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    472 Lake St, Unit 38 Brooklyn, NY 11223

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    472 Lake St, Unit 38 Brooklyn, NY 11223

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    • Residential land & home lots
    • 896 SF
    For Sale
    $1,035,000
    View Listing →
    Large Gravesend Lot with Potential For Sale
    $1,035,000
    0.08 Acres

    Large Gravesend Lot with Potential

    R5 zoned lot in desirable Gravesend location.

    472 Lake Street lot: 38, Brooklyn, NY 11223
    View Listing
    Property ID
    US63-1097785
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential land & home lots

    Property Details for 472 Lake St

    Property size
    896 SF
    Property type
    Residential land & home lots

    Description

    EXTRA-LARGE 43x80 DOUBLE LOT PACKAGE DEAL(PACKAGED WITH 474 LAKE ST) R5 ZONED LOT WITH TONS OF POSSIBILITIES & POTENTIAL FOR ANY LUCKY BUYER'S FUTURE DREAM HOME- PERFECTLY SITUATED IN A SUPER-DESIRABLE, AND ULTRA-CONVENIENT GRAVESEND LOCATION... A TRULY PHENOMENAL PROPERTY FOR ANY TYPE OF BUYER- INCLUDING: BUILDERS, DEVELOPERS, INVESTORS OR END-USERS... A BEAUTIFULLY RENOVATED FROM TOP TO BOTTOM FULLY DETACHED SINGLE FAMILY HOME CURRENTLY SITS ON THIS HUGE 43x80 DOUBLE LOT + A FULLY DETACHED GARAGE + AN EXTRA-WIDE PRIVATE DRIVEWAY FOR A HANDFUL OF CARS... IN ONE OF BROOKLYN'S MOST SOUGHT-AFTER NEIGHBORHOODS; THIS GRAVESEND GEM IS CLOSE TO AND SURROUNDED BY ALL FORMS OF TRANSPORTATION, SHOPPING, EXCELLENT SCHOOLS, AND HOUSES OF WORSHIP... DON'T MISS OUT ON THIS OUTSTANDING OPPORTUNITY TO OWN A PRIZED PIECE OF REAL ESTATE IN A TRULY PREMIER LOCALE...

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.975105
    Latitude
    40.59254

    Comparable in this City

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      Large Gravesend Lot with Potential

      R5 zoned lot in desirable Gravesend location.
      472 Lake St, Brooklyn, NY 11223
      View Details
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      2,000 SF

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      Prime Redevelopment Opportunity in Brooklyn

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      Brooklyn Development Site For Sale

      20,252 SF lot with residential development potential.
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    Similar Nearby for Sale

    • $1,035,000
      0.08 Acres

      Large Gravesend Lot with Potential

      R5 zoned lot in desirable Gravesend location.
      472 Lake St, Brooklyn, NY 11223
      View Details
    • $6,999,000
      0.09 Acres

      Brooklyn Lot with Large House

      Rare Brooklyn lot featuring a large house and private driveway.
      1899 E 3Rd St, Brooklyn, NY 11223
      View Details
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      2,000 SF

      Brooklyn Development Opportunity

      Expansive corner lot in Gravesend, Brooklyn, ideal for development.
      2383 Stillwell Ave, New York, NY 11223
      View Details
    • $9,500,000
      0.23 Acres

      Prime Redevelopment Opportunity in Brooklyn

      Established auto shop on a large lot, ideal for redevelopment.
      2050 Stillwell Ave, Brooklyn, NY 11223
      View Details
    • Contact for pricing

      Brooklyn Development Site For Sale

      20,252 SF lot with residential development potential.
      2390 Mcdonald Ave, Brooklyn, NY 11223
      View Details

    Similar Nearby for Lease

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      650 SF

      Renovated Office Space in Brooklyn

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      1400 sq ft retail/office space in a prime Brooklyn location.
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      Retail Space Available For Lease

      Retail space available for lease in Brooklyn, New York.
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      9,500 SF

      Brooklyn Warehouse with Class A Office

      9,500 SF Brooklyn warehouse with office space for lease.
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    • $4,200 /Mo
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      Single-Story Retail Space Available

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      1,000 SF

      Renovated Office/Storefront in Gravesend

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    View Listing
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    Brooklyn, NY 11223
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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    472 Lake St, Brooklyn, NY, 11223

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