5940 Myrtle Ave - Storefront Retail/Residential FOR SALE


Ridgewood, NY 11385
$3,250,000 USD
646-373-7944
5940 Myrtle Ave, Ridgewood, NY for Sale
$3,250,000 USD
Storefront Retail/Residential - FOR SALE
1/17
null | Request Cap Rate

5940 Myrtle Ave
Ridgewood, NY 11385


OVERVIEW

Prime corner building on the busiest block in Ridgewood with coveted tax class 2A Two stores and two apartments Double sidewalk frontage: 47 feet on Myrtle Avenue, 62 feet on Norman Street Total of 109 feet of wraparound visibility Fully gut-renovated in 2018 Three-story mixed-use building totaling approx. 4,398 SF Two spacious residential units: each with 4 bedrooms and 2 bathrooms Ground-floor tenants: established coffee shop and an established regional dessert franchise High foot traffic ensures consistent retail activity Retail leases include 50% real estate tax over base year + 3% annual increases Annual gross income of approximately $236,500 Turnkey, easy-to-manage asset in Ridgewood’s most desirable location Actual cap rate of 5.75%

FOR SALE DETAILS

PRICE

$3,250,000 USD

PRICE/SF

$737 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

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

0.07 AC

LAND SF

3,049 SF

ZONING

R6B

APN/PARCEL ID

03587-0027

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 Policy.