1670 Putnam Ave Ridgewood, NY 11385

Located two blocks from the Myrtle–Wyckoff L/M subway station, this mixed-use property in Ridgewood, NY, offers visibility and connectivity within a dynamic retail and residential area. One of the commercial spaces may have exclusive access to the backyard and basement. This setup is suited for an end user looking to occupy a space while collecting additional income, or for an investor seeking stable returns. The residential units are currently rented below market, offering a path to increased income over time. The property is zoned C4-3A and has 2,668 square feet of unused FAR, presenting a potential opportunity to add up to two additional floors, subject to approvals. The property is not within the Ridgewood Historic District, allowing for design and development flexibility. The location benefits from a growing local culture and steady demand, surrounded by destinations such as Julia’s, Rolo’s, Topos Bookstore Café, and TV Eye. The property has a lot size of 0.0631 acres and a living area of 5,586 square feet. The property is suitable for long-term hold with development potential or for a space to both operate and invest. The doctor's office has a projected rent of $3,700. The dentist office rent is $3,700 with a 3% increase; the lease expires January 1, 2026, with a 10-year lease. Apartment 2L is a 3-bedroom, 1-bath railroad apartment with no lease and a rent of $2,400. Apartment 2R is a 3-bedroom, 1-bath railroad apartment with no lease and a rent of $2,200. Apartment 3L is a 3-bedroom, 1-bath railroad apartment with no lease and a rent of $2,400. Apartment 3R is a 3-bedroom, 1-bath railroad apartment with no lease and a rent of $2,200. Estimated expenses include fuel at $8,496, water & sewer at $2,593, insurance at $3,600, common area electric at $2,458 (includes Doctor's Office), and boiler inspection at $400.