Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    192 Kings Hwy Brooklyn, NY 11223
    Back to Search
    Property profile & analytics

    192 Kings Hwy, Brooklyn, NY 11223

    View on Map
    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Remy's Treasure Island Market / Specialty Food Shop / Supermarket

    Property Details for 192 Kings Hwy

    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    192 Kings Highway presents a remarkable owner-user investment opportunity in Gravesend, Brooklyn. This high-traffic location boasts exceptional visibility, with 360 feet of total frontage and 165 feet directly on Kings Highway, offering unparalleled exposure visible up to eight blocks away. The property encompasses a substantial 28,800 square feet of additional residential floor area ratio (FAR), allowing for a total potential gross square footage of approximately 40,000. This presents incredible flexibility for development and expansion. Currently configured as a pharmacy/drug store and restaurant, the property's versatility allows for a wide range of uses. The asking price is $7,995,000. This unique property in Kings County, New York (zip code 11223), offers a rare chance to acquire a significant retail presence in a thriving Brooklyn neighborhood. Architectural consultation is recommended to fully realize the development potential of this expansive site. The property's location at 40.6055144 latitude and -73.9843243 longitude ensures easy access and high foot traffic. This is an exceptional opportunity for an investor seeking a substantial and highly visible retail property with significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9843
    Latitude
    40.6055

    Comparable in this City

    • Value Estimation by Request
      4,800 SF

      385 Avenue X

      Individual retail properties
      385 Avenue X, Brooklyn, NY 11223
      View Details
    • Value Estimation by Request
      8,000 SF

      59 Avenue U

      Restaurants
      59 Avenue U, Brooklyn, NY 11223
      View Details
    • Value Estimation by Request
      2,000 SF

      443 Kings Hwy

      Restaurants
      443 Kings Hwy, Brooklyn, NY 11223
      View Details
    • Value Estimation by Request
      6,000 SF

      116 Avenue U

      Restaurants
      116 Avenue U, Brooklyn, NY 11223
      View Details
    • Value Estimation by Request
      1,100 SF

      117 Avenue U

      Restaurants
      117 Avenue U, Brooklyn, NY 11223
      View Details
    • Value Estimation by Request
      10,000 SF

      2090 11Th St

      Individual retail properties
      2090 11Th St, Brooklyn, NY 11223
      View Details

    Similar Nearby for Sale

    • $1,899,000

      Kings Highway Commercial Unit For Sale

      Prime commercial space in a high-traffic Brooklyn corridor.
      366 Kings Hwy, Brooklyn, NY 11223
      View Details
    • New
      $1,799,000
      3,158 SF

      Prime Kings Highway Commercial Unit

      Spacious commercial unit in a high-traffic Brooklyn location.
      366 Kings Hwy, Brooklyn, NY 11223
      View Details
    • $150,000
      1,040 SF

      Brooklyn Restaurant For Sale

      Established restaurant with renovated space and equipment for sale.
      2087 Coney Island Ave, Brooklyn, NY 11223
      View Details
    • $3,999,000

      Renovated Commercial Building in Brooklyn

      Renovated 8,000 SF commercial building in a high-traffic Brooklyn location.
      222 Avenue U, Brooklyn, NY 11223
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Daycare Facility in Active Corridor

      Fully built-out daycare facility in a high-traffic Brooklyn location.
      2211 Coney Island Ave, Brooklyn, NY 11223
      View Details
    • Contact for pricing
      960 SF

      Single-Story Retail Space Available

      Retail space with frontage, walk-in fridge, and parking.
      599 Avenue Z, Brooklyn, NY 11223
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space in Gravesend Location

      Retail space for rent in high-traffic Brooklyn area.
      2455 Mcdonald Ave, Brooklyn, NY 11223
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space with Corner Frontage

      Retail space featuring high ceilings and wraparound corner frontage.
      248 Avenue X, Brooklyn, NY 11223
      View Details
    • $3,200 /Mo
      1,360 SF

      Homecrest Retail/Professional Space Available

      1400 sq ft retail/office space in a prime Brooklyn location.
      2370 Coney Island Ave, Brooklyn, NY 11223
      View Details
    • $3,500 /Mo
      1,000 SF

      Renovated Office/Storefront in Gravesend

      Modern, renovated office/storefront space in prime Brooklyn location.
      120 Avenue T, Brooklyn, NY 11223
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    192 Kings Hwy
    Brooklyn, NY 11223
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    192 Kings Hwy, Brooklyn, NY, 11223
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!