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Urban-High Street

Affordable Housing Development Site| Potential 127000 Buildable SQ. FT.

800 Rockaway Ave, Brooklyn, NY 11212

Listing Price: $9,266,000

Cap Rate
1.62%
Gross SF
9,612
Rentable SF
9,612
Price/Gross SF
$964.00
Lot Size
0.61 acres
Year Built
1960

Investment Overview

Marcus & Millichap is pleased to offer for sale a one-story supermarket with a promising redevelopment opportunity located at 800 Rockaway Avenue, Brooklyn, NY. (Block & Lots: 03602-0007). The total square footage is 9,612 SqFt with lot dimensions of 200 feet x 200 feet totaling 26,566 SqFt. Zoned for R6, C2-3, with a potential of 127,000 Buildable Square feet the property offers an investor several value-add opportunities. The subject property just steps away from B60 Bus Stop and Rockaway Ave Subway State, serving a 45-minute train ride from Lower Manhattan with over 3,365 riders Daily. This is an opportunity to invest in a dynamic section of Brooklyn.

Investment Highlights

  • Subject Asset Features an Existing Single-Story Building with 9,612 Square-Feet of Gross Leasable Area on a 0.22-Acre Lot with 50 Surface Parking Spaces
  • Has 26,566 Square-Foot Lot Sees Frontage on Rockaway Avenue, Chester Street, and Newport Street | Lot Dimensions of 200 Feet by 200 Feet
  • Current NN Lease Expires 2026, to be Delivered Vacant, Offering a Major Redevelopment Opportunity in Dense Infill Market
  • An R6, C2-3 Property Zoning Allows for Commercial and Residential Use, Including Restaurants, Services, and Retail with up to 128,000 Buildable Square Feet
  • HIGH TRAFFIC LOCATION | Robust Traffic Counts on Rockaway Avenue (16,756 VPD) and Newport Street (2,800 VPD), Located Six Miles Off of I-278 (157,000 VPD) (Source: CoStar, NYDOT 2019)
  • SIMILAR INVENTORY NEARBY | Subject is Adjacent to 449 Chester Street Apartments, a 175-Unit Housing Complex Currently Under Construction Expected in 2022, Part of the $179M Marcus Garvey Expansion (Building F) | Over 20 Residential Complexes within 0.25 Miles of Subject
  • COMMUTER CONVENIENCE | Subject is Situated Just One Block from the Rockaway Avenue Subway Station, Serving Approximately 7,450 Daily Riders on the 2, 3, and 4 Trains | Manhattan is a 40-Minute Train Ride or 20-Minute Taxi Ride North of the Subject

Exclusively Listed By

Urban-High Street

Affordable Housing Development Site| Potential 127000 Buildable SQ. FT.

Listing Price: $9,266,000

Cap Rate
1.62%
Gross SF
9,612
Rentable SF
9,612
Price/Gross SF
$964.00
Lot Size
0.61 acres
Year Built
1960

Investment Highlights

  • Subject Asset Features an Existing Single-Story Building with 9,612 Square-Feet of Gross Leasable Area on a 0.22-Acre Lot with 50 Surface Parking Spaces
  • Has 26,566 Square-Foot Lot Sees Frontage on Rockaway Avenue, Chester Street, and Newport Street | Lot Dimensions of 200 Feet by 200 Feet
  • Current NN Lease Expires 2026, to be Delivered Vacant, Offering a Major Redevelopment Opportunity in Dense Infill Market
  • An R6, C2-3 Property Zoning Allows for Commercial and Residential Use, Including Restaurants, Services, and Retail with up to 128,000 Buildable Square Feet
  • HIGH TRAFFIC LOCATION | Robust Traffic Counts on Rockaway Avenue (16,756 VPD) and Newport Street (2,800 VPD), Located Six Miles Off of I-278 (157,000 VPD) (Source: CoStar, NYDOT 2019)
  • SIMILAR INVENTORY NEARBY | Subject is Adjacent to 449 Chester Street Apartments, a 175-Unit Housing Complex Currently Under Construction Expected in 2022, Part of the $179M Marcus Garvey Expansion (Building F) | Over 20 Residential Complexes within 0.25 Miles of Subject
  • COMMUTER CONVENIENCE | Subject is Situated Just One Block from the Rockaway Avenue Subway Station, Serving Approximately 7,450 Daily Riders on the 2, 3, and 4 Trains | Manhattan is a 40-Minute Train Ride or 20-Minute Taxi Ride North of the Subject

Investment Overview

Marcus & Millichap is pleased to offer for sale a one-story supermarket with a promising redevelopment opportunity located at 800 Rockaway Avenue, Brooklyn, NY. (Block & Lots: 03602-0007). The total square footage is 9,612 SqFt with lot dimensions of 200 feet x 200 feet totaling 26,566 SqFt. Zoned for R6, C2-3, with a potential of 127,000 Buildable Square feet the property offers an investor several value-add opportunities. The subject property just steps away from B60 Bus Stop and Rockaway Ave Subway State, serving a 45-minute train ride from Lower Manhattan with over 3,365 riders Daily. This is an opportunity to invest in a dynamic section of Brooklyn.

Exclusively Listed By

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