Canarsie Professional Building For
For Sale
Contact for pricing
1983 Rockaway Parkway, Brooklyn, NY 11236
Professional building in prime Canarsie location, ideal for investment.
Property Size576 SF
Lot Size0.07 Acres
Price / SF$781.25
Days on Market860
Property Features for 1983 Rockaway Parkway
General Information
Standard status
Active
Size
576 SF
Lot size
0.07 Acres
Property subtype
Office
Building Details
Stories
1
Units
1
Listing Agency:
Top Nest Properties
(646) 828-6378
Listed By:
Yan Byshevsky · License #New York
Source:
Crexi
Added: Apr 17, 2024
Changed: Aug 15
Last Checked: Aug 23 at 12:50PM
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 Top Nest Properties
Investment Insights
Based on property information with market context.
Located on Rockaway Parkway in Canarsie, Brooklyn, this detached professional building is available for sale. Situated on a 26-foot by 120-foot lot with R4 zoning, the building offers close to 1,000 square feet of space and has been well maintained. The property also includes a basement that can be used for additional storage. With 576 square feet, this office space is an ideal investment or space for a physician to practice. Parking spaces can be rented for additional upside. The seller prefers offers with a leaseback option and is willing to pay monthly rent.
Key Highlights
- Prime Canarsie location on Rockaway Parkway.
- R4 zoning offers potential development opportunities.
- Close to 1,000 sq ft professional building.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,370
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$287,400
$287.4K
Cap Rate 7%
$205,286
$205.3K
Cap Rate 9%
$159,667
$159.7K
Market Conditions
NOI Build-Up for 576 SF
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.
Gross rent
$24.9K $43.20/SF
− Vacancy
−$5.7K −$9.94/SF
EGI
$19.2K $33.26/SF
− OpEx
−$4.8K −$8.32/SF
NOI
$14.4K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$287,400
Cap Rate 7%
$205,286
Cap Rate 9%
$159,667
Alternative Uses
Best Use
Office B
$205.3K
$179.6K – $239.5K
NOI $14,370 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$476.9K
$417.3K – $556.4K
NOI $33,385 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,065
Businesses Nearby
Explore this area
Business Placement
Demographics for 11236, NY
100,687
Population
37,002
Households
2.7
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
3.6 sq mi
ZIP Area
27,969
Density / Sq Mi
$82,813
Median Household Income
$50,244
Median Earnings
$1,637
Median Rent
$710,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Professional building in prime Canarsie location, ideal for investment.
Where is this office building located?
The property is located at 1983 Rockaway Parkway Brooklyn, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Prime Canarsie location on Rockaway Parkway.; R4 zoning offers potential development opportunities.; Close to 1,000 sq ft professional building.
