Retail Space with Elevator
For Sale
$960,000
390 Kings Highway, Brooklyn, NY 11223
Commercial Sale, Brooklyn, NY
Property Size3,300 SF
Lot Size0.08 Acres
Price / SF$290.91
Days on Market14
Property Features for 390 Kings Highway
General Information
Property type
Commercial Sale
Property subtype
Office
Rooms
Basement
Basement
Finished
Elementary school district
Brooklyn 21
Middle school district
Brooklyn 21
High school district
Brooklyn 21
Standard status
Active
APN
06678-1101
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
46000
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
open-concept layout
8-10 ft. ceilings
HVAC
sprinkler system
elevator access
Building Details
Year built
2009
Building materials
Block
Listing Agency:
Trademarko Realty Inc
(718) 502-5141
Listed By:
Marek Sobolewski · License #10311207231
(718) 710-8170
Added: Aug 12
Changed: Aug 19
Last Checked: Aug 25 at 9:06PM
MLS# 1038222
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial condominium offers an open interior that can be arranged for retail, office, or other commercial use. The space includes 8–10 ft. ceilings, HVAC, a sprinkler system, and elevator access. Block construction, central air, natural gas heating, and a basement provide additional physical details for evaluating the unit. Built in 2009, the property is served by public water and public sewer, with water available as a listed utility.
The property is located at 390 Kings Highway in Brooklyn’s Gravesend area, at a high-visibility intersection along a commercial corridor characterized by pedestrian and vehicular traffic. Its Kings Highway address provides direct identification within the surrounding retail environment.
The property is located at 390 Kings Highway in Brooklyn’s Gravesend area, at a high-visibility intersection along a commercial corridor characterized by pedestrian and vehicular traffic. Its Kings Highway address provides direct identification within the surrounding retail environment.
Key Highlights
- Open‑concept commercial condominium with flexible retail, office, or commercial configuration
- 8–10 ft. ceilings with HVAC, central air, and sprinkler system
- Elevator access and basement included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$82,328
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,646,560
$1.6M
Cap Rate 7%
$1,176,114
$1.2M
Cap Rate 9%
$914,756
$914.8K
Market Conditions
NOI Build-Up for 3,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$142.6K $43.20/SF
− Vacancy
−$32.8K −$9.94/SF
EGI
$109.8K $33.26/SF
− OpEx
−$27.4K −$8.32/SF
NOI
$82.3K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,646,560
Cap Rate 7%
$1,176,114
Cap Rate 9%
$914,756
Alternative Uses
Best Use
Retail
$2.26M
$1.98M – $2.64M
NOI $158,250 @ 7.0% cap · market cap 16.48%
Second Best
Office B
$1.18M
$1.03M – $1.37M
NOI $82,328 @ 7.0% cap · market cap 8.58%
Theoretical Best
Specialty Retail
$2.73M
$2.39M – $3.19M
NOI $191,268 @ 7.0% cap · market cap 19.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
3,874
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Open-plan commercial condo with flexible configuration, HVAC, sprinklers, and elevator service.
Where is this retail space located?
The property is located at 390 Kings Highway Brooklyn, NY.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: Open‑concept commercial condominium with flexible retail, office, or commercial configuration; 8–10 ft. ceilings with HVAC, central air, and sprinkler system; Elevator access and basement included
