Newly Renovated Retail
For Sale
Contact for pricing
692 Coney Island Ave, Brooklyn, NY 11218
Newly renovated property with a vacant commercial unit and two residential units.
Property Size2,700 SF
Price / SF$592.59
Days on Market305
Property Features for 692 Coney Island Ave
General Information
Standard status
Active
Size
2,700 SF
Property subtype
RETAIL
Additional Details
Multifamily Units
2
Listing Agency:
Tri State Commercial Realty
(718) 437-6100
Listed By:
Shlomi Bagdadi · License #10311204539
Source:
Moodyscre
Added: Dec 4, 2025
Changed: Oct 1
Last Checked: Oct 4 at 12:06PM
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 Tri State Commercial Realty
Investment Insights
Based on property information with market context.
This newly renovated retail duplex includes one vacant commercial unit along with two residential units. The property is offered for sale as a mixed-use building with both commercial and residential components.
The asset is located on Coney Island Ave in Brooklyn, NY 11218.
With a dedicated commercial space already cleared for occupancy, the building offers a combined live-and-work style configuration alongside the two residential units.
The asset is located on Coney Island Ave in Brooklyn, NY 11218.
With a dedicated commercial space already cleared for occupancy, the building offers a combined live-and-work style configuration alongside the two residential units.
Key Highlights
- Newly renovated property with 1 commercial unit (vacant) and 2 residential units
- Vacant commercial unit provides flexible space for a new tenant or business use
- Prime Coney Island Ave frontage
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
$129,477
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
8.09%
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%
$2,589,540
$2.6M
Cap Rate 7%
$1,849,671
$1.8M
Cap Rate 9%
$1,438,633
$1.4M
Market Conditions
NOI Build-Up for 2,700 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
$210.0K $77.76/SF
− Vacancy
−$25.0K −$9.25/SF
EGI
$185.0K $68.51/SF
− OpEx
−$55.5K −$20.55/SF
NOI
$129.5K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /SF/Yr
Expense Ratio
30.00%
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%
$2,589,540
Cap Rate 7%
$1,849,671
Cap Rate 9%
$1,438,633
Alternative Uses
Best Use
Retail
$1.85M
$1.62M – $2.16M
NOI $129,477 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.24M
$1.96M – $2.61M
NOI $156,492 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,449
Businesses Nearby
128k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 34%
Groceries 9%
Electronics 2%
McDonald's
Dining
25,733 visits/mo
0.3 miles
Dunkin' Donuts
Dining
14,343 visits/mo
0.3 miles
Mobil
Shops & Services
13,996 visits/mo
0.2 miles
Dunkin' Donuts
Dining
10,690 visits/mo
0.3 miles
Shell
Shops & Services
9,787 visits/mo
0.3 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
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Newly renovated property with a vacant commercial unit and two residential units.
Where is this storefront property located?
The property is located at 692 Coney Island Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Newly renovated property with 1 commercial unit (vacant) and 2 residential units; Vacant commercial unit provides flexible space for a new tenant or business use; Prime Coney Island Ave frontage
