1737 Coney Island Ave
Brooklyn, NY 11230
Retail Property For Sale

Great Mixed Use opportunity with option for redevelopment. Commercial Mixed use building currently 2200 SF Retail 1100 SF (short term tenant in place @ $3600 PM) Office 1100 SF **** Plans are being drafted to extend the building. First phase will be to extend the commercial all the way back to property line creating a 1600 sf commercial space. Projected Rent $5000 Second phase to extend 3 floors 5 apartments. 2ND FL 4 bedroom 1.5 Baths and Balcony Projected Rent $3,400 3RD FL ( Two Apts ) 2 bed Projected $1,900 and 1 one bed $1,600 4TH & 5TH Floors Two 2 bed Duplex apts floor 4 and 5 Projected $2200 Each Total Projected Income $195,600 Projected expenses $39,000 Projected NOI $156,600 Projected Cap Rate 7.1% Based on Acquisition cost $1,350,000 Construction Cost $850,000