Single-Story Storefront
New
For Sale
$3,199,000
3108 Mermaid Ave, Brooklyn, NY 11224
Flexible commercial space on Mermaid Avenue offers occupancy, leasing, or multi-tenant configuration options.
Property Size4,000 SF
Price / SF$799.75
Days on Market4
Property Features for 3108 Mermaid Ave
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Land Use
industrial, retail, commercial
Taxes and HOA fees
Annual Taxes
$28,762
Building Details
Building Size
4,000 SF
Year Built
1935
Buildings
1
Stories
1
Listing Agency:
Remax Real Estate Professionals
Listed By:
Vito Angelo · License #VITLO524
(718) 532-2000
Source:
Elliman
Added: Nov 3
Changed: Nov 5
Last Checked: Nov 4 at 12:43PM
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 Remax Real Estate Professionals
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This single-story commercial building on Mermaid Avenue contains 4,000 SF and dates to 1935. The space can accommodate immediate occupancy or leasing, and may be divided into approximately 2,000 SF units. The property also has approximately 9,700 buildable square feet, providing a separate redevelopment consideration alongside its existing building configuration.
Mermaid Avenue is identified as a primary commercial thoroughfare in Coney Island. The property is near the Coney Island-Stillwell Avenue transit hub, served by the D, F, N, and Q subway lines, and within minutes of the beach, boardwalk, entertainment attractions, aquarium, and Maimonides Park. Surrounding residential neighborhoods and neighborhood-serving businesses contribute to the area’s commercial context.
Mermaid Avenue is identified as a primary commercial thoroughfare in Coney Island. The property is near the Coney Island-Stillwell Avenue transit hub, served by the D, F, N, and Q subway lines, and within minutes of the beach, boardwalk, entertainment attractions, aquarium, and Maimonides Park. Surrounding residential neighborhoods and neighborhood-serving businesses contribute to the area’s commercial context.
Key Highlights
- 4,000 SF single‑story commercial building
- Approximately 9,700 buildable square feet
- Potential division into approximately 2,000 SF units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$191,818
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,836,360
$3.8M
Cap Rate 7%
$2,740,257
$2.7M
Cap Rate 9%
$2,131,311
$2.1M
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$311.0K $77.76/SF
− Vacancy
−$37.0K −$9.25/SF
EGI
$274.0K $68.51/SF
− OpEx
−$82.2K −$20.55/SF
NOI
$191.8K $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%
$3,836,360
Cap Rate 7%
$2,740,257
Cap Rate 9%
$2,131,311
Alternative Uses
Best Use
Retail
$2.74M
$2.40M – $3.20M
NOI $191,818 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.31M
$2.90M – $3.86M
NOI $231,840 @ 7.0% cap · market cap 7.25%
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
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
829
Businesses Nearby
28k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 35%
Dining 33%
Electronics 18%
Shops & Services 12%
Key Food
Groceries
9,950 visits/mo
0.2 miles
Dunkin' Donuts
Dining
4,418 visits/mo
0.1 miles
T-Mobile
Electronics
3,630 visits/mo
0.1 miles
Citibank
Shops & Services
3,370 visits/mo
0.1 miles
Popeyes Louisiana Kitchen
Dining
3,032 visits/mo
0.1 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Vanilla Flowers — 1724 Mermaid Ave, Brooklyn, NY 11224
Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial space on Mermaid Avenue offers occupancy, leasing, or multi-tenant configuration options.
Where is this storefront property located?
The property is located at 3108 Mermaid Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,199,000.
What are key features of this property?
This property features: 4,000 SF single‑story commercial building; Approximately 9,700 buildable square feet; Potential division into approximately 2,000 SF units
