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—schedule a viewing today!

Features
: Metal, Tile
Address Map
11224
16th
2729
Street
0
W74° 1' 32.8''
N40° 39' 26''
MLS Addon
: Mixed Use
0
64
: Hardwood, Tile
: 6+ Spaces, Built-in Garage
: Doors - 11-15 Ft
: Other
118210
RE/MAX Edge
Michelle J. Zhang
mz4172
$0
$0
: Finished, Full
: Stucco, Vinyl Siding
: Active
$6,670

Mixed Use For Sale

2729 16th Street, Brooklyn, New York 11224

2,592 Sqft
$2,500,000
Listing ID #489820
Basic Details
Property Type : Mixed Use
Listing Type : For Sale
Listing ID : 489820
Price : $2,500,000
Square Footage : 2,592 Sqft
Year Built : 0
Lot Area : 7,125 Sqft
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