566 Onderdonk Ave - Storefront Retail/Residential FOR SALE


Ridgewood, NY 11385
$3,075,000 USD
646-373-7944
566 Onderdonk Ave, Ridgewood, NY for Sale
$3,075,000 USD
Storefront Retail/Residential - FOR SALE
1/11
null | 6.59% Cap Rate

566 Onderdonk Ave
Ridgewood, NY 11385


HIGHLIGHTS

  • DAYTIME FOOT TRAFFIC
  • EXPOSED BRICK

OVERVIEW

Corner mixed-use building in a strong residential and retail corridor Free market, income-producing asset Fully gut-renovated building Four spacious two-bedroom apartments with hardwood floors Two established commercial spaces (daycare and restaurant) Fully finished basement featuring two offices and a private bathroom 5,625 SF building (approx) First floor is ~25’x100’, second and third floor are 25’x64’ Strong in-place income: $255,954 annual gross with upside NOI: $202,597. 6.59% cap rate at asking 7.06% potential cap rate Well maintained and professionally managed Stable tenant mix Commercial tenants cover 40% of property taxes + 50% of DEP Charges Surrounded by established restaurants, cafés, and neighborhood businesses Minutes to Bushwick and Williamsburg, blocks from the L and M trains. Exceptional long-term investment opportunity in one of Queens’ most sought-after neighborhoods All boilers replaced within the last 5 years Plumbing systems upgraded within approximately the last 20 years Electrical systems upgraded within approximately the last 20 years Exterior masonry pointed within approximately the last 20 years Major capital improvements already completed Mechanically modernized with low deferred maintenance profile

FOR SALE DETAILS

PRICE

$3,075,000 USD

PRICE/SF

$2,050 USD /SF

CAP RATE

6.59%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1931

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

R6, Queens

APN/PARCEL ID

03435-0039

ASK ABOUT THIS PROPERTY

Daniel BarcelowskyEvergreen Realty & InvestmentsMore Info
646-373-7944

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Daniel BarcelowskyEvergreen Realty & InvestmentsMore Info
646-373-7944

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.