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    282 Essex St Brooklyn, NY 11208

    Sponsored
    For Sale
    $750,000

    Two Vacant Lots, 5,227 SF, Investment Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This exceptional investment opportunity presents two contiguous vacant lots totaling 5,227 square feet, located at 282 Essex Street in the rapidly developing East New York section of Brooklyn, New York. The property, identified as a single parcel with a listed size of 2,615 square feet, is actually comprised of two lots measuring 50 feet by 104.67 feet each. This unique configuration offers significant flexibility for developers and investors seeking to capitalize on the area's growth. The land is zoned for both residential and commercial use, opening a wide array of development possibilities. The asking price for this combined parcel is $750,000. Situated in Kings County (Brooklyn), New York, with a zip code of 11208, this property boasts a prime location within a neighborhood experiencing substantial transformation. The strategic positioning and zoning flexibility make this an attractive proposition for those seeking to participate in the ongoing revitalization of East New York. The property's size and location present a compelling opportunity for a variety of projects, from residential construction to commercial ventures. This is a rare chance to acquire a significant land holding in a high-growth area of Brooklyn.

    Property Features for 282 Essex St

    General Information

    Property type
    Land

    Building Details

    Stories
    1
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings (Brooklyn)
    State
    New York
    Longitude
    -73.882782
    Latitude
    40.677185

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    FAQs

    What type of property is this?
    Land - Two Vacant Lots, 5,227 SF, Investment Opportunity
    Where is this land located?
    The property is located at 282 Essex St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $750,000.
    Request Owner's contact information
    282 Essex St Brooklyn, NY 11208
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    Brooklyn, NY 11208
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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
    282 Essex St Brooklyn, NY 11208
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