Mixed-Use Retail and Office
For Sale
$1,680,000
366 Kings Hwy 1, Brooklyn, NY 11223
Spacious interior layout with open lobby, showroom, auditorium, and 11 rooms plus two entrances and bathrooms.
Property Size3,158 SF
Price / SF$525
Days on Market46
Property Features for 366 Kings Hwy 1
General Information
Standard status
Active
Size
3,158 SF
Property subtype
Commercial
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$31,248
Building Details
Building Size
3,158 SF
Year Built
2012
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Yuhuan (Karen) Feng
(718) 612-3088
Source:
Elliman
Added: Jul 8
Changed: Aug 14
Last Checked: Aug 21 at 1:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This property offers a spacious interior layout suitable for retail or office use, featuring 11 rooms, an auditorium, a large showroom, and an open lobby entrance. The configuration combines open-concept space with private rooms, supported by two bathrooms and a dedicated storage room. The building includes central air conditioning and heating, along with a comprehensive sprinkler system, and it has two separate entrances and exits.
The asset is positioned on a busy commercial corridor with expansive frontage and consistent visibility. It is described as minutes from the F and N subway lines and the B82 bus stop, with the Belt Parkway nearby.
Lease terms are stated as negotiable, and the property is presented as a flexible space for a range of commercial operations, including professional offices, medical facilities, tutoring and fine arts centers, retail stores, and community organizations.
The asset is positioned on a busy commercial corridor with expansive frontage and consistent visibility. It is described as minutes from the F and N subway lines and the B82 bus stop, with the Belt Parkway nearby.
Lease terms are stated as negotiable, and the property is presented as a flexible space for a range of commercial operations, including professional offices, medical facilities, tutoring and fine arts centers, retail stores, and community organizations.
Key Highlights
- 2012‑built commercial property with 3,200 SF interior space and 11 rooms
- Includes a large showroom, open lobby entrance, and an auditorium
- Versatile layout with both open‑concept space and private rooms for varied uses
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
$153,455
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
9.13%
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%
$3,069,100
$3.1M
Cap Rate 7%
$2,192,214
$2.2M
Cap Rate 9%
$1,705,056
$1.7M
Market Conditions
NOI Build-Up for 3,200 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
$248.8K $77.76/SF
− Vacancy
−$29.6K −$9.25/SF
EGI
$219.2K $68.51/SF
− OpEx
−$65.8K −$20.55/SF
NOI
$153.5K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /SF/Yr
Expense Ratio
30.00%
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%
$3,069,100
Cap Rate 7%
$2,192,214
Cap Rate 9%
$1,705,056
Alternative Uses
Best Use
Retail
$2.19M
$1.92M – $2.56M
NOI $153,455 @ 7.0% cap · market cap 9.13%
Second Best
Office B
$1.14M
$997.9K – $1.33M
NOI $79,834 @ 7.0% cap · market cap 4.75%
Theoretical Best
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,472 @ 7.0% cap · market cap 11.04%
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 - Spacious interior layout with open lobby, showroom, auditorium, and 11 rooms plus two entrances and bathrooms.
Where is this retail space located?
The property is located at 366 Kings Hwy 1 Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,680,000.
What are key features of this property?
This property features: 2012‑built commercial property with 3,200 SF interior space and 11 rooms; Includes a large showroom, open lobby entrance, and an auditorium; Versatile layout with both open‑concept space and private rooms for varied uses
