Large MixedUse Prime Location CAP 7.26% 2338 Coney Island Avenue, Brooklyn, NY 11223 Price: $1,475,000 Building Size: 4,800 SF Price/SF: $307.29 Property Type: Retail Property Sub-type: Restaurant Additional Sub-types: Garden/Low-Rise Office Building Street Retail Property Use Type: Vacant/Owner-User Lot Size: 2,570 SF APN / Parcel ID: 7112/17 Description The first floor of this solid brick mixed-use building was legally extended almost to the full length of the property and it was totally renovated recently. Extra Large 2,400 Sq. Ft. storefront is set up as a high-end restaurant with full commercial kitchen in the basement. Two units on the second floor are in excellent new condition, may be used as home-offices or apartments. Property also comes with approximately 8.900 Sq. Ft. of additional air rights. This property is being offered vacant and in as-is condition. The income and expenses Proforma: AAA lease for the Restaurant 2,400 SF. $40 a foot $96,000 a year, $8,000 a month (+ a bonus 1,200 Sq. Ft. professional kitchen in the basement), 2 apartments $28,800 a year, $1,200 monthly, GAI $124,000, Expenses $17,000, NOI $107,000, CAP Rate 7.26%. It is an excellent opportunity for the owner user or savvy investor to purchase this primary located property to capitalize on the high income performance. This solid brick mixed-use building is located on the West side of Coney Island Ave, one of the busiest Commercial Arteries of Brooklyn, between Avenue U and Avenue T, on the board line of Gravesend, Homecrest and Sheepshead Bay neighborhoods Please contact an exclusive broker Andre Yanoff at (718)412-0440
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