1737 Coney Island Ave
Brooklyn, NY 11230

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