Medical Office and Retail
1340 Rockaway Parkway Brooklyn, NY 11236
1340 Rockaway Parkway, Brooklyn, NY, 11236
$3,650,000
For Sale
$3,650,000
COMMERCIAL - Brooklyn, NY
Property Size4,934 SF
Lot Size0.22 Acres
Price / SF$739.76
Days on Market244
Property Features for 1340 Rockaway Parkway
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C2-3/R5D
- Standard status
- Active
- Size
- 4,934 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Annual Amount
- 25870
Building Details
- Year built
- 2002
- Floors in Building
- 1
- Number of units
- 1
- Flooring type
- Tile, Concrete
- Building materials
- Block, Brick, Masonry, Steel
- Roof type
- Flat, Asphalt
Listing Agency
A P Services Inc
(347) 515-8272
44 Bay 38th St, Brooklyn, NY
Listed by
Aliaksei A. (Alex) Palaukou · License #AP8095
(347) 515-8272
Added: Nov 18, 2025 Updated: Jul 12 at 5:37 am Checked: Jul 20 at 5:06 pm
MLS# 497452
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property offers 4,934 SF of existing medical and commercial space, including a turnkey medical layout designed for immediate clinical functionality. In addition to the established interior configuration, there is an open “vanilla box” area intended to provide flexibility for a customized buildout. The site also includes 4,629 SF of dedicated on-site parking.
Zoned C2-3/R5D, the property is presented as an owner-user or redevelopment opportunity with potential for mixed-use residential, commercial, retail, office, and medical development, including up to 20,000+ buildable SF. Located along Rockaway Parkway in Canarsie, the site is described as being just minutes from the Canarsie-Rockaway Parkway L train station and positioned on a high-traffic retail corridor carrying over 33,000 vehicles per day.
The property is listed with MLS approval noted and is currently vacant. No additional financial terms were provided in the listing materials.
Zoned C2-3/R5D, the property is presented as an owner-user or redevelopment opportunity with potential for mixed-use residential, commercial, retail, office, and medical development, including up to 20,000+ buildable SF. Located along Rockaway Parkway in Canarsie, the site is described as being just minutes from the Canarsie-Rockaway Parkway L train station and positioned on a high-traffic retail corridor carrying over 33,000 vehicles per day.
The property is listed with MLS approval noted and is currently vacant. No additional financial terms were provided in the listing materials.
Key Highlights
- 4,934 SF medical and commercial space with dedicated on‑site parking totaling 4,629 SF
- Zoning C2‑3/R5D allows up to 20,000+ buildable SF for mixed‑use residential/commercial retail/office/medical
- Previously operated as a medical clinic for more than 25 years with an existing medical layout
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $383.7k | $77.76 |
| − Vacancy | −$45.7k | −$9.25 |
| EGI | $338.0k | $68.51 |
| − OpEx | −$101.4k | −$20.55 |
| NOI | $236.6k | $47.95 |
4,934 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.38M
$2.96M – $3.94M
NOI $236,608 @ 7.0% cap · market cap 6.48%
Second Best
Office B
$1.76M
$1.54M – $2.05M
NOI $123,093 @ 7.0% cap · market cap 3.37%
Theoretical Best
Specialty Retail
$4.09M
$3.57M – $4.77M
NOI $285,975 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Prem C Goel ...
Physician
Ms. Marina Moore
Health Care Facility
Diabetes and Footcare Center
Medical Clinic
Dr. Sumit S ...
Physician
Menon Rakesh MD
Pediatrician
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FAQs
What type of property is this?
Medical center - Turnkey medical space with dedicated on-site parking and an additional open area for flexible buildout.
Where is this medical center located?
The property is located at 1340 Rockaway Parkway Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: 4,934 SF medical and commercial space with dedicated on‑site parking totaling 4,629 SF; Zoning C2‑3/R5D allows up to 20,000+ buildable SF for mixed‑use residential/commercial retail/office/medical; Previously operated as a medical clinic for more than 25 years with an existing medical layout
