Mixed-Use Building with Commercial
For Sale
$1,998,000
1962 Coney Island Avenue, Brooklyn, NY 11223
Commercial Sale, Brooklyn, NY
Property Size3,300 SF
Lot Size0.05 Acres
Price / SF$605.45
Days on Market10
Property Features for 1962 Coney Island Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C8-2
Rooms
Basement
Basement
Full
Elementary school
Ps 238 Anne Sullivan
Middle school
Edward R Murrow High School
High school
Edward R Murrow High School
Elementary school district
Brooklyn 21
Middle school district
Brooklyn 21
High school district
Brooklyn 21
Directions
Google Maps
Standard status
Active
APN
06642-0016
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
12769
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Baseboard, Hot Water(Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1931
Floors in Building
3
Number of units
3
Building materials
Brick
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Li Li
(646) 889-9988
Added: Sep 30
Changed: Oct 5
Last Checked: Oct 9 at 3:06AM
MLS# 1057191
Copyright © 2026 OneKey MLS. 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 three-story mixed-use building contains approximately 3,300 SF, with commercial space at street level and two residential units on the upper floors. Built in 1931 and renovated in 2018, it has brick construction, central air, separate building systems, multiple electric meters, and separate gas meters. The property occupies a 0.0459-acre lot, and tenants pay their own utility costs.
The building is at 1962 Coney Island Avenue in Brooklyn, along a commercial corridor. The Kings Highway B/Q subway station is identified as a nearby transit connection. The property is zoned C8-2.
The building is at 1962 Coney Island Avenue in Brooklyn, along a commercial corridor. The Kings Highway B/Q subway station is identified as a nearby transit connection. The property is zoned C8-2.
Key Highlights
- Three‑story building with ground‑floor commercial space and two apartments above
- Approximately 3,300 SF on a 0.0459‑acre lot
- Renovated in 2018; originally built in 1931
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$158,250
Cap Rate
7.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,165,000
$3.2M
Cap Rate 7%
$2,260,714
$2.3M
Cap Rate 9%
$1,758,333
$1.8M
Market Conditions
NOI Build-Up for 3,300 SF
Gross rent
$256.6K $77.76/SF
− Vacancy
−$30.5K −$9.25/SF
EGI
$226.1K $68.51/SF
− OpEx
−$67.8K −$20.55/SF
NOI
$158.3K $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 Rate 5%
$3,165,000
Cap Rate 7%
$2,260,714
Cap Rate 9%
$1,758,333
Alternative Uses
Best Use
Retail
$2.26M
$1.98M – $2.64M
NOI $158,250 @ 7.0% cap · market cap 7.92%
Second Best
Mixed Use
$1.71M
$1.50M – $2.00M
NOI $119,790 @ 7.0% cap · market cap 6.00%
Theoretical Best
Specialty Retail
$2.73M
$2.39M – $3.19M
NOI $191,268 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,318
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A ground-floor commercial unit is paired with two apartments above.
Where is this mixed-use property located?
The property is located at 1962 Coney Island Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,998,000.
What are key features of this property?
This property features: Three‑story building with ground‑floor commercial space and two apartments above; Approximately 3,300 SF on a 0.0459‑acre lot; Renovated in 2018; originally built in 1931
