616 Coney Island Avenue — Sale in Brooklyn, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Brooklyn, NY 11218

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Investment Figures

Cap rate
6.30%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to offer 616 Coney Island Avenue, a premier 10,583-square-foot mixed-use property situated in the highly desirable Kensington neighborhood, right near the Flatbush border. Prominently positioned along a primary north-south artery, the asset anchors one of Brooklyn’s most dynamic and densely populated residential and commercial corridors. The property features a highly versatile and balanced configuration, comprised of three commercial suites and one residential duplex. This mix delivers a steady, reliable income stream supported by a deep renter pool and strong local tenancy. For investors and end-users alike, the asset presents a rare acquisition opportunity with multiple actionable value-add strategies, including the immediate lease-up of a vacant 3,290-square-foot commercial suite, strategic market rent adjustments over time, and built-inflexibility offering long-term potential for future redevelopment. Investment Highlights: • 616 Coney Island Avenue, built in 1930, is a 10,583 SF Mixed-Use asset featuring 3 Commercial Units and 1 Residential Duplex. • Tax Class: 4 | Zoning: R5/C2-3 | 25% Free Market • Located just south of Prospect Park, the asset features direct access to the Q train at the nearby Beverley Road subway station and major local bus routes providing seamless connectivity.

Market Context

This mixed use in Brooklyn, NY is listed for sale. It is offered at an approximate 6.3% capitalization rate, a key benchmark for income-producing mixed use assets. Compare it against other mixed use listings for sale in Brooklyn, NY — view the full market.

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