Mixed-Use Property with
For Sale
$1,399,000
3149 Coney Island Ave, Brooklyn, NY 11235
Three-level commercial building with restaurant operations and ancillary storage and event space.
Property Size2,240 SF
Price / SF$624.55
Days on Market11
Property Features for 3149 Coney Island Ave
General Information
Standard status
Active
Size
2,240 SF
Taxes and HOA fees
Annual Taxes
$20,803
Listing Agency:
Calemine & Co. Real Estate, LL
Listed By:
Louis J. Calemine · License #LJC0189
(718) 998-1100
Source:
Exprealty
Added: Aug 26
Changed: Sep 4
Last Checked: Sep 1 at 8:29PM
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 Calemine & Co. Real Estate, LL
Investment Insights
Based on property information with market context.
This mixed-use property was built in 1930 and includes 2,240 square feet across a first floor, basement, and second floor. The restaurant occupies the first floor and basement, while the second floor is being used for storage and event functions associated with the restaurant operation.
The building is located at 3149 Coney Island Avenue in Brooklyn’s Brighton Beach area. One restaurant operator has occupied the property for 30+ years under a lease scheduled to end in January 2028. The lease is available for review upon request, and the property may be delivered vacant.
The building is located at 3149 Coney Island Avenue in Brooklyn’s Brighton Beach area. One restaurant operator has occupied the property for 30+ years under a lease scheduled to end in January 2028. The lease is available for review upon request, and the property may be delivered vacant.
Key Highlights
- 2,240‑square‑foot mixed‑use building constructed in 1930
- Restaurant use spans the first floor and basement
- Second floor currently serves as storage and event space
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
$81,312
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
5.81%
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%
$1,626,240
$1.6M
Cap Rate 7%
$1,161,600
$1.2M
Cap Rate 9%
$903,467
$903.5K
Market Conditions
NOI Build-Up for 2,240 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
$147.8K $66.00/SF
− Vacancy
−$17.7K −$7.92/SF
EGI
$130.1K $58.08/SF
− OpEx
−$48.8K −$21.78/SF
NOI
$81.3K $36.30/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,626,240
Cap Rate 7%
$1,161,600
Cap Rate 9%
$903,467
Alternative Uses
Best Use
Specialty Retail
$1.85M
$1.62M – $2.16M
NOI $129,830 @ 7.0% cap · market cap 9.28%
Second Best
Mixed Use
$1.16M
$1.02M – $1.36M
NOI $81,312 @ 7.0% cap · market cap 5.81%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,130
Businesses Nearby
75k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Dining 34%
Electronics 15%
Starbucks
Dining
18,545 visits/mo
0.1 miles
Mobil
Shops & Services
16,113 visits/mo
0.2 miles
Chase Bank
Shops & Services
15,188 visits/mo
0.1 miles
AT&T
Electronics
8,318 visits/mo
0.2 miles
Dunkin' Donuts
Dining
7,300 visits/mo
0.3 miles
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-level commercial building with restaurant operations and ancillary storage and event space.
Where is this mixed-use property located?
The property is located at 3149 Coney Island Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: 2,240‑square‑foot mixed‑use building constructed in 1930; Restaurant use spans the first floor and basement; Second floor currently serves as storage and event space
