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    1404 Rockaway Pkwy Brooklyn, NY 11236

    For Sale
    $5,800,000

    16,000 SF Vacant Retail Building

    Property size:
    16,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 16,000 square foot, single-story retail building is available for sale in Brooklyn's Canarsie neighborhood. Located on a high-traffic block with ample parking across the street, this property boasts a prime location near the Canarsie-Rockaway Parkway subway station (L train) and numerous bus lines. The building is currently vacant and offers significant potential for a variety of retail uses. Surrounded by established national tenants including Dunkin', McDonald's, Chase Bank, and many others, this property benefits from strong foot and car traffic. The building features a full basement, adding to its versatility. The lot dimensions are 75 x 106 feet, and the property is zoned R5-D/C1-3. This presents a unique opportunity to acquire a substantial retail space in a thriving Brooklyn community. The property's current capitalization rate is 8.5%, based on a previous lease of $50,000 per month triple net. The building's ground floor encompasses 8,000 square feet, with an additional 8,000 square feet in the lower level. This presents a rare opportunity to own a significant retail asset in a high-demand area.

    Property Features for 1404 Rockaway Pkwy

    General Information

    Property type
    Retail properties
    Square Feet
    16,000 SF

    Building Details

    Stories
    1
    Units
    1

    HighLights

    • Single‑story retail building for sale.
    • Single‑tenant occupancy.
    • High‑traffic location with strong pedestrian and vehicular counts.
    • Abundant parking available via municipal lot across the street.
    • Excellent location amongst national retailers.
    • Vacant possession available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Phillip Truong Pharmacy Western Union Money Transfer Service Ezinne Igwegbe Pharmacy Kettly Benjamin Pharmacy Dollar Deals Discount Store

    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
    -73.9031434
    Latitude
    40.6455111

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    FAQs

    What type of property is this?
    Retail property - 16,000 SF Vacant Retail Building
    Where is this retail property located?
    The property is located at 1404 Rockaway Pkwy Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $5,800,000.
    What are key features of this property?
    This property features: Single-story retail building for sale.; Single-tenant occupancy.; High-traffic location with strong pedestrian and vehicular counts.
    Request Owner's contact information
    1404 Rockaway Pkwy Brooklyn, NY 11236
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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
    1404 Rockaway Pkwy Brooklyn, NY 11236
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