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Property Description

This prime investment opportunity in Coney Island features a high-potential mixed-use property with a warehouse and three residential units on a 60’ x 119’ lot (M1-2 zoning), allowing for various commercial and industrial uses with potential future zoning changes. The warehouse generates $5,000/month (month-to-month, no lease), while the residential units bring in additional rental income: a two-bedroom apartment at $2,000/month and two three-bedroom apartments at $2,500/month each. With low property taxes of $6,670 per year and an estimated 5% cap rate, this property offers strong investment potential. Ideally located near Home Depot, Raymour & Flanigan, Best Buy, and key commercial hubs, it also provides convenient access to public transportation via the N, D, F, and Q subway lines and quick entry to the Belt Parkway. Perfect for investors or owner-operators, this property allows for stable rental income while utilizing or leasing the warehouse. With ongoing zoning changes and potential for increased Floor Area Ratio (FAR), there may be future opportunities for vertical expansion and redevelopment. Don’t miss this rare chance to acquire a high-yield investment in a growing area.

Features
Heating System:
Natural Gas
Cooling System:
No
Basement:
Finished, Full
Sewer:
Other
Utilities:
See Remarks
Address Map
City:
NY
State:
NY
County:
Kings (Brooklyn)
Directions:
Use GPS
Property and Construction
Development Status:
Brick
Agent MlsId:
170705
Office MlsId:
RMXE01
Special Listing Conditions:
No
Tax Annual Amount:
$6,670
Water Source:
Other
PhotosCount:
3

Commercial Sale For Sale

2729 16th Street, New York, NY

7,125 Acre
$2,500,000
Listing ID #833912
Basic Details
Property Type :
Commercial Sale
Property SubType :
Mixed Use
Listing ID :
833912
Price :
$2,500,000
Bathrooms Total :
0
Building Area :
2,592 Sqft
Lot Area :
7,125 Acre
Year Built :
1925
Status :
Active
Status :
Active
Listing Office :
RE/MAX Edge
Listing Agent :
Michelle J. Zhang
Agent info
Kasner Properties
284 W Park Ave Long Beach, NY 11561
Contact Agent
Walkscore
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