For Sale
$2,199,000

1502 Mermaid AveBrooklyn, NY 11224

High-Demand Retail, R7A Zoning, Huge Potential

Overview

Added:
Feb 3
Days on market:
55
This exceptional Coney Island commercial property at 1502 Mermaid Avenue offers 3,360 square feet on a 0.08-acre corner lot. Currently housing four retail stores – two occupied by Sneaker Town, one by Best Choice Cleaners, and one vacant – this property presents a compelling investment opportunity. The favorable R7A zoning with a C2-4 commercial overlay allows for a significant 13,440 buildable square feet of residential space (FAR 4), subject to architectural verification. The existing retail spaces can be delivered vacant upon closing, providing immediate flexibility for the new owner. The prime location ensures high demand for commercial rentals, with potential monthly rental income estimated between $12,500 and $15,000. This makes it ideal for investors seeking strong rental returns or developers aiming to capitalize on the area's booming real estate market. The property's suitability as a 1031 exchange property further enhances its appeal. This is a rare chance to acquire a highly desirable corner lot in a rapidly developing neighborhood. Please note that the current commercial tenants should not be disturbed. This is a truly exceptional opportunity.

Property Details for 1502 Mermaid Ave

Property type
Square Feet
3,360 SF
Lot Size (sq. ft)
3,485 SF

Location Insight

City
Brooklyn
County
Kings (Brooklyn)
State
New York
Latitude
40.57673
Longitude
-73.98277
1502 Mermaid Ave, Brooklyn, New York

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1502 Mermaid Ave
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