Single-Story Storefront
New
For Sale
$3,199,000
3108 Mermaid Ave, Brooklyn, NY 11224
Commercial Sale, Brooklyn, NY
Property Size4,000 SF
Lot Size0.09 Acres
Price / SF$799.75
Days on Market1
Property Features for 3108 Mermaid Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Mixed Use
Subdivision
Coney Island
View
City
Standard status
Active
Size
4,000 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
28762
Building Details
Year built
1935
Floors in Building
1
Buildings
1
Listing Agency:
REMAX REAL ESTATE PROFESSIONALS
Listed By:
Vito Angelo · License #VITLO524
(718) 887-5708
Added: Nov 3
Last Checked: Nov 3 at 9:06PM
MLS# 12053794
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
At 3108 Mermaid Ave, this single-story commercial property contains 4,000 square feet on a 0.0918-acre lot. The space may be divided into approximately 2,000-square-foot units, and the site has approximately 9,700 buildable square feet. The property is offered for sale and is also described as available for immediate occupancy or leasing.
The building sits on Mermaid Avenue in Coney Island, near the Coney Island-Stillwell Avenue transit hub, served by the D, F, N and Q subway lines. The beach, boardwalk, amusement district, aquarium and Maimonides Park are identified among nearby destinations. The surrounding area includes residential neighborhoods and neighborhood-serving businesses.
The building sits on Mermaid Avenue in Coney Island, near the Coney Island-Stillwell Avenue transit hub, served by the D, F, N and Q subway lines. The beach, boardwalk, amusement district, aquarium and Maimonides Park are identified among nearby destinations. The surrounding area includes residential neighborhoods and neighborhood-serving businesses.
Key Highlights
- 4,000‑square‑foot commercial building on a 0.0918‑acre lot
- Approximately 9,700 buildable square feet
- Single‑story layout can be divided into 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
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 - The commercial space can be configured as two smaller units for multi-tenant occupancy.
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‑square‑foot commercial building on a 0.0918‑acre lot; Approximately 9,700 buildable square feet; Single‑story layout can be divided into approximately 2,000‑square‑foot units
