Two-Story Office and Retail
For Sale
$1,359,000
2357 Coney Island, Brooklyn, NY 11223
Completely renovated building with first-floor retail/office space and available second-floor office units.
Property Size3,000 SF
Price / SF$453
Days on Market153
Property Features for 2357 Coney Island
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Office
Amenities
3
Flat
R6A,C2-3
Building Details
Stories
2
Listing Agency:
Dom Realty Inc
(718) 407-6366
Listed By:
Boris Rudoy
(718) 407-6366
Source:
Xome
Added: Mar 31
Changed: Aug 23
Last Checked: Aug 22 at 6:52AM
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 Dom Realty Inc
Investment Insights
Based on property information with market context.
This completely renovated two-story building includes first-floor store or office space and multiple second-floor office suites. The first floor is described as 1,500 square feet with a two-year lease remaining. Second floor Office #2 and Office #3 are available, with projected rents noted for each unit.
The property is located at 2357 Coney Island Ave in Brooklyn, NY. Reported walk, bike, and transit scores indicate strong access for pedestrians, cyclists, and public transportation.
The building’s current configuration supports a mixed retail/office setup, with tenancy in place on the first floor and leasing availability on the second floor.
The property is located at 2357 Coney Island Ave in Brooklyn, NY. Reported walk, bike, and transit scores indicate strong access for pedestrians, cyclists, and public transportation.
The building’s current configuration supports a mixed retail/office setup, with tenancy in place on the first floor and leasing availability on the second floor.
Key Highlights
- First‑floor store/office offering 1,500 sq. ft. with a 2‑year lease left
- Available second‑floor Office #2 with projected rent of $1,400/month
- Available second‑floor Office #3 with projected rent of $1,600/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
Retail
$2.06M
$1.80M – $2.40M
NOI $143,864 @ 7.0% cap · market cap 10.59%
Second Best
Office B
$1.07M
$935.6K – $1.25M
NOI $74,844 @ 7.0% cap · market cap 5.51%
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
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
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Frequently Asked Questions
What type of property is this?
Office units - Completely renovated building with first-floor retail/office space and available second-floor office units.
Where is this office units located?
The property is located at 2357 Coney Island 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: First‑floor store/office offering 1,500 sq. ft. with a 2‑year lease left; Available second‑floor Office #2 with projected rent of $1,400/month; Available second‑floor Office #3 with projected rent of $1,600/month
