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616 Coney Island Ave
Brooklyn, NY 11218 Kensington

$5,800,000 USD

Auto Repair For Sale  •  10,230 SF

Property Details

  • Property Type Auto Repair
  • Total Building Size 10,583 SF
  • Lot Size 0.21 AC
  • Building Class B
  • Year Built 1930
  • Cap Rate 6.20 %
  • Tenancy Multiple
  • Zoning R5
100 Transit Score
100 Walk Score

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

Financial Summary

Cap Rate: 6.20 %

Public Transportation

Commuter RailDriveWalkDistance
Nostrand Avenue Station (Far Rockaway Branch - Long Island Rail Road, Hempstead Branch - Long Island Rail Road, Long Beach Branch - Long Island Rail Road, West Hempstead Branch - Long Island Rail Road) 13 min - 3.4 mi
Flatbush Avenue Station (Far Rockaway Branch - Long Island Rail Road, Hempstead Branch - Long Island Rail Road, Long Beach Branch - Long Island Rail Road, West Hempstead Branch - Long Island Rail Road) 11 min - 4.0 mi
Transit/SubwayDriveWalkDistance
Beverley Road (Q Line) (Q - New York MTA Subway (The Subway)) 2 min 7 min 0.4 mi
Cortelyou Road (Q - New York MTA Subway (The Subway)) 2 min 9 min 0.5 mi
Ditmas Avenue (F - New York MTA Subway (The Subway)) 2 min 12 min 0.7 mi
Newkirk Avenue (B,Q Line) (B - New York MTA Subway (The Subway), Q - New York MTA Subway (The Subway)) 3 min 13 min 0.7 mi
AirportDriveWalkDistance
John F Kennedy International 26 min - 11.5 mi
LaGuardia 21 min - 14.5 mi
Newark Liberty International 32 min - 23.1 mi
Daniel Greenblatt 718-475-4357 Marcus & Millichap
Daniel Greenblatt 718-475-4357 Marcus & Millichap