Open-Plan Retail
New
For Sale
$960,000
390 Kings Hwy C1, Brooklyn, NY 11223
Commercial condominium with adaptable space, HVAC, sprinklers, elevator access, and visibility along Kings Highway.
Property Size3,313 SF
Price / SF$290.91
Days on Market3
Property Features for 390 Kings Hwy C1
General Information
Standard status
Active
Size
3,313 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Public Transit
Yes
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$46,000
Amenities
HVAC
elevator access
Building Details
Building Size
3,313 SF
Year Built
2009
Listing Agency:
Trademarko Realty Inc
(718) 710-8170
Listed By:
Marek Sobolewski · License #10311207231
(718) 710-8170
Source:
Elliman
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 16 at 5:40AM
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 Trademarko Realty Inc
Investment Insights
Based on property information with market context.
This retail condominium contains approximately 3,300 square feet in an open-concept configuration that can accommodate retail, office, or other commercial use. The space has 8–10 ft. ceilings, HVAC, a sprinkler system, and elevator access. Constructed in 2009, the unit offers a practical combination of flexible interior planning and building infrastructure.
The property is located at 390 Kings Hwy C1 in Brooklyn’s Gravesend area, near a high-visibility intersection on Kings Highway. The surrounding corridor is described as having substantial pedestrian and vehicular activity. WalkScore is 79, BikeScore is 80, and TransitScore is 90, reflecting access by foot, bicycle, and public transportation.
The property is located at 390 Kings Hwy C1 in Brooklyn’s Gravesend area, near a high-visibility intersection on Kings Highway. The surrounding corridor is described as having substantial pedestrian and vehicular activity. WalkScore is 79, BikeScore is 80, and TransitScore is 90, reflecting access by foot, bicycle, and public transportation.
Key Highlights
- Approximately 3,300 sq. ft. retail condominium at 390 Kings Hwy C1
- Open‑concept interior supports retail, office, or commercial configurations
- 8–10 ft. ceilings with HVAC and sprinkler system
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
$82,328
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
8.58%
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%
$1,646,560
$1.6M
Cap Rate 7%
$1,176,114
$1.2M
Cap Rate 9%
$914,756
$914.8K
Market Conditions
NOI Build-Up for 3,300 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
$142.6K $43.20/SF
− Vacancy
−$32.8K −$9.94/SF
EGI
$109.8K $33.26/SF
− OpEx
−$27.4K −$8.32/SF
NOI
$82.3K $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%
$1,646,560
Cap Rate 7%
$1,176,114
Cap Rate 9%
$914,756
Alternative Uses
Best Use
Retail
$2.26M
$1.98M – $2.64M
NOI $158,250 @ 7.0% cap · market cap 16.48%
Second Best
Office B
$1.18M
$1.03M – $1.37M
NOI $82,328 @ 7.0% cap · market cap 8.58%
Theoretical Best
Specialty Retail
$2.73M
$2.39M – $3.19M
NOI $191,268 @ 7.0% cap · market cap 19.92%
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 - Commercial condominium with adaptable space, HVAC, sprinklers, elevator access, and visibility along Kings Highway.
Where is this retail space located?
The property is located at 390 Kings Hwy C1 Brooklyn, NY.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: Approximately 3,300 sq. ft. retail condominium at 390 Kings Hwy C1; Open‑concept interior supports retail, office, or commercial configurations; 8–10 ft. ceilings with HVAC and sprinkler system
