Gravesend Mixed-Use Property For
153 Kings Hwy Brooklyn, NY 11223
153 Kings Hwy, Brooklyn, NY, 11223
$2,399,900
Pending
For Sale
$2,399,900
Pending
Three-story mixed-use property in Gravesend with office and apartments.
Property Size3,211 SF
Lot Size0.05 Acres
Days on Market366
Property Features for 153 Kings Hwy
General Information
- Standard status
- Pending
- Size
- 3,211 SF
- Lot size
- 0.05 Acres
Listing agency
Exit Realty United
(516) 641-8922
Listed by
Jean M. Colasacco CBR GRI
(516) 641-8922
Source
Exprealty
Added: Jul 22, 2025 Updated: Jul 10 at 1:37PM Checked: Jul 22 at 7:19AM
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 Exit Realty United
Investment Insights
Based on property information with market context.
Built in 1931, this mixed-use property in Gravesend offers approximately 3,211 sqft of interior space on a 2,009 sqft lot. The three-story building features classic brick construction, reflecting early 20th-century architectural charm. The property includes well-proportioned rooms, high ceilings, and abundant natural light. The first floor is configured as a doctor's office with three exam rooms, an office or fourth exam room, one full bath, two half baths, and a kitchen. The second and third floors each contain a two-bedroom apartment. The second floor includes a deck. Additional attic and basement space provide storage or conversion possibilities. Mature street-tree plantings line the block, complemented by a deep yard suitable for a garden, patios, or outdoor dining. The property has frontage on Kings Highway.
Key Highlights
- Mixed‑use property with doctor's office on the first floor and two 2‑bedroom apartments on upper floors.
- Large 2,009 sqft lot with a deep yard, rare for Brooklyn, suitable for gardens, patios, or outdoor dining.
- Spacious interior (approximately 3,211 sqft) with generous, well‑proportioned rooms, high ceilings, and abundant natural light.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $211.9k | $66.00 |
| − Vacancy | −$25.4k | −$7.92 |
| EGI | $186.5k | $58.08 |
| − OpEx | −$69.9k | −$21.78 |
| NOI | $116.6k | $36.30 |
3,211 SF · lease $66.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.67M
$1.46M – $1.94M
NOI $116,559 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$1.40M
$1.23M – $1.63M
NOI $98,028 @ 7.0% cap · market cap 4.08%
Theoretical Best
Specialty Retail
$2.66M
$2.33M – $3.10M
NOI $186,110 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Women's Health & Medical ...
Physician
Women's Health & Medical ...
Physician
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FAQs
What type of property is this?
Mixed-use property - Three-story mixed-use property in Gravesend with office and apartments.
Where is this mixed-use property located?
The property is located at 153 Kings Hwy Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,399,900.
What are key features of this property?
This property features: Mixed‑use property with doctor's office on the first floor and two 2‑bedroom apartments on upper floors.; Large 2,009 sqft lot with a deep yard, rare for Brooklyn, **suitable for gardens, patios, or outdoor dining.**; **Spacious interior (approximately 3,211 sqft) with generous, well‑proportioned rooms, high ceilings, and abundant natural light.**
