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    47 Rochester Ave Brooklyn, NY 11233

    Sponsored
    For Sale
    $500,000

    Prime 1,224 sq ft lot, R6B zoning

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional 1,224 square foot residential lot, located at 47 Rochester Avenue in Brooklyn, Kings County, New York (zip code 11233), presents a remarkable development opportunity. Zoned R6B, this 25-foot wide vacant lot offers a substantial 2,448 buildable square feet, allowing for the construction of a five-story apartment building. The design could accommodate five spacious floor-through apartments or ten two-bedroom units, catering to a high demand for housing in this vibrant area. The property's strategic location, just two blocks from the J and Z subway lines at Fulton Street and Van Siclen Avenue, provides convenient access to Downtown Brooklyn and the broader city. Furthermore, its proximity to Atlantic and Liberty Avenues places it within easy reach of a diverse array of shops and restaurants. This locally owned property is priced at $500,000 and represents a compelling investment for developers seeking to capitalize on the strong rental market and excellent transit connectivity of this desirable Brooklyn neighborhood. The latitude and longitude coordinates are 40.6775561, -73.9272546.

    Property Features for 47 Rochester Ave

    General Information

    Property type
    Land

    HighLights

    • $500,000 asking price for residential land.
    • 1,224 sq ft lot size in R6B zoning.
    • Local ownership in Brooklyn, NY.
    • Prime development opportunity: 2,448 buildable sq ft, potential for a five‑story apartment building.
    • Excellent location: Two blocks from J & Z trains, near shopping and dining on Atlantic and Liberty Avenues.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9272546
    Latitude
    40.6775561

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    FAQs

    What type of property is this?
    Land - Prime 1,224 sq ft lot, R6B zoning
    Where is this land located?
    The property is located at 47 Rochester Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: $500,000 asking price for residential land.; 1,224 sq ft lot size in R6B zoning.; Local ownership in Brooklyn, NY.
    Request Owner's contact information
    47 Rochester Ave Brooklyn, NY 11233
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    Brooklyn, NY 11233
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    47 Rochester Ave Brooklyn, NY 11233
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