402 Rockaway AveBrooklyn, NY 11212

For Sale
Call for price

10,000sf Double Lot, High Potential

Overview

Added:
Dec 11, 2024
Days on market:
92
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.

Highlights

  • 10,000 sq ft double lot in Brooklyn, NY (11212), ideal for redevelopment.
  • C4-3/R6 zoning allows flexible mixed-use development.
  • Currently operates as a parking lot with a 5.5% cap rate.
  • High visibility location with strong foot traffic, near major thoroughfares and public transit.
  • High FAR allows for sizable building maximizing commercial and residential uses.

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.6701307
Longitude
-73.9111511
402 Rockaway Ave, Brooklyn, New York

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402 Rockaway Ave
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