Mixed-Use Retail and Office
For Sale
$1,359,000
2357 Coney Island Avenue, Brooklyn, NY 11223
COMMERCIAL - Brooklyn, NY
Property Size3,000 SF
Lot Size0.05 Acres
Price / SF$453
Days on Market112
Property Features for 2357 Coney Island Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
R6A,C2-3
Basement
Full
Subdivision
Gravesend
Standard status
Active
Size
3,000 SF
Lot size
0.05 Acres
Building Details
Number of units
1
Building materials
Brick
Roof type
Flat
Listing Agency:
Dom Realty Inc
(718) 407-6366
Listed By:
Boris Rudoy
(718) 407-6366
Added: May 5
Changed: Aug 4
Last Checked: Aug 24 at 5:06AM
MLS# 501167
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 totally renovated building offers space for both retail and office use, with a first-floor storefront or office and two second-floor office suites. The first-floor space is described as a store or office with approximately 1,500 square feet and a 2-year lease left. Second floor Office #2 and Office #3 are available, with projected rents provided for each.
The property is located at 2357 Coney Island Avenue in Brooklyn, NY 11223, and is identified under zoning R6A and C2-3. The listing is offered for sale.
The available leasing opportunities include Office #2 and Office #3 on the second floor, while the first-floor store or office is currently under an existing lease term.
The property is located at 2357 Coney Island Avenue in Brooklyn, NY 11223, and is identified under zoning R6A and C2-3. The listing is offered for sale.
The available leasing opportunities include Office #2 and Office #3 on the second floor, while the first-floor store or office is currently under an existing lease term.
Key Highlights
- Totally renovated brick building with flat roof
- First‑floor store or office: 1,500 sq. ft. with a 2‑year lease left
- Second‑floor office #2 available; projected rent $1,400/month
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
$74,844
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
5.51%
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%
$1,496,880
$1.5M
Cap Rate 7%
$1,069,200
$1.1M
Cap Rate 9%
$831,600
$831.6K
Market Conditions
NOI Build-Up for 3,000 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
$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 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%
$1,496,880
Cap Rate 7%
$1,069,200
Cap Rate 9%
$831,600
Alternative Uses
Best Use
Office B
$1.07M
$935.6K – $1.25M
NOI $74,844 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-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
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Totally renovated building with first-floor retail or office and two second-floor office suites available for lease.
Where is this office units 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: Totally renovated brick building with flat roof; First‑floor store or office: 1,500 sq. ft. with a 2‑year lease left; Second‑floor office #2 available; projected rent $1,400/month
