Current Use by Public Records
- Retail properties & Spaces
Property Details for 1759 Rockaway Pkwy
- Property type
- Retail properties & Spaces
- Property subtype
- Office Spaces
Description
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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.8952
- Latitude
- 40.639
