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1814 Putnam Ave 5,000 SF Retail Building Ridgewood, NY 11385 $2,800,000 ($560/SF)
Investment Highlights
- Heavy day time foot traffic.
- Open plan with exposal brick walls.
- Lots of nature light
Executive Summary
Excellent investment opportunity in the heart of Ridgewood! 18-14/16 Putnam Avenue is a fully leased commercial property situated on a 50' x 100' lot with a 50' x 100' building footprint. Zoned R6B/C1-4.
The property is occupied by an established laundromat tenant under a long-term lease from January 1, 2020 through December 31, 2034. Current monthly rent is $8,819.24 with 3% annual increases. Tenant is responsible for electric, gas and water; landlord is responsible for real estate taxes, currently approximately $37,032 annually.
Asking Price: $2,800,000.
OWNER FINANCING AVAILABLE: Owner may finance up to 50% of the purchase price for 10 years at 6% interest, offering an attractive financing opportunity for qualified buyers.
Excellent opportunity for investors seeking stable rental income, contractual annual rent growth and long-term tenancy in a desirable Ridgewood location. Conveniently located near neighborhood businesses, residential communities, shopping and transportation. All information is deemed reliable but should be independently verified by purchaser.
The property is occupied by an established laundromat tenant under a long-term lease from January 1, 2020 through December 31, 2034. Current monthly rent is $8,819.24 with 3% annual increases. Tenant is responsible for electric, gas and water; landlord is responsible for real estate taxes, currently approximately $37,032 annually.
Asking Price: $2,800,000.
OWNER FINANCING AVAILABLE: Owner may finance up to 50% of the purchase price for 10 years at 6% interest, offering an attractive financing opportunity for qualified buyers.
Excellent opportunity for investors seeking stable rental income, contractual annual rent growth and long-term tenancy in a desirable Ridgewood location. Conveniently located near neighborhood businesses, residential communities, shopping and transportation. All information is deemed reliable but should be independently verified by purchaser.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront
Building Size
5,000 SF
Building Class
C
Year Built
1931
Price
$2,800,000
Price Per SF
$560
Tenancy
Single
Building Height
1 Story
Building FAR
0.96
Lot Size
0.12 AC
Zoning
R6B - 50x100 - R6B FAR 2.0 buildable up to 10,000 sq ft for Condominium or Mixed Use building
Frontage
50’ on Putnam Ave
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 03463-0015 | Improvements Assessment | $228,870 |
| Land Assessment | $112,500 | Total Assessment | $341,370 |
Property Taxes
Parcel Number
03463-0015
Land Assessment
$112,500
Improvements Assessment
$228,870
Total Assessment
$341,370
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