Corner Mixed-Use
566 ONDERDONK AVENUE Ridgewood, NY 11385
566 ONDERDONK AVENUE, Ridgewood, NY, 11385
$3,075,000
For Sale
Under Contract
$3,075,000
COMMERCIAL - RIDGEWOOD, NY
Property Size5,625 SF
Lot Size0.06 Acres
Price / SF$546.67
Days on Market142
Property Features for 566 ONDERDONK AVENUE
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bathrooms
- 6
- Rooms
- Bathroom 5, Bathroom 4, Bathroom 2, Bathroom 6, Bathroom 1, Bathroom 3
- Standard status
- Active Under Contract
- Lot size
- 0.06 Acres
Building Details
- Year built
- 1931
- Floors in Building
- 3
- Flooring type
- Hardwood
Listing Agency
EVERGREEN REALTY & INVESTMENTS
(646) 838-1378
5825 Myrtle Avenue Office 2A, RIDGEWOOD, NY
Listed by
Emma Barattini
(646) 838-1378
Added: Feb 25 Checked: Jul 17 at 2:06 am
MLS# 11662546
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.
Investment Insights
Based on property information with market context.
This corner mixed-use building has been fully gut-renovated and is configured with four spacious two-bedroom apartments featuring hardwood floors. The property also includes two established commercial spaces: one daycare and one restaurant. A fully finished basement provides two offices and a private bathroom.
The building measures approximately 5,625 square feet. The first floor is approximately 25 feet by 100 feet, with the second and third floors approximately 25 feet by 64 feet.
In addition to the in-place income profile, the building has documented capital improvements, including replacement of all boilers within the last five years, plumbing, electrical, and exterior masonry pointing updates within approximately the last 20 years, and additional mechanical modernization with a low deferred maintenance profile.
The building measures approximately 5,625 square feet. The first floor is approximately 25 feet by 100 feet, with the second and third floors approximately 25 feet by 64 feet.
In addition to the in-place income profile, the building has documented capital improvements, including replacement of all boilers within the last five years, plumbing, electrical, and exterior masonry pointing updates within approximately the last 20 years, and additional mechanical modernization with a low deferred maintenance profile.
Key Highlights
- 6.59% cap rate at asking (7.06% potential) with $255,954 annual gross income and $202,597 NOI
- Corner mixed‑use building with four 2‑bedroom apartments featuring hardwood floors plus two commercial spaces (daycare and restaurant)
- 5,625 SF building (approx): first floor ~25' x 100', second and third floors ~25' x 64'
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $371.3k | $66.00 |
| − Vacancy | −$24.1k | −$4.29 |
| EGI | $347.1k | $61.71 |
| − OpEx | −$86.8k | −$15.43 |
| NOI | $260.3k | $46.28 |
5,625 SF · lease $66.00/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.72M
$3.25M – $4.34M
NOI $260,339 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$1.96M
$1.72M – $2.29M
NOI $137,500 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$4.15M
$3.63M – $4.84M
NOI $290,277 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Antonio's Food
Restaurant
Onderdonk Apartments
Apartment Building
Onderdonk & Sons
Bar & Pub
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fully gut-renovated corner building with four two-bedroom apartments and two ground-floor commercial spaces.
Where is this quadplex located?
The property is located at 566 ONDERDONK AVENUE Ridgewood, NY.
What is the asking price?
The asking price for this property is $3,075,000.
What are key features of this property?
This property features: 6.59% cap rate at asking (7.06% potential) with $255,954 annual gross income and $202,597 NOI; Corner mixed‑use building with four 2‑bedroom apartments featuring hardwood floors plus two commercial spaces (daycare and restaurant); 5,625 SF building (approx): first floor ~25' x 100', second and third floors ~25' x 64'
