fbpx

2729 West 16th Street, Brooklyn, New York, New York 11224

$2,500,000

Listing Placeholder
Listing Placeholder
Listing Placeholder

Property Details

Neighborhood: Coney Island Tax Amount: $6670.00 MLS Number: 489820 Lot Size: 60 x 118 Lot SqFt: 7125

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!

Property Type Mixed Use

Property Status: Active

Dalia Samouha

Real Estate Broker

Cell: 718.687.7576

Email: [email protected]

Instagram: @idealpropertiesrealty

Location

2729 West 16th Street, Brooklyn, New York, New York 11224