Single-Story
New
For Sale
$3,199,000
3108 Mermaid Avenue, Brooklyn, NY 11224
Commercial, Brooklyn, NY
Property Size4,000 SF
Lot Size0.09 Acres
Price / SF$799.75
Days on Market5
Property Features for 3108 Mermaid Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6
Subdivision
Coney Island
Standard status
Active
Size
4,000 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
28762
Building Details
Year built
1935
Floors in Building
1
Number of units
1
Building materials
Masonry
Roof type
Rubber, Flat
Buildings
1
Listing Agency:
RE/MAX Real Estate Professiona
Listed By:
Vito Angelo · License #VITLO524
(718) 532-2000
Added: Nov 2
Last Checked: Nov 6 at 6:06AM
MLS# 505766
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,000-square-foot storefront property is a single-story masonry building constructed in 1935, with a flat rubber roof. The space can be occupied as one commercial unit or divided into approximately 2,000-square-foot units. The property is zoned R6 and occupies a 0.0918-acre lot; approximately 9,700 square feet of buildable area is identified in the property information.
The building is on Mermaid Avenue in Coney Island, near the Coney Island-Stillwell Avenue transit hub, which serves the D, F, N, and Q subway lines. The surrounding area includes residential neighborhoods, the beach and boardwalk, an amusement district, an aquarium, and Maimonides Park.
The building is on Mermaid Avenue in Coney Island, near the Coney Island-Stillwell Avenue transit hub, which serves the D, F, N, and Q subway lines. The surrounding area includes residential neighborhoods, the beach and boardwalk, an amusement district, an aquarium, and Maimonides Park.
Key Highlights
- 4,000‑square‑foot, single‑story masonry building constructed in 1935
- Approximately 9,700 square feet of buildable area
- Can be configured as approximately 2,000‑square‑foot units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$231,840
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,636,800
$4.6M
Cap Rate 7%
$3,312,000
$3.3M
Cap Rate 9%
$2,576,000
$2.6M
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$336.0K $84.00/SF
− Vacancy
−$26.9K −$6.72/SF
EGI
$309.1K $77.28/SF
− OpEx
−$77.3K −$19.32/SF
NOI
$231.8K $57.96/SF
Area
Brooklyn, NY
Vacancy
8.00%
Lease Rate
$84.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,636,800
Cap Rate 7%
$3,312,000
Cap Rate 9%
$2,576,000
Alternative Uses
Best Use
Specialty Retail
$3.31M
$2.90M – $3.86M
NOI $231,840 @ 7.0% cap · market cap 7.25%
Second Best
Retail
$2.74M
$2.40M – $3.20M
NOI $191,818 @ 7.0% cap · market cap 6.00%
Theoretical Best
—
—
same as Best Use
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 - Masonry construction and flexible occupancy support multiple commercial configurations.
Where is this storefront property located?
The property is located at 3108 Mermaid Avenue 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‑square‑foot, single‑story masonry building constructed in 1935; Approximately 9,700 square feet of buildable area; Can be configured as approximately 2,000‑square‑foot units
