Industrial Warehouse with
For Sale
Contact for pricing
770 Rockaway Parkway, Brooklyn, NY 11236
Vacant industrial warehouse offers 14-foot clear height, drive-in loading, renovated office space, and full HVAC.
Property Size8,800 SF
Price / SF$326.70
Days on Market61
Property Features for 770 Rockaway Parkway
General Information
Standard status
Active
Size
8,800 SF
Property subtype
Industrial
Zoning
M1-1
Investment Type
Owner/User
Building Details
Year Built
1957
Buildings
1
Stories
1
Units
2
Listing Agency:
Findor
Listed By:
Rob Finnerty · License #NY 10351219508
Source:
Crexi
Added: Jul 9
Changed: Sep 6
Last Checked: Sep 7 at 5:34AM
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 Findor
Investment Insights
Based on property information with market context.
Delivered vacant at closing, this industrial property includes approximately 8,800 SF of warehouse space and 4,000 SF of on-site parking and storage. The facility has 14-foot clear ceilings, three drive-in loading doors, and 400-amp three-phase electrical service. Full HVAC is in place, along with renovated office space and an existing Auto Certificate of Occupancy.
The site includes a demapped portion of Rockaway Parkway, providing approximately 12,400 SF of total site control. The configuration is designed to support truck maneuverability and outdoor storage use. Access is located just minutes from the Belt Parkway and major Brooklyn transportation routes, with the property positioned on a quiet dead-end street.
The property is offered for sale with M1-1 industrial zoning, supporting industrial use within the existing configuration.
The site includes a demapped portion of Rockaway Parkway, providing approximately 12,400 SF of total site control. The configuration is designed to support truck maneuverability and outdoor storage use. Access is located just minutes from the Belt Parkway and major Brooklyn transportation routes, with the property positioned on a quiet dead-end street.
The property is offered for sale with M1-1 industrial zoning, supporting industrial use within the existing configuration.
Key Highlights
- Vacant industrial warehouse delivered vacant at closing for immediate occupancy or investment use
- Approximately 8,800 SF warehouse with 14‑foot clear ceilings and three drive‑in loading doors
- On‑site parking/storage of approximately 4,000 SF and outdoor storage potential from demapped Rockaway Parkway portion
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
$219,542
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
7.64%
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%
$4,390,840
$4.4M
Cap Rate 7%
$3,136,314
$3.1M
Cap Rate 9%
$2,439,356
$2.4M
Market Conditions
NOI Build-Up for 8,800 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
$380.2K $43.20/SF
− Vacancy
−$87.4K −$9.94/SF
EGI
$292.7K $33.26/SF
− OpEx
−$73.2K −$8.32/SF
NOI
$219.5K $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%
$4,390,840
Cap Rate 7%
$3,136,314
Cap Rate 9%
$2,439,356
Alternative Uses
Best Use
Office B
$3.14M
$2.74M – $3.66M
NOI $219,542 @ 7.0% cap · market cap 7.64%
Second Best
Flex RnD
$3.02M
$2.64M – $3.52M
NOI $211,411 @ 7.0% cap · market cap 7.35%
Theoretical Best
Specialty Retail
$7.29M
$6.38M – $8.50M
NOI $510,048 @ 7.0% cap · market cap 17.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,640
Businesses Nearby
Under-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Stop and Stor Canarsie / Georgetown — 1414 Ralph Ave, Brooklyn, NY 11236
- Nearby Storage Units — 1418 rockaway pkwy, brooklyn, ny 11236
- Nearby Storage Units - Brooklyn, NY — 1418 rockaway pkwy, brooklyn, ny 11236
- Preferred Self Storage Unit — 1392 rockaway pkwy, brooklyn, ny 11236
- Custom Crating Services Company, Custom Wooden Crates and Wooden Boxes — 888 E 96th St, Brooklyn, NY 11236
Frequently Asked Questions
What type of property is this?
Warehouse - Vacant industrial warehouse offers 14-foot clear height, drive-in loading, renovated office space, and full HVAC.
Where is this warehouse located?
The property is located at 770 Rockaway Parkway Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,875,000.
What are key features of this property?
This property features: Vacant industrial warehouse delivered vacant at closing for immediate occupancy or investment use; Approximately 8,800 SF warehouse with 14‑foot clear ceilings and three drive‑in loading doors; On‑site parking/storage of approximately 4,000 SF and outdoor storage potential from demapped Rockaway Parkway portion
