Vacant 8,000 SF Ground Floor + 8,000 SF Lower Level | 1404 Rockaway Parkway | Retail Property With 75 FT of Frontage For Sale
block through retail property with parking and air rights
Marketing description
1404 Rockaway Parkway is a high-visibility, single-story commercial property offering 8,000 SF on the ground floor plus an 8,000 SF full basement. Located on a heavily trafficked block across from a municipal parking lot and surrounded by national tenants, the building will be delivered vacant, providing flexibility for an owner-user. The property benefits from a triple-net Walgreens lease running through March 2028 at $50,000 per month, allowing a buyer to use the space while still collecting rent. With a lot size of 75 × 106 square feet and a current cap rate over 10%, this asset offers strong income and operational potential.
Located along the busy Rockaway Parkway corridor in Canarsie, 1404 Rockaway Parkway benefits from strong visibility and steady foot and vehicle traffic. The area is anchored by a mix of national and local tenants including Dunkin’, Baskin-Robbins, Popeyes, McDonald’s, T-Mobile, Blink Fitness, Chase Bank, and Public Storage, along with popular neighborhood spots like Steph’s Cake Shop, Rockaway Gourmet, Fisherman’s Cove, and The Xperience Coffee House & Juice Bar. Surrounded by dense residential housing and active retail, the location offers a built-in customer base and consistent activity, making it attractive for both commercial users and long-term investors.
Single story single tenant retail building for sale on a heavy foot and car traffic block. Can be delivered vacant. There is a municipal parking lot across the street and many national tenants on the block.
Located in the Canarsie neighborhood of Brooklyn between Glenwood Rd & Smiths Ln near the Canarsie - Rockaway Parkway subway station.
Nearest Transit: L train at Canarsie - Rockaway Parkway and the B60, B82, B42, B6, B17, & B82-SBS bus stops.
Nearby tenants include Steph's Cake Shop, Dunkin', Baskin-Robbins, Popeyes Louisiana Kitchen, Rockaway Gourmet, Capital One Bank, Fisherman's Cove, McDonald's, Armando's Pizza, S&D Kids, T-Mobile, Jalapeño Brothers Market, Flowers By Bernadette, The Xperience Coffee House & Juice Bar, Bebe Fritay, Tastee Pattee, Blue Canarsie Fish, Lulucious Beauty Supply, Blink Fitness, Chase Bank, Public Storage and more!
Investment highlights
- Single-story building
- Heavy foot and car traffic block
- Municipal parking lot across the street
- Surrounded by national tenants
- Delivered: Vacant
- Full Basement 8,000 SF
- Lot Dimensions: 75 X 106
- Current CAP over 10%
- Walgreens' lease is from 4/2008 - 3/2028
- Rent is $50,000 a month triple net
- The buyer can use the building and still collect rent from Wallgreens until the lease expiration
- Ground Floor: 8,000 SF
- Lower Level: 8,000 SF
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