Two-Story Storefront With
New
For Sale
$5,799,000
1261 Coney Island Avenue, Brooklyn, NY 11230
Commercial, Brooklyn, NY
Property Size6,600 SF
Lot Size0.14 Acres
Price / SF$973.31
Days on Market2
Property Features for 1261 Coney Island Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R5
Basement
Full
Subdivision
Midwood
Standard status
Active
Size
5,958 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
54960
Building Details
Year built
1923
Floors in Building
2
Flooring type
Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Allure NY Properties
(917) 730-6336
Listed By:
Orian Hakmon
(718) 200-8511
Added: Sep 1
Last Checked: Sep 2 at 3:06PM
MLS# 504208
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 two-story storefront property at 1261 Coney Island Avenue includes an existing commercial building of approximately 6,600 square feet. The configuration includes approximately 5,958 square feet of retail or commercial space, approximately 500 square feet of office space, and ground-floor warehouse or commercial area. A full drive-in gate provides vehicle access to the ground-floor space.
The property occupies a 59.58-foot by 100-foot lot totaling approximately 5,958 square feet. Its commercial frontage is along Coney Island Avenue in Brooklyn, with brick construction, tile flooring, and a flat roof. Built in 1923, the building offers a combination of storefront, office, warehouse, and drive-in functionality.
The property occupies a 59.58-foot by 100-foot lot totaling approximately 5,958 square feet. Its commercial frontage is along Coney Island Avenue in Brooklyn, with brick construction, tile flooring, and a flat roof. Built in 1923, the building offers a combination of storefront, office, warehouse, and drive-in functionality.
Key Highlights
- 59.58' x 100' lot totaling approximately 5,958 SF
- Existing building contains approximately 6,600 SF
- Approximately 5,958 SF of retail or commercial space
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
$285,713
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
4.93%
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%
$5,714,260
$5.7M
Cap Rate 7%
$4,081,614
$4.1M
Cap Rate 9%
$3,174,589
$3.2M
Market Conditions
NOI Build-Up for 5,958 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
$463.3K $77.76/SF
− Vacancy
−$55.1K −$9.25/SF
EGI
$408.2K $68.51/SF
− OpEx
−$122.4K −$20.55/SF
NOI
$285.7K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /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%
$5,714,260
Cap Rate 7%
$4,081,614
Cap Rate 9%
$3,174,589
Alternative Uses
Best Use
Retail
$4.08M
$3.57M – $4.76M
NOI $285,713 @ 7.0% cap · market cap 4.93%
Second Best
Warehouse
$1.84M
$1.61M – $2.15M
NOI $128,707 @ 7.0% cap · market cap 2.22%
Theoretical Best
Specialty Retail
$4.93M
$4.32M – $5.76M
NOI $345,326 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,812
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- brooklyn florist — 209 Avenue M, Brooklyn, NY 11223
- Flower Boutique — 322 Avenue M, Brooklyn, NY 11230
- N and Coney Fresh Cut Flowers — 1731 Coney Island Ave, Brooklyn, NY 11230
- Otugi Inc — 1106 Avenue N, Brooklyn, NY 11230
- Flowers By Shirley — 619 Avenue M, Brooklyn, NY 11230
Frequently Asked Questions
What type of property is this?
Storefront property - Two-story commercial building with ground-floor space, office area, and full drive-in gate.
Where is this storefront property located?
The property is located at 1261 Coney Island Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,799,000.
What are key features of this property?
This property features: 59.58' x 100' lot totaling approximately 5,958 SF; Existing building contains approximately 6,600 SF; Approximately 5,958 SF of retail or commercial space
