2803 Mermaid Ave Brooklyn, NY 11224
- Retail properties
- 6,800 SF
Current Use by Public Records
- Coney Grocery & Smoke Shop / Grocery Store / Convenience Store
Property Details for 2803 Mermaid Ave
- Year built
- 1927
- Property size
- 6,800 SF
- Property type
- Retail properties
- Property subtype
- Mixed-use properties
Description
This exceptional Coney Island investment opportunity presents a 6,800 square foot, mixed-use building at 2803 Mermaid Avenue, Brooklyn, NY 11224. Built in 1927, this all-brick structure boasts seven residential units: three one-bedroom apartments and four two-bedroom apartments. The property also includes a ground-floor retail space, currently vacant, previously used as a deli. Situated on a 2,000 square foot lot, the building is zoned R7A C2-4, offering considerable potential for future development. The asking price is $1,300,000, translating to $191 per square foot. The property is being sold "as-is," presenting a unique chance for investors to capitalize on its prime location and development potential within the vibrant Coney Island neighborhood. This is a rare opportunity to acquire a well-located, multi-family property with significant upside in a rapidly growing area. The property's strong bones and flexible zoning make it an attractive proposition for both seasoned investors and those seeking a high-return investment. Detailed financial information is available upon request.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9946
- Latitude
- 40.5758
