402 Rockaway Ave - 402 Rockaway Ave, Brooklyn, NY 11212

Prime Development Opportunity: 10,000 Sq Ft Double Lot in C4-3/R6 Zoning Discover an exceptional investment and development opportunity in one of Brooklyn's up-and-coming neighborhoods. 10,000 square foot parking lot, strategically situated in a prime area, is ready for development under C4-3 and R6 zoning regulations. With a 5.5% cap rate, this property promises both immediate returns and significant long-term value. Key Features: Location: Positioned in a vibrant commercial and residential district, this property offers unparalleled access to major thoroughfares, public transportation, and a host of amenities. The prime location ensures high visibility and foot traffic, making it ideal for a variety of uses. Zoning: The C4-3/R6 zoning allows for a flexible mix of commercial and residential developments. Whether you envision a mixed-use building with retail on the ground floor and residential units above, or a purely residential complex, the zoning provides ample possibilities for maximizing the property's potential. Development Potential: With 10,000 square feet of space, the property offers significant development opportunities. The combined zoning regulations allow for a higher Floor Area Ratio (FAR), enabling the construction of a sizable building that leverages both commercial and residential uses. Income Potential: Currently functioning as a parking lot, the property generates a steady income, reflected in its attractive 5.5% cap rate. As a future development site, it holds the promise of substantially increased returns, capitalizing on the area's robust demand for both retail and residential spaces. Investment Highlights: High Visibility and Foot Traffic: Located in a bustling area with strong commercial and residential demand. Flexible Zoning: C4-3 and R6 zoning allows for diverse development possibilities. Steady Income: Generates consistent revenue with a 5.5% cap rate. Development Ready: Ideal for mixed-use development, maximizing both commercial and residential potential. This is a rare opportunity to acquire a prime development site in a highly desirable location. Whether you are a developer seeking your next project or an investor looking for a property with both immediate and long-term value, this 10,000 square foot double lot offers the perfect canvas. For more details or to schedule a viewing, please contact