Mixed-Use Property with
New
For Sale
$5,495,000
616 Coney Island Avenue, Brooklyn, NY 11218
Three commercial suites are paired with a residential duplex along Coney Island Avenue.
Property Size10,583 SF
Price / SF$519.23
Days on Market3
Property Features for 616 Coney Island Avenue
General Information
Standard status
Active
Size
10,583 SF
Property subtype
Mixed-Use
Occupancy
75%
Additional Details
Cap Rate
6.5%
Multifamily Units
2
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
10,583 SF
Units
4
Tenancy
Multi
Listing Agency:
New York City Office
(718) 475-4369
Listed By:
Shaun Riney · License #License(s): NY: 10491208207, NY: 10301215754
(718) 475-4369
Source:
Marcusmillichap
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 11 at 4:40AM
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
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 = 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
$384,163
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
6.99%
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%
$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
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
$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 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%
$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 9.24%
Second Best
Mixed Use
$5.49M
$4.80M – $6.40M
NOI $384,163 @ 7.0% cap · market cap 6.99%
Theoretical Best
Specialty Retail
$8.76M
$7.67M – $10.22M
NOI $613,391 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 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 $5,495,000.
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
