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    1340 Rockaway Pkwy Brooklyn, NY 11236
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    1340 Rockaway Pkwy Brooklyn, NY 11236

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    • Office buildings
    • 4,986 SF
    • 0.22 lot acres
    For Sale
    $3,650,000
    View Listing →
    COMMERCIAL - Brooklyn, NY For Sale
    $3,650,000
    4,934 SF

    COMMERCIAL - Brooklyn, NY

    Mixed-use commercial space with parking in Canarsie, Brooklyn.

    1340 Rockaway Pkwy, Brooklyn, NY 11236
    View Listing
    Property ID
    US63-1207935
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Prem C Goel Md / Physician
    • Ms. Marina Moore / Health Care Facility
    • Diabetes and Footcare Center / Medical Clinic
    • Dr. Sumit S Saraf MD / Physician
    • Menon Rakesh MD / Pediatrician / Medical Clinic

    Property Details for 1340 Rockaway Pkwy

    Year built
    1930
    Lot size
    0.22 lot acres
    Property size
    4,986 SF
    Zone code
    R5D
    Property type
    Office buildings
    APN
    08146-0060
    APU
    81460060

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9047
    Latitude
    40.6468
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $24,042
    $107,550
    $225,450
    $333,000
    -
    $239,000
    $501,000
    $740,000

    Comparable in this City

    • Value Estimation
      $725,000
      2,340 SF

      8802 Flatlands Ave

      OFFICE BUILDING (MULTI-STORY) • 2,340 SF
      8802 Flatlands Ave, Brooklyn, NY 11236-3612
      View Details
    • Value Estimation
      $925,000
      3,350 SF

      1932 Rockaway Pkwy

      PROFESSIONAL BUILDING • 3,350 SF
      1932 Rockaway Pkwy, Brooklyn, NY 11236-5506
      View Details
    • Value Estimation
      $960,000
      3,230 SF

      1687 Ralph Ave, Unit 1695

      PROFESSIONAL BUILDING • 3,230 SF
      1687 Ralph Ave, Brooklyn, NY 11236-3319
      View Details
    • Value Estimation
      $840,000
      2,848 SF

      9613 Flatlands Ave

      OFFICE BUILDING (MULTI-STORY) • 2,848 SF
      9613 Flatlands Ave, Brooklyn, NY 11236-3711
      View Details
    • Value Estimation by Request
      1,044 SF

      1995 Rockaway Pkwy

      OFFICE BUILDING (MULTI-STORY) • 1,044 SF
      1995 Rockaway Pkwy, Brooklyn, NY 11236-5505
      View Details
    • Value Estimation
      $1,160,000
      3,945 SF

      1509 Rockaway Pkwy

      PROFESSIONAL BUILDING • 3,945 SF
      1509 Rockaway Pkwy, Brooklyn, NY 11236-4001
      View Details

    Similar Nearby for Sale

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      576 SF

      Canarsie Professional Building For Sale

      Professional building in prime Canarsie location, ideal for investment.
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      Brooklyn Commercial Building on Avenue L

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    • New
      $3,650,000
      4,934 SF

      Brooklyn Commercial Space with Parking

      Mixed-use commercial space with parking in Canarsie, Brooklyn.
      1340 Rockaway Pkwy, Brooklyn, NY 11236
      View Details
    • Contact for pricing
      3,892 SF

      Mixed-Use Medical & Residential Investment

      Brooklyn mixed-use property with medical office, residential units, and parking.
      532 E 78Th St, Brooklyn, NY 11236
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      58,063 SF

      Brooklyn Warehouse with Office Space

      58,063 SF warehouse with office space for sale.
      8801 Foster Ave, Brooklyn, NY 11236
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    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      New Construction Office Building

      New construction office building with day care approval for lease.
      9306 Flatlands Ave, Brooklyn, NY 11236
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    • New
      $13,750 /Mo

      Brooklyn Commercial Space For Lease

      3,000 SF ground-floor space ideal for medical or healthcare tenants.
      9413 Flatlands Ave, Brooklyn, NY 11236
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    • $1,700 /Mo
      600 SF

      Renovated Office Space in Brooklyn

      600 SF renovated office space in Canarsie, Brooklyn.
      9325 Ditmas Ave, Brooklyn, NY 11236
      View Details
    • $45 SF/Yr

      Flatlands Ave Retail/Office Space

      Retail/office space in high-traffic Brooklyn corridor with signage potential.
      9215 Flatlands Ave, Brooklyn, NY 11236
      View Details
    • $1,700 /Mo
      600 SF

      Renovated Office Space in Canarsie

      600 SF renovated office space in busy Canarsie area.
      9313-9325 Ditmas Ave, Brooklyn, NY 11236
      View Details
    • Contact for pricing
      1,000 SF

      Brooklyn Office Space Available

      Office space available for rent in Brooklyn, NY.
      1547-1563 Ralph Ave, Brooklyn, NY 11236
      View Details
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    Brooklyn, NY 11236
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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