402 Rockaway Ave Brooklyn, NY 11212
- Auto shops
- 0.11 lot acres
Current Use by Public Records
- Zipcar / Car Rental Agency / Transportation Service
- Pit Kin Parking / Parking Lot
- Mold Inspection & Testing in Manhattan / Environmental Consultant / Environmental Health Service
Property Details for 402 Rockaway Ave
- Lot size
- 0.11 lot acres
- Zone code
- C4-3
- Property type
- Auto shops
- APN
- 03499-0062
- APU
- 34990062
Description
This exceptional 10,000 square foot double lot in Brooklyn, NY (11212), presents a prime redevelopment opportunity. Situated on Rockaway Avenue in Kings County, this property boasts a highly desirable C4-3/R6 zoning designation, allowing for flexible mixed-use development. Currently operating as a parking lot, it generates a consistent income stream with a 5.5% cap rate, offering immediate returns. The location is ideal, providing high visibility and foot traffic in a vibrant commercial and residential district with easy access to major thoroughfares and public transportation. The substantial lot size and flexible zoning regulations allow for a high Floor Area Ratio (FAR), enabling the construction of a sizable building that can maximize both commercial and residential uses. This presents a unique chance to capitalize on the strong demand for both retail and residential spaces in this up-and-coming Brooklyn neighborhood. The property's potential for significant long-term value makes it an attractive investment for developers and investors alike seeking a development-ready site with immediate income and substantial future growth potential. This is a rare opportunity to acquire a prime development site in a highly desirable location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $85,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $85,000
- 6.5%
- $95,000
- 7%
- $90,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $95,000
- Geo Method
- $80,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $90,000
- Retail
- $95,000
- Mixed-Use
- $80,000
- Hospitality
- $105,000
- Educational
- $95,000
- Residential Income
- $100,000
- Energy
- $95,000
- Income-Based Land
- $105,000
- Food Service
- $100,000
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9112
- Latitude
- 40.6702
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
