
The property is located at 1005 Surf Avenue in Coney Island, near the New York Aquarium, Luna Park, Coney Island Beach, and the boardwalk area. The D, F, N, and Q trains are nearby, providing transit access to the restaurant location.
The property is located at 1005 Surf Avenue in Coney Island, near the New York Aquarium, Luna Park, Coney Island Beach, and the boardwalk area. The D, F, N, and Q trains are nearby, providing transit access to the restaurant location.
Key Highlights
- Operating restaurant business with approximately 2,000 square feet
- Seating for approximately 100 guests
- Fully equipped kitchen with bar and licensed liquor service
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
$35,580
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
4.45%
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%
$711,600
$711.6K
Cap Rate 7%
$508,286
$508.3K
Cap Rate 9%
$395,333
$395.3K
Market Conditions
NOI Build-Up for 2,000 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
$53.3K $26.64/SF
− Vacancy
−$2.5K −$1.23/SF
EGI
$50.8K $25.41/SF
− OpEx
−$15.2K −$7.62/SF
NOI
$35.6K $17.79/SF
Area
Brooklyn, NY
Vacancy
4.60%
Lease Rate
$26.64 /SF/Yr
Expense Ratio
30.00%
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%
$711,600
Cap Rate 7%
$508,286
Cap Rate 9%
$395,333
Alternative Uses
Best Use
Specialty Retail
$1.66M
$1.45M – $1.93M
NOI $115,920 @ 7.0% cap · market cap 14.49%
Second Best
Industrial
$508.3K
$444.8K – $593.0K
NOI $35,580 @ 7.0% cap · market cap 4.45%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,899
Businesses Nearby
107k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 74%
Shops & Services 22%
Groceries 3%
McDonald's
Dining
37,003 visits/mo
0.4 miles
Dunkin' Donuts
Dining
17,021 visits/mo
0.1 miles
McDonald's
Dining
15,292 visits/mo
0.2 miles
Shell
Shops & Services
11,228 visits/mo
0.5 miles
AutoZone
Shops & Services
8,616 visits/mo
0.5 miles
Demographics for 11224, NY
46,019
Population
21,354
Households
2.2
Avg Household Size
46
Median Age
33%
College-Educated
82%
High-School Grad
1.6 sq mi
ZIP Area
28,762
Density / Sq Mi
$41,449
Median Household Income
$41,233
Median Earnings
$905
Median Rent
$512,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Restaurant - Operating restaurant with a fully equipped kitchen, licensed liquor bar, dining areas, and central A/C.
Where is this restaurant located?
The property is located at 1005 Surf Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Operating restaurant business with approximately 2,000 square feet; Seating for approximately 100 guests; Fully equipped kitchen with bar and licensed liquor service
