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.

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