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Acquired valuable domain name – want to retain and increase value but first time eCommercer

backstory: I entered my career as a web developer and now mostly do digital marketing/content creation on a contract basis with an agency. I have always wanted to start an eCommerce store but never took the plunge, and with a little bit of luck and a LOT of studying, i have an idea that i would appreciate feedback on. I feel confident about building a website and i know how to market the hell out of something, i just never had anything i was passionate about until this idea.

idea: I recently acquired a domain that is essentially (super popular neighborhood in majorcity)retail.com Let's pretend it's brooklynretail.com. After searching a bunch of different sites, it looks like it could currently sell anywhere from $1300-4000. I'd like to hold onto this domain for a few years, build up the value, and either keep it or sell it. My idea is to keep the site updated with retail related information – local stores coming and going, neighborhood events, etc., and also create a simple product, like a coffee mug that says "I <3 Brooklyn", and run targeted ads to people who live in/around this densely populated and wealthy area. I figured between blogging towards targeted keywords and having 1 or 2 physical products to sell, i could slowly build more value into this site. This would be my first eCommerce store and again the goal is to slowly build value of the domain – is this a realistic plan? I am willing to put in ~$200 hundred dollars a month for paid ads.

TLDR: I have a great domain name (basically brooklynretail.com) and i want to build an eCommerce store to increase the value of domain – i want to sell 1 or 2 physical items (like I <3 Brooklyn mugs) and mostly retain the site as a blog targeting keywords to the area and niched product.

submitted by /u/dontbother442
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