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1502 Mermaid Ave Brooklyn, NY 11224

Sponsored
For Sale
$2,199,000

High-Demand Retail, R7A Zoning, Huge Potential

Property size:
3,360 SF

Description

Added:
Feb 3, 2025
Days on Market:
338
This exceptional Coney Island commercial property at 1502 Mermaid Avenue offers 3,360 square feet on a 0.08-acre corner lot. Currently housing four retail stores – two occupied by Sneaker Town, one by Best Choice Cleaners, and one vacant – this property presents a compelling investment opportunity. The favorable R7A zoning with a C2-4 commercial overlay allows for a significant 13,440 buildable square feet of residential space (FAR 4), subject to architectural verification. The existing retail spaces can be delivered vacant upon closing, providing immediate flexibility for the new owner. The prime location ensures high demand for commercial rentals, with potential monthly rental income estimated between $12,500 and $15,000. This makes it ideal for investors seeking strong rental returns or developers aiming to capitalize on the area's booming real estate market. The property's suitability as a 1031 exchange property further enhances its appeal. This is a rare chance to acquire a highly desirable corner lot in a rapidly developing neighborhood. Please note that the current commercial tenants should not be disturbed. This is a truly exceptional opportunity.

Property Features for 1502 Mermaid Ave

General Information

Property type
Other commercial real estate
Square Feet
3,360 SF
Lot Size
3,485 SF

Property Profile Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

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

Location Insight

  • Map
  • Local Demand
City
Brooklyn
County
Kings (Brooklyn)
State
New York
Longitude
-73.98277
Latitude
40.57673

FAQs

What type of property is this?
Commercial real estate - High-Demand Retail, R7A Zoning, Huge Potential
Where is this commercial real estate located?
The property is located at 1502 Mermaid Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,199,000.
More about this property
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