Medical Office Redevelopment
1340 Rockaway Parkway, Brooklyn, NY 11236
Turnkey medical and commercial space with dedicated on-site parking and zoning for mixed-use redevelopment.
Type:Commercial
Property size:
4,934 SFPrice / SF:
$739/SF- Added:
- Nov 18, 2025
- Days on Market:
- 221
- Last Refresh:
- Jun 24 at 3:59 am
Property Features for 1340 Rockaway Parkway
General Information
- Standard status
- Active
- Size
- 4,934 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2002
Listing office A P Services Inc
Listing date Nov 18, 2025
Source Penrealty
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of A P Services Inc
HighLights
- 4,934 SF medical and commercial space built in 2002
- 4,629 SF dedicated on‑site parking
- Zoned C2‑3/R5D with mixed‑use redevelopment potential up to 20,000+ buildable SF
- Previously operated as a medical clinic for more than 25 years
- Includes existing medical layout plus an additional open “vanilla box” area for flexible customization
- Located on Rockaway Parkway’s high‑traffic retail corridor with 33,000+ vehicles per day and just minutes to the Canarsie‑Rockaway Parkway L train station
Overview
This property offers 4,934 SF of existing medical and commercial space with a turnkey, functional medical layout suited for clinical operations. In addition to the established treatment-oriented configuration, there is an open “vanilla box” area designed to support more customizable use cases. The site includes 4,629 SF of dedicated on-site parking, supporting both patient and client access.
The property is located at 1340 Rockaway Parkway in Brooklyn. The public remarks cite zoning of C2-3/R5D with potential for mixed-use development up to 20,000+ buildable SF, allowing for residential and commercial components including retail, office, and medical uses. The site is described as being just minutes from the Canarsie-Rockaway Parkway L train station and positioned along Rockaway Parkway’s high-traffic retail corridor, reported as carrying over 33,000 vehicles per day.
For an owner-user, the existing medical improvements provide immediate functionality for healthcare, wellness, or professional service operations, supported by on-site parking and transit access. For investors and developers, the zoning capacity and available flexibility of the interior space support repositioning the asset for a broader mixed-use program, subject to approvals and final permitting.
The property is located at 1340 Rockaway Parkway in Brooklyn. The public remarks cite zoning of C2-3/R5D with potential for mixed-use development up to 20,000+ buildable SF, allowing for residential and commercial components including retail, office, and medical uses. The site is described as being just minutes from the Canarsie-Rockaway Parkway L train station and positioned along Rockaway Parkway’s high-traffic retail corridor, reported as carrying over 33,000 vehicles per day.
For an owner-user, the existing medical improvements provide immediate functionality for healthcare, wellness, or professional service operations, supported by on-site parking and transit access. For investors and developers, the zoning capacity and available flexibility of the interior space support repositioning the asset for a broader mixed-use program, subject to approvals and final permitting.
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.
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
Similar Places Nearby
- Animal Medicine & Surgery Clinic — 9518 Avenue L, Brooklyn, NY 11236
- Canarsie Animal Hospital — 8423 Flatlands Ave, Brooklyn, NY 11236
- Alexander Cortes — 9518 Avenue L, Brooklyn, NY 112364811
- Chaikin Ronald DVM — 9518 Avenue L, Brooklyn, NY 11236
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.903566
- Latitude
- 40.645889
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Turnkey medical and commercial space with dedicated on-site parking and zoning for mixed-use redevelopment.
Where is this medical office space 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 built in 2002; 4,629 SF dedicated on‑site parking; Zoned C2‑3/R5D with mixed‑use redevelopment potential up to 20,000+ buildable SF
