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5940 Myrtle Ave 4,410 SF 100% Leased Retail Building Ridgewood, NY 11385 $3,150,000 ($714.29/SF) 6.36% Cap Rate
Executive Summary
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 $249,834
Turnkey, easy-to-manage asset in Ridgewood’s most desirable location
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 $249,834
Turnkey, easy-to-manage asset in Ridgewood’s most desirable location
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,410 SF
Building Class
B
Year Built
1931
Price
$3,150,000
Price Per SF
$714.29
Cap Rate
6.36%
NOI
$200,340
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.45
Lot Size
0.07 AC
Zoning
R6B - Medium density residential district
Frontage
35’ on Myrtle Avenue
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (96)
Bike Score®
Very Bikeable (74)
Nearby Major Retailers
Property Taxes
| Parcel Number | 03587-0027 | Total Assessment | $165,420 |
| Land Assessment | $45,276 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $120,144 | Tax Year | 2025 |
Property Taxes
Parcel Number
03587-0027
Land Assessment
$45,276
Improvements Assessment
$120,144
Total Assessment
$165,420
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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5940 Myrtle Ave
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