2357 Coney Island Avenue, Brooklyn, NY 11223

Building Details

Number of units 1 More

Building materials Brick More

Roof type Flat More

Listing Agency: Dom Realty Inc

Listed By: Boris Rudoy Show Phone

Added: May 5 Changed: Oct 10 Last Checked: Nov 9 at 4:06AM

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MLS# 501167

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Investment Insights

Based on property information with market context.

This renovated office property contains 3,000 square feet across two floors. The first floor provides 1,500 square feet configured for store or office use, with a 2-year lease remaining. Two second-floor office units, identified as Office #2 and Office #3, are available. The building features brick construction and a flat roof.

Located at 2357 Coney Island Avenue in Brooklyn, the property is zoned R6A,C2-3 and occupies a 0.0459-acre lot. Its combination of existing occupancy, available office units, and renovated condition creates a straightforward commercial configuration for office and storefront use.

Key Highlights

• 3,000 square feet across two floors
• 1,500‑square‑foot first‑floor store or office space
• 2‑year lease remaining on the first floor

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$74,844

Cap Rate

5.51%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,496,880 $1.5M

Cap Rate 7%

$1,069,200 $1.1M

Cap Rate 9%

$831,600 $831.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,000 SF

Gross rent

$129.6K $43.20/SF

− Vacancy

−$29.8K −$9.94/SF

EGI

$99.8K $33.26/SF

− OpEx

−$24.9K −$8.32/SF

NOI

$74.8K $24.95/SF

Area

Brooklyn, NY

Vacancy

23.00%

Lease Rate

$43.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,496,880

Cap Rate 7%

$1,069,200

Cap Rate 9%

$831,600

Alternative Uses

Best Use

Retail

$2.06M

$1.80M – $2.40M (±1% cap)

NOI $143,864 @ 7.0% cap · market cap 10.59%

Second Best

Office B

$1.07M

$935.6K – $1.25M (±1% cap)

NOI $74,844 @ 7.0% cap · market cap 5.51%

Theoretical Best

Specialty Retail

$2.48M

$2.17M – $2.90M (±1% cap)

NOI $173,880 @ 7.0% cap · market cap 12.79%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Roadcraft Driving Academy Training Center Huvoo (Bike/Boat/Book/etc) Store United National Realty Real Estate Agency Saiat Stepanian, MS Physician FEELREAL, Inc. Corporate Office

Suggested Use

Top Pick Parking Lot & Garage Real Estate Agency Hotel & Motel Nursing Home Grocery & Convenience Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

4,165

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

Market

Average Price Trend$/SF for Office Units in Brooklyn, NY

$634 Jul

$595 Aug

$633 Sep

$636 Oct

Properties on Market for Office Units in Brooklyn

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Two-level commercial property with brick construction and office or store use on the first floor.

Where is this office unit located?

The property is located at 2357 Coney Island Avenue Brooklyn, NY.

What is the asking price?

The asking price for this property is $1,359,000.

What are key features of this property?

This property features: 3,000 square feet across two floors; 1,500‑square‑foot first‑floor store or office space; 2‑year lease remaining on the first floor