This is the 3972nd most frequent Russian word.
знаете
"Знаете" means "you know" (formal or plural).
Here, "знаете" is used as an introductory phrase "you know" to express opinion politely.
Знаете, мне кажется, это отличная идея.
You know, I think this is a great idea.
In this case, "знаете" is used in a formal question to inquire about someone's knowledge of a location.
Вы знаете, где находится ближайший магазин?
Do you know where the nearest store is?
Here, "знаете" indicates possession of knowledge about the procedure in a conditional statement.