6
Map
$288,000
●
Land -
For Sale
764 Shepherd Avenue
New York, NY 11208
Studio
0 Bath
$1,485
Est. Monthly
About This Property
Discover a prime development opportunity at 764 Shepherd Avenue in
the heart of East New York, Brooklyn. Situated on a 20x100 lot
totaling 2,000 square feet, this vacant parcel presents exceptional
potential for investors, builders, and developers looking to
capitalize on one of Brooklyn's evolving neighborhoods (R5 Zoning).
Conveniently located near major transportation options, including
the B15 and B20 bus lines as well as the 2, 3, and 4 subway trains,
the property offers easy access throughout Brooklyn, Queens, and
Manhattan. Residents will also enjoy close proximity to the popular
Gateway Center, featuring a variety of retail stores, restaurants,
and everyday conveniences. Whether you're looking to build now or
secure land for future development, 764 Shepherd Avenue offers a
rare opportunity to invest in a well-connected and growing Brooklyn
location.
Unit Size
-
Days on Market
103 days
Land Size
0.04 acres
Price per sqft
-
Property Type
Land
Property Taxes
$70
HOA Dues
-
Year Built
-
Listed By
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 4 months ago (OneKey MLS #KEY1014541)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 16, 2026 | Listed by Mitra Hakimi Realty Group LLC | $288,000 | |
| Listed by Mitra Hakimi Realty Group LLC | |||
| Jun 1, 2025 | No longer available | - | |
| No longer available | |||
| Feb 1, 2025 | Price Decreased |
$248,000
↓ $30K
(10.8%) | |
| Price Decreased | |||
| May 14, 2024 | Listed by Mitra Hakimi Realty Group LLC | $278,000 | |
| Listed by Mitra Hakimi Realty Group LLC | |||
| | |||
|
Welcome to an exciting investment opportunity at 764 Shepherd Ave in East New York, Brooklyn. This prime piece of land, boasting a 20X100 lot, is now available for sale. With a R5 zoning and remarkably low annual taxes of only $799, this property provides a financially advantageous prospect. Strategically located, the property is in proximity to essential transportation options, including B15, B20, 2, 3, and 4 trains, ensuring easy connectivity to various parts of the city. Additionally, its closeness to the Gateway Shopping Center enhances the property's appeal, providing convenient access to shopping and amenities. This land is an ideal choice for investors seeking to capitalize on the potential for development. Don't miss out on the opportunity to turn this well-planned project into a lucrative reality in the vibrant neighborhood of East New York.
| |||
Property Highlights
Exterior Details
Building Area Units: Square Feet
Lot Size Area: 2000
Lot Size Units: Square Feet
Lot Size Acres: 0.04
Lot Size Square Feet: 2000
Lot Size Dimensions: 20x100
Financial Details
Tax Annual Amount: $843
Utilities Details
Sewer : None
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
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HOA + Taxes
About Eastern Brooklyn
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Last Updated: 4 months ago
Data Source: OneKey MLS
Data Source: OneKey MLS
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017