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76-17 Myrtle Ave 3,300 SF Vacant Retail Building Ridgewood, NY 11385 $1,588,000 ($481.21/SF) 8.40% Cap Rate
Investment Highlights
- Calling All Investors, Developers, & End-Users!!! 8.4 Cap 100% Occupied 4 Unit 3,300 Sqft. Corner Mixed-Use Building In Glendale For Sale!!!
- The Property Is Located In The Heart Of Glendale Just 3 Blocks From The Jackie Robinson Parkway!!!
- Neighbors Include Starbucks, USPS, HomeGoods, Ulta Beauty, T.J. Maxx, Chili’s Bar & Grill, Cold Stone Creamery, California Pizza Kitchen, +++!!!
- The Property Features Excellent Signage, Great Exposure, R4B/C1-3 Zoning, High 9’ Ceilings, (2) 3 Br. Apartments, (1) 2 Br. Apartment, Basement, +++!!
- The Property Has 21’ Of Frontage On Myrtle Ave. + 106’ On 78th St.!!!
- This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Executive Summary
Calling All Investors, Developers, & End-Users!!! 8.4 Cap 100% Occupied 4 Unit 3,300 Sqft. Corner Mixed-Use Building In Glendale For Sale!!! The Property Features Excellent Signage, Great Exposure, R4B/C1-3 Zoning, High 9’ Ceilings, (2) 3 Br. Apartments, (1) 2 Br. Apartment, Basement, 200 Amp Power, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of Glendale Just 3 Blocks From The Jackie Robinson Parkway!!! The Property Has 21’ Of Frontage On Myrtle Ave. + 106’ On 78th St.!!! Neighbors Include Starbucks, USPS, HomeGoods, Ulta Beauty, T.J. Maxx, Chili’s Bar & Grill, Cold Stone Creamery, California Pizza Kitchen, Dunkin’, McDonald’s, Regal Cinemas, Dollar General, Wendy’s, Subway, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Myrtle Meds Pharmacy: $39,403.68 Ann.; 3% Ann. Inc.; Lease Exp.: 8/31/29.
Apt. 1 (3 Br.): $41,568 Ann.; Lease Exp.: 2/28/27.
Apt. 2 (2 Br.): $34,692 Ann.; Lease Exp.: 4/30/27.
Apt. 3 (3 Br.): $41,568 Ann.; Lease Exp.: 2/28/27.
Gross Income: $157,231.68 Ann.
Expenses:
Gas: $0 Ann.
Electric: $495 Ann.
Maintenance & Repairs: $4,000 Ann.
Water & Sewer: $2,400 Ann
Insurance: $6,041 Ann.
Taxes: $10,973.90 Ann.
Total Expenses: $23,909.90 Ann.
Net Operating Income (NOI): $133,321.78 Ann. (8.4% Cap!!!)
Income:
Myrtle Meds Pharmacy: $39,403.68 Ann.; 3% Ann. Inc.; Lease Exp.: 8/31/29.
Apt. 1 (3 Br.): $41,568 Ann.; Lease Exp.: 2/28/27.
Apt. 2 (2 Br.): $34,692 Ann.; Lease Exp.: 4/30/27.
Apt. 3 (3 Br.): $41,568 Ann.; Lease Exp.: 2/28/27.
Gross Income: $157,231.68 Ann.
Expenses:
Gas: $0 Ann.
Electric: $495 Ann.
Maintenance & Repairs: $4,000 Ann.
Water & Sewer: $2,400 Ann
Insurance: $6,041 Ann.
Taxes: $10,973.90 Ann.
Total Expenses: $23,909.90 Ann.
Net Operating Income (NOI): $133,321.78 Ann. (8.4% Cap!!!)
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$157,232
|
$47.65
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$157,232
|
$47.65
|
| Taxes |
$10,974
|
$3.33
|
| Operating Expenses |
$12,936
|
$3.92
|
| Total Expenses |
$23,910
|
$7.25
|
| Net Operating Income |
$133,322
|
$40.40
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $157,232 |
| Annual Per SF | $47.65 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $157,232 |
| Annual Per SF | $47.65 |
| Taxes | |
|---|---|
| Annual | $10,974 |
| Annual Per SF | $3.33 |
| Operating Expenses | |
|---|---|
| Annual | $12,936 |
| Annual Per SF | $3.92 |
| Total Expenses | |
|---|---|
| Annual | $23,910 |
| Annual Per SF | $7.25 |
| Net Operating Income | |
|---|---|
| Annual | $133,322 |
| Annual Per SF | $40.40 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,300 SF
Building Class
C
Year Built
1925
Price
$1,588,000
Price Per SF
$481.21
Cap Rate
8.40%
NOI
$133,322
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.52
Lot Size
0.05 AC
Zoning
R4B, C1-3 - low-density, contextual residential district (R4B) with a commercial overlay (C1-3)
Frontage
Amenities
- 24 Hour Access
- Controlled Access
- Corner Lot
- Security System
- Signage
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Myrtle Meds Inc Pharmacy
- Retailer
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Myrtle Meds Inc Pharmacy | Retailer | - | - | - |
Walk Score®
Very Walkable (84)
Bike Score®
Very Bikeable (70)
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Total Assessment | $129,475 (2025) | |
| Land Assessment | $59,597 (2025) | Annual Taxes | $10,974 ($3.33/SF) |
| Improvements Assessment | $69,878 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$59,597 (2025)
Improvements Assessment
$69,878 (2025)
Total Assessment
$129,475 (2025)
Annual Taxes
$10,974 ($3.33/SF)
Tax Year
2026
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76-17 Myrtle Ave
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