610 Coney Island AveBrooklyn, NY 11218

For Sale
$5,750,000

Multi-Tenant Retail Building, High Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional mixed-use investment property, located at 610-616 Coney Island Avenue in Brooklyn's Kensington neighborhood, presents a compelling opportunity. Built in 1930, this three-story building offers 10,230 square feet of space, plus an additional 6,000 square feet in the basement, currently housing four tenants with 100% occupancy. The property boasts two drive-ins with lifts, providing convenient access for automotive businesses. Its strategic location offers easy access to public transportation, with the Q train a short walk away at the Beverley Road station and the F and G trains nearby. The lot size is 8,040 square feet, extending to East 9th Street. The asking price is $5,750,000, representing a price per square foot of $562.07 and a 6.00% cap rate. The property is zoned R5, C2-3, offering flexibility for future development. This core investment opportunity is ideal for those seeking a strong return in a vibrant Brooklyn location.

Highlights

  • Kensington, Brooklyn multifamily building (610-616 Coney Island Ave), built in 1930, three stories, four units.
  • 16,230 square foot building (10,230 SF above grade + 6,000 SF basement).
  • Property extends to East 9th Street.
  • Two drive-in entrances with freight elevators.
  • Convenient access to public transportation; short walk to Q train (Beverley Road Station) and nearby F/G trains.

Property Details for 610 Coney Island Ave

Property type
Other retail properties, Automotive properties
Square Feet
10,230 SF
Year Built
1930
Buildings
1
Stories
3
Units
4

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.6422893
Longitude
-73.9699517
610 Coney Island Ave, Brooklyn, New York

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610 Coney Island Ave
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