Mixed-Use Building with
New
For Sale
$1,399,000
3149 Coney Island Avenue, Brooklyn, NY 11235
Commercial, Brooklyn, NY
Property Size2,240 SF
Lot Size0.04 Acres
Price / SF$624.55
Days on Market3
Property Features for 3149 Coney Island Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6
Basement
Partial
Subdivision
Brighton Beach
Standard status
Active
Size
2,240 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
20803
Building Details
Year built
1930
Floors in Building
2
Number of units
1
Building materials
Block, Brick
Roof type
Flat
Listing Agency:
Calemine & Co. Real Estate, LL
(718) 998-1100
Listed By:
Louis J. Calemine
(718) 998-1100
Added: Aug 26
Last Checked: Aug 28 at 9:06AM
MLS# 504067
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.
Investment Insights
Based on property information with market context.
This 2,240-square-foot mixed-use building contains restaurant space across the first floor and basement, with second-floor residential space currently configured for storage and events. Block and brick construction, a flat roof, and a 1930 construction date define the existing improvements. The property is zoned R6 and occupies a 0.0367-acre lot.
The full building is leased to one restaurant operator, with a tenancy history extending more than 30 years. The current lease runs through January 2028 and includes a provision assigning the entire NYC Property Tax to the tenant, although that provision has not been enforced by the landlord. The property may also be delivered vacant, subject to the applicable transaction terms.
The full building is leased to one restaurant operator, with a tenancy history extending more than 30 years. The current lease runs through January 2028 and includes a provision assigning the entire NYC Property Tax to the tenant, although that provision has not been enforced by the landlord. The property may also be delivered vacant, subject to the applicable transaction terms.
Key Highlights
- 2,240‑square‑foot mixed‑use building on a 0.0367‑acre lot
- Restaurant occupies the first floor and basement
- Second‑floor residential space is used for storage and events
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
Lease Details
100%
Occupancy
Single-tenant
Tenancy
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 - Leased property combining restaurant operations, residential space, and event-use areas in Brighton Beach.
Where is this mixed-use property located?
The property is located at 3149 Coney Island Avenue 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 on a 0.0367‑acre lot; Restaurant occupies the first floor and basement; Second‑floor residential space is used for storage and events
