Gravesend Mixed-Use Property For
For Sale
$2,399,900
Pending
153 Kings Hwy, Brooklyn, NY 11223
Three-story mixed-use property in Gravesend with office and apartments.
Property Size3,211 SF
Lot Size0.05 Acres
Days on Market376
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
Changed: Jul 10
Last Checked: Jul 31 at 8:25PM
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.**
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,191
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
Properties on Market for Mixed-use properties in Brooklyn
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
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.**
