616 Coney Island Ave - Auto Repair FOR SALE


Brooklyn, NY 11218- Kensington
$5,800,000 USD
718-475-4357
616 Coney Island Ave, Brooklyn, NY for Sale
$5,800,000 USD
Auto Repair - FOR SALE
1/38
null | 6.2% Cap Rate

616 Coney Island Ave
Brooklyn, NY 11218
Kensington


HIGHLIGHTS

  • 10,583-Square-Foot Mixed-Use Asset, 3 Commercial Units and 1 Residential Duplex
  • Offered at $5,800,000, 6.2% In-Place Cap Rate to 7.5% Pro Forma Cap Rate
  • $435,757 Stabilized Pro Forma NOI, Offering Significant Income Upside
  • Strategic Brooklyn Location on the High-Traffic Coney Island Avenue Corridor
  • R5/C2-3 Zoning Allowing Future Ground-Up Redevelopment
  • 60.17 x 136 Lot Size

OVERVIEW

VALUE-ADD AND LEASE-UP POTENTIAL The property features a versatile 10,583-square-foot configuration comprising three commercial suites and one residential duplex. Investors can realize immediate upside and stabilize income through the lease-up of a vacant 3,290-square-foot commercial suite, alongside strategic market rent adjustments over time. ZONING & DEVELOPMENT UPSIDE The property falls into the highly flexible R5/C2-3 zoning district, which allows for a combination of residential and commercial use. It holds a favorable development footprint of a 60.17 by 136-foot lot size and sits in the Coney Island Avenue corridor within the Office of City Planning's Proposed South of Prospect Park Re-zoning Plan, enabling long-term potential for strategic expansion or future ground-up redevelopment. PREMIUM FOOT TRAFFIC AND VISIBILITY Prominently positioned in a high-density, multi-tenant section of the Kensington-Flatbush border, the site benefits from strong local demographics. Its placement along a primary north-south artery guarantees heavy automotive and pedestrian traffic, ensuring high visibility for commercial tenants. EXCEPTIONAL REGIONAL CONNECTIVITY Located just south of Prospect Park, the asset boasts exceptional walkability and regional transit access. It features direct access to the Q train at the nearby Beverley Road subway station, complemented by major local bus routes, providing seamless connectivity throughout Brooklyn and into Manhattan.

FOR SALE DETAILS

PRICE

$5,800,000 USD

PRICE/SF

$567 USD /SF

CAP RATE

6.2%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1930

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,222 SF

ZONING

R5

APN/PARCEL ID

05361-0025

ASK ABOUT THIS PROPERTY

Daniel GreenblattMarcus & MillichapMore Info
718-475-4357

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Daniel GreenblattMarcus & MillichapMore Info
718-475-4357

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.