Mixed-Use Building Near Kings
For Sale
Contact for pricing
284 Kings Hwy, Brooklyn, NY 11223
Mixed-use building with retail and residential units near transportation.
Property Size6,700 SF
Price / SF$582.09
Days on Market162
Property Features for 284 Kings Hwy
General Information
Standard status
Active
Size
6,700 SF
Property subtype
Mixed Use
Zoning
R7A
Building Details
Year Built
1931
Stories
3
Listing Agency:
ProBase Real Estate
(718) 210-2727
Listed By:
Shaojie Liang · License #NY
Source:
Crexi
Added: Mar 14
Changed: Aug 15
Last Checked: Aug 21 at 7:27PM
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 ProBase Real Estate
Investment Insights
Based on property information with market context.
This mixed-use building presents an investment opportunity. The property features two stores and four residential units. One store is currently leased as a deli with 7 years remaining on the lease, with a current rent of $5,850 and a $175 rent increment every July. The other store is leased as a restaurant, with 4 years remaining on the lease, with a current rent of $4,200 and a $150 rent increment every April. All residential units are leased until September 2026. The building also includes a full finished basement. The property is located near the Kings Hwy N train station and has a size of 6,700 square feet.
Key Highlights
- Prime location: Right by the Kings Hwy N train station.
- Mixed‑use building with two stores and four residential units.
- Existing rental income from two commercial tenants with lease terms in place.
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
$321,296
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
8.24%
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%
$6,425,920
$6.4M
Cap Rate 7%
$4,589,943
$4.6M
Cap Rate 9%
$3,569,956
$3.6M
Market Conditions
NOI Build-Up for 6,700 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
$521.0K $77.76/SF
− Vacancy
−$62.0K −$9.25/SF
EGI
$459.0K $68.51/SF
− OpEx
−$137.7K −$20.55/SF
NOI
$321.3K $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%
$6,425,920
Cap Rate 7%
$4,589,943
Cap Rate 9%
$3,569,956
Alternative Uses
Best Use
Retail
$4.59M
$4.02M – $5.35M
NOI $321,296 @ 7.0% cap · market cap 8.24%
Second Best
Mixed Use
$3.47M
$3.04M – $4.05M
NOI $243,210 @ 7.0% cap · market cap 6.24%
Theoretical Best
Specialty Retail
$5.55M
$4.85M – $6.47M
NOI $388,332 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,063
Businesses Nearby
106k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 35%
Shops & Services 28%
Dining 27%
Electronics 11%
Super Foodtown
Groceries
19,340 visits/mo
0.4 miles
Key Food
Groceries
17,619 visits/mo
0.1 miles
Chase Bank
Shops & Services
16,089 visits/mo
0.5 miles
Starbucks
Dining
15,784 visits/mo
0.4 miles
Sunoco
Shops & Services
13,157 visits/mo
0.5 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with retail and residential units near transportation.
Where is this mixed-use property located?
The property is located at 284 Kings Hwy Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Prime location: Right by the Kings Hwy N train station.; Mixed‑use building with two stores and four residential units.; Existing rental income from two commercial tenants with lease terms in place.
