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    1759 Rockaway Pkwy Brooklyn, NY 11236

    Sponsored
    For Sale
    $2,400,000

    High-yield multi-tenant medical office in Brooklyn.

    Property size:
    7,062 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a two-story, 7,062 square foot mixed-use building situated at 1759 Rockaway Parkway in Brooklyn, New York, 11236. The property boasts a strong financial performance, with a current annual gross income of $204,000 and expenses of $63,500, resulting in a net operating income of $140,500. This translates to a compelling 6.00% cap rate. The building is currently 100% occupied by five commercial units, including established medical tenants such as Contemporary Eye Care, Canarsie Dental, and 21st Century Dental, along with other tenants. The property features a substantial 5,618 square foot parking lot, providing ample parking for tenants and visitors. The building benefits from excellent visibility, with 38 feet of frontage on Rockaway Parkway and 115 feet on Avenue L, located within a thriving commercial corridor anchored by national retailers like Chase, Walgreens, Burger King, and True Value Hardware. Conveniently situated near the L train at the Canarsie-Rockaway Pkwy station and the Belt Parkway, this property offers unparalleled access to major transportation arteries. The property is zoned R4A and sits on a 9,665 square foot lot. The building is a Class C property with a Net Net lease structure. This is a rare opportunity to acquire a well-performing, multi-tenant medical office building in a prime Brooklyn location. The sale price is $2,400,000.

    Property Features for 1759 Rockaway Pkwy

    General Information

    Property type
    Medical offices
    Square Feet
    7,062 SF
    Class
    C

    Building Details

    Stories
    2
    Units
    5

    HighLights

    • 7,062 SF mixed‑use building on a 9,665 SF lot at 1759 Rockaway Parkway, Brooklyn, NY 11236.
    • Strong financials: $204,000 gross income, $63,500 expenses, $140,500 NOI, 6.00% cap rate.
    • 100% occupied by five commercial tenants, including medical offices.
    • 5,618 SF parking lot.
    • Excellent visibility: 38' frontage on Rockaway Parkway, 115' on Avenue L, near national retailers.
    • Prime location near L train & Belt Parkway.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.8951793
    Latitude
    40.6389621

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    FAQs

    What type of property is this?
    Medical office - High-yield multi-tenant medical office in Brooklyn.
    Where is this medical office located?
    The property is located at 1759 Rockaway Pkwy Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: 7,062 SF mixed-use building on a 9,665 SF lot at 1759 Rockaway Parkway, Brooklyn, NY 11236.; Strong financials: $204,000 gross income, $63,500 expenses, $140,500 NOI, 6.00% cap rate.; 100% occupied by five commercial tenants, including medical offices.
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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
    1759 Rockaway Pkwy Brooklyn, NY 11236
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