Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Ridgewood Multi-Family Investment Opportunity Title is generated by Realmo AI

    17-17 Madison Street, Queens, NY 11385

    View on Map
    Claim this Listing
    For Sale
    $2,095,000

    Commercial Building, Townhouse - Queens, NY

    Property size:
    5,600 SF
    Price / SF:
    $374/SF
    Added:
    Dec 17, 2025
    Days on Market:
    156
    Last Refresh:
    May 22 at 3:06 am

    Property Features for 17-17 Madison Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bedrooms
    12
    Bathrooms
    6
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking features
    Garage
    Standard status
    Active
    Size
    5,600 SF

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Cassandra Frank

    Listing agent Cassandra Frank

    Listing office Compass 90 Fifth Avenue, 3rd Floor, New York, NY

    Listing date Dec 17, 2025

    MLS# 11620055 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 5,600 sq. ft. multi‑family property in Ridgewood.
    • Six floor‑through apartments.
    • Four free market apartments.
    • Two rent stabilized apartments.
    • Full basement for storage or added functionality.
    • Garage parking.

    Overview

    Located in the heart of Ridgewood, this multi-family property at 17-17 Madison St, Queens, NY 11385, offers a solid investment opportunity. The mid-rise building spans 5,600 square feet and features 6 floor-through apartments. The unit mix includes 4 free-market apartments and 2 rent-stabilized apartments. The walk-up design ensures privacy for each unit. The building is equipped with gas heating and optional window AC units. A full basement provides storage space or added functionality. This property combines classic mid-rise charm with modern potential, offering convenient access to the vibrant surroundings of Queens. The property represents a solid investment with future upside.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $1.52M
    NOI $136,889 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.96M
    NOI $136,889 @ 7.00% cap · market / base-case scenario
    Aggressive
    $2.74M
    NOI $136,889 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $258.7k $46.20
    − Vacancy −$9.8k −$1.76
    EGI $248.9k $44.44
    − OpEx −$112.0k −$20.00
    NOI $136.9k $24.44
    5,600 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $1.96M
    $1.71M – $2.28M (±1% cap)
    NOI $136,889 @ 7.0% cap · market cap 6.53%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $4.13M
    $3.61M – $4.82M (±1% cap)
    NOI $288,987 @ 7.0% cap · market cap 13.79%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.906995
    Latitude
    40.701495

    Nearby Similar for Sale

    • $1,449,999
      2,631 SF

      Spacious Multifamily Home with Pool

      Multifamily home in Queens with pool and ample parking.
      125-11 7th Avenue, Queens, NY 11356
      View Details
    • $38,000
      700 SF

      Turnkey Bakery Business in Queens

      Bakery business for sale in high-traffic College Point location.
      20-15 College Point Boulevard, Queens, NY 11356
      View Details
    • $900,000
      2,206 SF

      Renovated Triplex in Queens, NY

      Newly renovated triplex with versatile living spaces in Queens.
      341 Beach 67th Street, Queens, NY 11692
      View Details
    • $15,000,000
      21,445 SF

      NYU Medical Investment Opportunity

      Fully leased medical office building in Queens, NY.
      228-02 Merrick Boulevard, Queens, NY 11413
      View Details
    • $1,500,000
      1,440 SF

      Queens Village Multifamily Investment Property

      Fully rented, renovated four-family house in Queens Village.
      99-02 212th Street, Queens, NY 11429
      View Details
    • $1,788,000
      2,650 SF

      Desirable Jackson Heights Multi-Family Home

      Well-maintained triplex in Jackson Heights with tenant or vacant options.
      77-16 25th Avenue, Queens, NY 11370
      View Details
    • $5,500,000
      5,190 SF

      Mixed-Use Building in Long Island

      Mixed-use building with retail, studio, and residential units.
      5-46 50th Avenue, Queens, NY 11101
      View Details
    • $1,680,000
      4,300 SF

      Upgraded Six-Family Residence, Queens

      Income-producing six-family property with recent upgrades and private parking.
      22-08 120th Street, Queens, NY 11356
      View Details
    • $450,000
      5,000 SF

      Turnkey Japanese Restaurant in Forest Hills

      Profitable, established restaurant for sale in prime Forest Hills location.
      111-16 Queens Blvd, Queens, NY 11375
      View Details
    • $1,250,000
      2,178 SF

      Queens Two-Family Home Value-Add Opportunity

      Two-family home on a 48' x 100' lot.
      23-40 124th Street, Queens, NY 11356
      View Details
    • $1,250,000
      3,250 SF

      Two-Family Home in Belle Harbor

      Two spacious apartments near the beach, shopping, and transportation.
      128-19 Cronston Avenue, Queens, NY 11694
      View Details
    • $4,599,000
      5,220 SF

      Sunnyside Corner Commercial Property For Sale

      Income-producing property with gas station, convenience store, and repair shop.
      39-04 Skillman Ave, Queens, NY 11104
      View Details

    FAQs

    What type of property is this?
    Apartment building - Spacious 6-unit building in prime Queens location.
    Where is this apartment building located?
    The property is located at 17-17 Madison Street Queens, NY.
    What is the asking price?
    The asking price for this property is $2,095,000.
    What are key features of this property?
    This property features: 5,600 sq. ft. multi‑family property in Ridgewood.; Six floor‑through apartments.; **Four free market apartments.**
    (212) 375-9999
    We can help!
    Listing Contact
    Cassandra Frank
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    17-17 Madison Street, Queens, NY 11385
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!