Mixed-Use Property with
616 Coney Island Avenue, Brooklyn, NY 11218
For Sale
$4,995,000
Three commercial suites are paired with a residential duplex along Coney Island Avenue.
Property Size10,583 SF
Price / SF$471.98
Days on Market98
Property Features for 616 Coney Island Avenue
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Cap Rate
Multifamily Units
Amenities
616 Coney Island Avenue, built in 1930, is a 10,583 SF Mixed-Use asset featuring 3 Commercial Units and 1 Residential Duplex.
Tax Class: 4 | Zoning: R5/C2-3 | 25% Free Market
Located just south of Prospect Park, the asset features direct access to the Q train at the nearby Beverley Road subway station and major local bus routes providing seamless connectivity.
Building Details
Building Size
Units
Tenancy
Listing Agency:
New York City Office
Listed By:
Shaun Riney · License NY #10301215754
(718) 475-4369
Source:
Marcusmillichap
Added: Aug 9
Changed: Nov 11
Last Checked: Nov 12 at 4:15AM
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 New York City Office
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 10,583-square-foot mixed-use property at 616 Coney Island Avenue combines three commercial suites with one residential duplex. The configuration includes a vacant 3,290-square-foot commercial suite alongside the occupied or leasable components of the property.
The building is located in Brooklyn’s Kensington neighborhood near the Flatbush border, on Coney Island Avenue, a north-south corridor serving a dense residential and commercial area. The property offers a combination of commercial and residential space within a single asset.
The building is located in Brooklyn’s Kensington neighborhood near the Flatbush border, on Coney Island Avenue, a north-south corridor serving a dense residential and commercial area. The property offers a combination of commercial and residential space within a single asset.
Key Highlights
- 10,583‑square‑foot mixed‑use property
- Three commercial suites and one residential duplex
- Vacant 3,290‑square‑foot commercial suite
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$384,163
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,683,260
$7.7M
Cap Rate 7%
$5,488,043
$5.5M
Cap Rate 9%
$4,268,478
$4.3M
Market Conditions
NOI Build-Up for 10,583 SF
Gross rent
$698.5K $66.00/SF
− Vacancy
−$83.8K −$7.92/SF
EGI
$614.7K $58.08/SF
− OpEx
−$230.5K −$21.78/SF
NOI
$384.2K $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 Rate 5%
$7,683,260
Cap Rate 7%
$5,488,043
Cap Rate 9%
$4,268,478
Alternative Uses
Best Use
Retail
$7.25M
$6.34M – $8.46M
NOI $507,503 @ 7.0% cap · market cap 10.16%
Second Best
Mixed Use
$5.49M
$4.80M – $6.40M
NOI $384,163 @ 7.0% cap · market cap 7.69%
Theoretical Best
Specialty Retail
$8.76M
$7.67M – $10.22M
NOI $613,391 @ 7.0% cap · market cap 12.28%
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
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,392
Businesses Nearby
166k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Dining 45%
Groceries 7%
Electronics 2%
McDonald's
Dining
25,733 visits/mo
0.5 miles
BP
Shops & Services
19,538 visits/mo
0.4 miles
Dunkin' Donuts
Dining
14,343 visits/mo
0.5 miles
Mobil
Shops & Services
13,996 visits/mo
0.0 miles
Mobil
Shops & Services
13,316 visits/mo
0.4 miles
Demographics for 11218, NY
78,642
Population
27,403
Households
2.9
Avg Household Size
35
Median Age
51%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
56,173
Density / Sq Mi
$95,916
Median Household Income
$55,190
Median Earnings
$1,966
Median Rent
$914,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Mixed-use properties in Brooklyn, NY
Properties on Market for Mixed-use properties in Brooklyn
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three commercial suites are paired with a residential duplex along Coney Island Avenue.
Where is this mixed-use property located?
The property is located at 616 Coney Island Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,995,000.
What are key features of this property?
This property features: 10,583‑square‑foot mixed‑use property; Three commercial suites and one residential duplex; Vacant 3,290‑square‑foot commercial suite
