Commercial Condo with Elevator
For Sale
$1,050,000
390 Kings Highway, Brooklyn, NY 11223
COMMERCIAL - Brooklyn, NY
Property Size3,200 SF
Lot Size0.15 Acres
Price / SF$328.13
Days on Market222
Property Features for 390 Kings Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2-3/R7A
Subdivision
Gravesend
Standard status
Active
Size
3,200 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
36493
Amenities
high ceilings
HVAC
elevator
Building Details
Year built
2009
Number of units
1
Building materials
Block, Brick
Listing Agency:
A P Services Inc
(347) 515-8272
Listed By:
Aliaksei A. (Alex) Palaukou · License #AP8095
(347) 515-8272
Added: Dec 27, 2025
Changed: Aug 4
Last Checked: Aug 6 at 10:06PM
MLS# 498032
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 for-sale commercial condo at 390 Kings Highway offers an open-concept interior layout with approximately 3,200 square feet of versatile space. The unit is described as having high ceilings and includes HVAC, a sprinkler system, and elevator access. It is positioned as adaptable for retail, office, or store use under the property’s commercial condo structure.
The property is located on Kings Highway at a highly visible intersection, with heavy foot and vehicular traffic noted in the remarks. Zoning is listed as C2-3/R7A. The listing also states low monthly maintenance of $655.
For tenant or owner-user considerations, the combination of open space, high ceilings, and building amenities like HVAC and sprinkler coverage supports a range of retail or office configurations. For buyers evaluating a flexible condo format, the elevator and straightforward, open layout can simplify day-to-day access and fit-out planning. The property’s traffic-focused corner location may be particularly relevant for businesses that benefit from walk-in visibility and frequent passing vehicles.
The property is located on Kings Highway at a highly visible intersection, with heavy foot and vehicular traffic noted in the remarks. Zoning is listed as C2-3/R7A. The listing also states low monthly maintenance of $655.
For tenant or owner-user considerations, the combination of open space, high ceilings, and building amenities like HVAC and sprinkler coverage supports a range of retail or office configurations. For buyers evaluating a flexible condo format, the elevator and straightforward, open layout can simplify day-to-day access and fit-out planning. The property’s traffic-focused corner location may be particularly relevant for businesses that benefit from walk-in visibility and frequent passing vehicles.
Key Highlights
- Prime location on Kings Highway in Gravesend with high visibility and heavy traffic.
- Versatile 3,200 sq. ft. open‑concept space suitable for retail, office, or store use.
- Low monthly maintenance fee of $655.
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
$79,834
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
7.60%
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%
$1,596,680
$1.6M
Cap Rate 7%
$1,140,486
$1.1M
Cap Rate 9%
$887,044
$887.0K
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
$138.2K $43.20/SF
− Vacancy
−$31.8K −$9.94/SF
EGI
$106.4K $33.26/SF
− OpEx
−$26.6K −$8.32/SF
NOI
$79.8K $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%
$1,596,680
Cap Rate 7%
$1,140,486
Cap Rate 9%
$887,044
Alternative Uses
Best Use
Retail
$2.19M
$1.92M – $2.56M
NOI $153,455 @ 7.0% cap · market cap 14.61%
Second Best
Office B
$1.14M
$997.9K – $1.33M
NOI $79,834 @ 7.0% cap · market cap 7.60%
Theoretical Best
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,472 @ 7.0% cap · market cap 17.66%
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-concept retail or office space with HVAC, sprinkler system, and elevator in a busy intersection setting.
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 $1,050,000.
What are key features of this property?
This property features: Prime location on Kings Highway in Gravesend with high visibility and heavy traffic.; Versatile 3,200 sq. ft. open‑concept space suitable for retail, office, or store use.; Low monthly maintenance fee of $655.
