About 2729 W 16th Street
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 of 2729 W 16th Street
| MLS® # | 833912 |
|---|---|
| Price | $2,500,000 |
| Bathrooms | 0.00 |
| Square Footage | 2,592 |
| Square Footage | 7125 |
| Acres | 0.16 |
| Year Built | 1925 |
| Type | Commercial |
| Sub-Type | Mixed Use |
| Status | Active |
Community Information
| Address | 2729 W 16th Street |
|---|---|
| City | Brooklyn |
| County | Kings (Brooklyn) |
| State | NY |
| Zip Code | 11224 |
Amenities
| Utilities | See Remarks |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Natural Gas |
|---|---|
| Cooling | None |
| Has Basement | Yes |
| Fireplace | No |
Floor Plans
| Basement | Finished, Full |
|---|
Exterior
| Construction | Brick |
|---|
Additional Information
| Listing Courtesy of | RE/MAX Edge |
|---|---|
| Date Listed | March 11th, 2025 |
| Days on Market | 8 |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | RE/MAX Edge |
|---|