Flex Space with Warehouse-Style
For Sale
$1,480,000
60-60 Metropolitan ave, Ridgewood, NY 11385
COMMERCIAL - Ridgewood, NY
Property Size3,000 SF
Lot Size0.07 Acres
Price / SF$493.33
Days on Market257
Property Features for 60-60 Metropolitan ave
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Subdivision
Flushing
Directions
see the google map
Standard status
Active
Lot size
0.07 Acres
Utilities
Heating system
Natural Gas, Baseboard, Hot Water(Heating)
Building Details
Year built
1931
Floors in Building
3
Flooring type
Hardwood, Granite
Listing Agency:
EAST COAST NEW YORK
(718) 428-2900
Listed By:
Young Oh Jung
(917) 974-0992
Added: Dec 5, 2025
Changed: Aug 4
Last Checked: Aug 19 at 6:06AM
MLS# 11617061
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.
Flex space at 60-60 Metropolitan Ave includes a first-floor large open warehouse-style area, an office, and bathroom space. The space is described as having gas available, supporting a range of retail or warehouse use types. Flooring includes granite and hardwood, and heating is provided via baseboard, hot water heat, and natural gas.
The property is situated in the center of Ridgewood and is described as close to major highways, with approximately 20 minutes to Manhattan, Flushing, Long Island, and Brooklyn.
Built in 1931, this offering totals approximately 3,000 SF on the first floor (approx.) and is configured for flexible use depending on tenant needs.
The property is situated in the center of Ridgewood and is described as close to major highways, with approximately 20 minutes to Manhattan, Flushing, Long Island, and Brooklyn.
Built in 1931, this offering totals approximately 3,000 SF on the first floor (approx.) and is configured for flexible use depending on tenant needs.
Key Highlights
- Approximately 3,000 SF first‑floor space (approx.) with large warehouse‑style area
- Gas available for a range of retail or warehouse use types
- Office plus bathroom space, including two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,550
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,071,000
$1.1M
Cap Rate 7%
$765,000
$765.0K
Cap Rate 9%
$595,000
$595.0K
Market Conditions
NOI Build-Up for 3,000 SF
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.
Gross rent
$90.0K $30.00/SF
− Vacancy
−$13.5K −$4.50/SF
EGI
$76.5K $25.50/SF
− OpEx
−$23.0K −$7.65/SF
NOI
$53.6K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,071,000
Cap Rate 7%
$765,000
Cap Rate 9%
$595,000
Alternative Uses
Best Use
Retail
$765.0K
$669.4K – $892.5K
NOI $53,550 @ 7.0% cap · market cap 3.62%
Second Best
Flex RnD
$680.3K
$595.2K – $793.7K
NOI $47,619 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,814 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,529
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space featuring natural gas service, with a large warehouse-style area and office plus bathroom space.
Where is this flex space located?
The property is located at 60-60 Metropolitan ave Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,480,000.
What are key features of this property?
This property features: Approximately 3,000 SF first‑floor space (approx.) with large warehouse‑style area; Gas available for a range of retail or warehouse use types; Office plus bathroom space, including two bathrooms
