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566 Onderdonk Ave 1,500 SF 100% Leased Retail Building Ridgewood, NY 11385 $3,075,000 ($2,050/SF) 6.59% Cap Rate
Investment Highlights
- DAYTIME FOOT TRAFFIC
- EXPOSED BRICK
Executive Summary
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: $255,354 annual gross with upside
NOI: $202,043
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
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: $255,354 annual gross with upside
NOI: $202,043
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
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
1,500 SF
Year Built
1931
Price
$3,075,000
Price Per SF
$2,050
Cap Rate
6.59%
NOI
$202,643
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.57
Lot Size
0.06 AC
Zoning
R6, Queens
Frontage
25’ on Onderdonk Ave
Walk Score®
Walker's Paradise (91)
Transit Score®
Rider's Paradise (99)
Bike Score®
Very Bikeable (78)
Nearby Major Retailers
Property Taxes
| Parcel Number | 03435-0039 | Improvements Assessment | $124,719 |
| Land Assessment | $37,798 | Total Assessment | $162,517 |
Property Taxes
Parcel Number
03435-0039
Land Assessment
$37,798
Improvements Assessment
$124,719
Total Assessment
$162,517
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566 Onderdonk Ave
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