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603 Woodward Ave
Ridgewood, NY 11385
Retail Property For Sale
EXECUTIVE SUMMARY
This mixed-use property in Ridgewood is an exceptional investment opportunity with strong income potential. Here’s a refined overview: 11 Residential Units- The property includes 11 residential units, providing a reliable tenant base and steady rental income. 6 units are one bedroom and units are one studios. Storefront: The street-level retail space is located in a high-traffic area, offering great visibility and attracting consistent foot traffic. Gross Annual Income: The property generates a gross annual income of $185,000, indicating strong returns. Prime Location: Nestled in a vibrant, sought-after neighborhood, the property is conveniently located near shops, restaurants, and major transportation options, enhancing both residential and commercial appeal. Upgrades: The property features a new roof and furnace, which reduces the need for immediate maintenance and ensures long-term stability.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
5,175 SF
Building Class
C
Year Built
1915
Price
$1,999,000
Price Per SF
$386.28
Cap Rate
6.70%
NOI
$133,933
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.98
Lot Size
0.06 AC
Zoning
R6B, C1-4 - Medium density residential district
PROPERTY TAXES
| Parcel Number | 03392-0012 | Improvements Assessment | $226,890 |
| Land Assessment | $28,350 | Total Assessment | $255,240 |
PROPERTY TAXES
Parcel Number
03392-0012
Land Assessment
$28,350
Improvements Assessment
$226,890
Total Assessment
$255,240
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