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76-17 Myrtle Ave
Ridgewood, NY 11385
Retail Property For Sale
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!!!)
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
100%
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
Property Taxes
| Parcel Numbers | Improvements Assessment | $69,878 | |
| Land Assessment | $59,597 | Total Assessment | $129,475 |
Property Taxes
Parcel Numbers
Land Assessment
$59,597
Improvements Assessment
$69,878
Total Assessment
$129,475
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