Corner Retail
For Sale
$7,000,000
1153 Coney Island Ave, Brooklyn, NY 11230
Single-story commercial space includes a full lower level, elevator, and access from two streets.
Property Size6,630 SF
Lot Size0.32 Acres
Price / SF$1,055
Days on Market27
Property Features for 1153 Coney Island Ave
General Information
Standard status
Active
Size
6,630 SF
Lot size
0.32 Acres
Property subtype
Urban-High Street
Zoning
C8-2
Site & Location
Corner Location
Yes
Road Access
Yes
Additional Details
Land Use
commercial
Amenities
Rare Corner Commercial Redevelopment Opportunity in Brooklyn's Midwood Neighborhood. 6,630 SF Existing Retail Building Resting on a 14,000 SF Lot .
Prominent Corner Location at Coney Island Avenue and Avenue H. C8-2 Zoning Permitting Approximately 28,000 SF As-of-Right Development.
Located Along Heavily Trafficked Commercial Corridor. Long-Term Redevelopment Upside Supported by Surrounding Residential Zoning Patterns
Building Details
Building Size
6,630 SF
Year Built
1931
Buildings
1
Stories
1
Listing Agency:
New York City Office
(212) 430-5229
Listed By:
Scott Plasky · License #License(s): NY: 40PL1176852
(212) 430-5229
Source:
Marcusmillichap
Added: Jul 30
Changed: Aug 22
Last Checked: Aug 25 at 5:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of New York City Office
Investment Insights
Based on property information with market context.
The property includes a 6,630-square-foot single-story retail building on a 10,000-square-foot corner parcel measuring 100 feet by 100 feet, plus an adjacent 4,000-square-foot parking lot. The building also features a full 6,630-square-foot lower level and an elevator. Combined, the parcels encompass approximately 14,000 square feet of land and are zoned C8-2. The zoning permits up to 28,000 square feet of as-of-right development at 2.0 FAR, with potential for up to 67,200 square feet through the community facility bonus.
Located at the intersection of Coney Island Avenue and Avenue H in Brooklyn’s Midwood neighborhood, the property has curb cuts along both streets and sits on a heavily trafficked commercial corridor. The Avenue H subway station is a few blocks away, providing access to the Q train. The surrounding area includes established retailers, service businesses, and residential communities.
Located at the intersection of Coney Island Avenue and Avenue H in Brooklyn’s Midwood neighborhood, the property has curb cuts along both streets and sits on a heavily trafficked commercial corridor. The Avenue H subway station is a few blocks away, providing access to the Q train. The surrounding area includes established retailers, service businesses, and residential communities.
Key Highlights
- 6,630‑square‑foot single‑story retail building with a full 6,630‑square‑foot lower level
- 10,000‑square‑foot corner parcel measuring 100’ x 100’
- Adjacent 4,000‑square‑foot parking lot; combined land area of approximately 14,000 square feet
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
$317,939
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
4.54%
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%
$6,358,780
$6.4M
Cap Rate 7%
$4,541,986
$4.5M
Cap Rate 9%
$3,532,656
$3.5M
Market Conditions
NOI Build-Up for 6,630 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
$515.5K $77.76/SF
− Vacancy
−$61.4K −$9.25/SF
EGI
$454.2K $68.51/SF
− OpEx
−$136.3K −$20.55/SF
NOI
$317.9K $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%
$6,358,780
Cap Rate 7%
$4,541,986
Cap Rate 9%
$3,532,656
Alternative Uses
Best Use
Retail
$4.54M
$3.97M – $5.30M
NOI $317,939 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.49M
$4.80M – $6.40M
NOI $384,275 @ 7.0% cap · market cap 5.49%
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
4,213
Businesses Nearby
105k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 87%
Dining 9%
Electronics 3%
Home Improvements & Furnishings 1%
TD Bank
Shops & Services
22,439 visits/mo
0.3 miles
Chase Bank
Shops & Services
18,496 visits/mo
0.5 miles
7-Eleven
Shops & Services
11,776 visits/mo
0.4 miles
Sunoco
Shops & Services
11,658 visits/mo
0.1 miles
Apple Bank
Shops & Services
9,250 visits/mo
0.3 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Single-story commercial space includes a full lower level, elevator, and access from two streets.
Where is this storefront property located?
The property is located at 1153 Coney Island Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: 6,630‑square‑foot single‑story retail building with a full 6,630‑square‑foot lower level; 10,000‑square‑foot corner parcel measuring 100’ x 100’; Adjacent 4,000‑square‑foot parking lot; combined land area of approximately 14,000 square feet
