423 99Th StBrooklyn, NY 11209

Property Details for 423 99Th St

Year built

1978

Lot size

1.48 AC

Property size (Sq ft)

23,585 SF

Zone code

M1-1

Property type

Warehouses

APN

08132-0030

APU

81320030

Description

This exceptional 5,000-square-foot lot presents a remarkable development opportunity in the highly desirable Bay Ridge neighborhood of Brooklyn, New York. Located at 423 99th Street, this 50x100 lot is zoned to allow for the construction of two brand new two-family homes, providing significant potential for substantial returns. Alternatively, the existing fully detached home on the property could be restored and rebuilt. The property boasts a significant advantage with its own extra-wide private driveway and a three-car garage, offering eight private parking spaces. Its prime location offers unparalleled convenience, situated steps away from various transportation options, shopping centers, and an array of essential amenities. This prized piece of real estate in a sought-after Brooklyn neighborhood is priced competitively for the current market, making it an exceptional investment opportunity for builders, developers, investors, or end-users seeking to capitalize on its immense potential. The property is located in Kings County (Brooklyn), NY, zip code 11209, and is listed at $1,495,000.

• CAP approach

  CAP return

  Valuation

  6%

  $8,700,410

  6.5%

  $8,031,150

  7%

  $7,457,500

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,930,590

  Geo Method

  $4,930,590

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $4,118,330

  Mixed-Use / Specialty

  $4,103,650

  Hospitality / Lodging

  $3,010,720

  Office

  $4,079,270

  Institutional / Educational

  $4,266,140

  Residential Income

  $4,991,390

  Multifamily

  $5,986,400

  Automotive / Energy

  $3,656,700

  Parking / Income-Based Land

  $1,261,880

  Restaurant / Food Service

  $2,134,340

  Healthcare / Senior Housing

  $4,208,220

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6509

Longitude

-73.9051

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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