Incomplete Renovation Church
For Sale
$1,200,000
2769 Stillwell Avenue, Brooklyn, NY 11224
COMMERCIAL - Brooklyn, NY
Property Size3,822 SF
Lot Size0.05 Acres
Price / SF$313.97
Days on Market51
Property Features for 2769 Stillwell Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M1-2
Subdivision
Coney Island
Standard status
Active
Size
3,822 SF
Lot size
0.05 Acres
Building Details
Year built
1931
Floors in Building
2
Flooring type
Concrete
Building materials
Masonry
Roof type
Flat
Listing Agency:
Re/Max Advisors
(718) 720-2300
Listed By:
Scott J. O'Brien
(718) 720-2300
Added: Jun 12
Changed: Jun 26
Last Checked: Aug 1 at 11:06AM
MLS# 502263
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Investment Insights
Based on property information with market context.
This property is a commercial building that was used as a church for more than 40 years and is currently an incomplete renovation project. The renovation was started but stopped halfway through, leaving the interior in a partially completed state. The first floor is studded and ready for sheetrock, while the second floor is half way done and presently configured as a shell.
The building is located at 2769 Stillwell Avenue in Brooklyn (11224). The area is described as highly commercial, with access to public transportation and major highways nearby, which can support a range of tenancy types.
Given its current layout and the scope of remaining renovation work, the building may suit tenants or owners looking for adaptable interior space, including offices, warehouse use, a retail store, or light manufacturing. It may also be brought back to church use, consistent with its prior operation. The M1-2 zoning designation supports industrial and related commercial activity, and the unfinished condition can allow a purchaser or contractor to complete improvements in line with their specific business plan.
The building is located at 2769 Stillwell Avenue in Brooklyn (11224). The area is described as highly commercial, with access to public transportation and major highways nearby, which can support a range of tenancy types.
Given its current layout and the scope of remaining renovation work, the building may suit tenants or owners looking for adaptable interior space, including offices, warehouse use, a retail store, or light manufacturing. It may also be brought back to church use, consistent with its prior operation. The M1-2 zoning designation supports industrial and related commercial activity, and the unfinished condition can allow a purchaser or contractor to complete improvements in line with their specific business plan.
Key Highlights
- Incomplete renovation project with first floor studded and ready for sheetrock
- Second floor is half complete and currently a shell
- Masonry construction with concrete flooring
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $101.8k | $26.64 |
| − Vacancy | −$4.7k | −$1.23 |
| EGI | $97.1k | $25.41 |
| − OpEx | −$14.6k | −$3.81 |
| NOI | $82.6k | $21.60 |
3,822 SF · lease $26.64/SF/yr · vacancy 4.60% · expense 15.00%
Alternative Uses
Best Use
Retail
$2.62M
$2.29M – $3.05M
NOI $183,282 @ 7.0% cap · market cap 15.27%
Second Best
Warehouse
$1.18M
$1.03M – $1.38M
NOI $82,564 @ 7.0% cap · market cap 6.88%
Theoretical Best
Specialty Retail
$3.16M
$2.77M – $3.69M
NOI $221,523 @ 7.0% cap · market cap 18.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 11224, NY
46,019
Population
21,354
Households
2.2
Avg Household Size
46
Median Age
33%
College-Educated
82%
High-School Grad
1.6 sq mi
ZIP Area
28,762
Density / Sq Mi
$41,449
Median Household Income
$41,233
Median Earnings
$905
Median Rent
$512,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Church & religious facility - In-progress renovation offers flexible space for offices, warehouse, retail, manufacturing, or religious use.
Where is this church & religious facility located?
The property is located at 2769 Stillwell Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Incomplete renovation project with first floor studded and ready for sheetrock; Second floor is half complete and currently a shell; Masonry construction with concrete flooring
