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    402 Rockaway Ave Brooklyn, NY 11212

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    For Sale
    $4,500,000

    Prime location parking lot with development potential, delivered vacant.

    Lot size:
    0.23 Acres

    Property Features for 402 Rockaway Ave

    General Information

    Lot size
    0.23 Acres

    Source: Serhant Agent Kevin Oliveira

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Income Producing Brooklyn Parking Lot

    This income-producing property is situated in a prime location with substantial foot traffic and close proximity to major transportation routes, including Atlantic Avenue (0.4 mile), Jackie Robinson Parkway (1.1 miles), and Linden Boulevard (1.1 miles). Currently operating as a parking lot at maximum capacity with a 5% cap rate, the property is ideal for an owner-user looking to maintain the existing business. The open lot has no existing structures and is also well-suited for developers seeking to generate income while awaiting approvals and permits. The property will be delivered vacant and is ready for development.
    Insight Report Location Intelligence

    Current Use by Public Records

    Zipcar Car Rental Agency Pit Kin Parking Parking Lot Mold Inspection & Testing ... Environmental Health Service

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Hawk Car & Limo Service, U-Haul Neighborhood Dealer, U-Haul Neighborhood Dealer, O L Enterprise LLC, Richard Kareem Enterprise

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.910707
    Latitude
    40.668339

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    FAQs

    What type of property is this?
    Parking lot & garage - Prime location parking lot with development potential, delivered vacant.
    Where is this parking lot & garage located?
    The property is located at 402 Rockaway Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: - Income-producing parking lot business operating at maximum capacity.; - Prime location with heavy daytime foot traffic.; - Vacant lot ready for development with no existing structures.
    (646) 480-7665
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    402 Rockaway Ave Brooklyn, NY 11212
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    Brooklyn, NY 11212
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    402 Rockaway Ave Brooklyn, NY 11212
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