Ridgewood Mixed-Use Asset with
683 Woodward Avenue, Ridgewood, NY 11385
- Added:
- Mar 3, 2026
- Days on Market:
- 74
- Last Refresh:
- May 16 at 3:06 pm
Property Features for 683 Woodward Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- Garage
- Standard status
- Active
- Size
- 4,500 SF
Taxes and HOA fees
- Tax Annual Amount
- 16272
Building Details
- Year built
- 1931
- Year renovated
- 1931
- Floors in Building
- 3
- Architectural style
- Other
Listing agent Gobinda Lama (718) 875-1107
Listing office PRIME AMERICA REAL ESTATE INC 6123 FRESH POND ROAD, Brooklyn, NY (718) 875-1107
Listing date Mar 3, 2026
MLS# 11666796
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
- R6B zoning with C1‑4 commercial overlay allows for significant development potential, with a maximum buildable area of approximately 10,250 square feet.
- Prime location in the high‑demand Ridgewood neighborhood, known for its historic districts and thriving local economy.
- Substantial mixed‑use property with approximately 5,650 square feet, featuring a large commercial space (approx. 2,500 sq ft) and two residential apartments.
- Expansive commercial space with distinct architectural elements and a 1,575 sq ft basement for storage.
- Easy access to transportation, providing connectivity to Brooklyn and Manhattan.
- Pre‑war building with classic architectural charm.
Overview
Located in Ridgewood, Queens, the mixed-use property at 683 Woodward Avenue features pre-war character and development potential. The building totals approximately 5,650 square feet. The ground level has an expansive commercial space of approximately 2,500 square feet, formerly a woolen cloth factory, with an open floor plan suitable for commercial applications. A 1,575 square foot basement provides storage or utility space. The second floor comprises approximately 1,575 square feet of residential living space, divided into two apartments. Each unit features a railroad-style layout with two bedrooms and one bathroom. The property is located in an R6B residential zone with a C1-4 commercial overlay, and has air rights and expansion possibilities. Preliminary analysis suggests a maximum buildable area of approximately 10,250 square feet, allowing for a potential vertical enlargement or a complete redevelopment of the site. Possibilities include expanding the current residential square footage, modernizing the ground floor for retail or community facility use, or executing a ground-up mixed-use project. The property offers access to neighborhood amenities, including cafes, restaurants, and retail shopping along the Woodward and Myrtle Avenue corridors. Transportation is easily accessible, ensuring connectivity to Brooklyn and Manhattan. The lot size is 0 acres and the property size is 4,500 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.22M
NOI $110,000 @ 9.00% cap · cautious / downside scenario
Moderate
$1.57M
NOI $110,000 @ 7.00% cap · market / base-case scenario
Aggressive
$2.20M
NOI $110,000 @ 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 | $207.9k | $46.20 |
| − Vacancy | −$7.9k | −$1.76 |
| EGI | $200.0k | $44.44 |
| − OpEx | −$90.0k | −$20.00 |
| NOI | $110.0k | $24.44 |
4,500 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.57M
$1.38M – $1.83M
NOI $110,000 @ 7.0% cap · market cap 5.51%
Second Best
Retail
$1.15M
$1.00M – $1.34M
NOI $80,325 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$3.32M
$2.90M – $3.87M
NOI $232,222 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Simply Knitting Mills, ...
Textile Manufacturer
Location Insight
- Map
- Local Demand
- City
- Ridgewood
- County
- Queens
- State
- New York
- Longitude
- -73.905779
- Latitude
- 40.705227
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use property in Ridgewood with development potential.
Where is this mixed-use property located?
The property is located at 683 Woodward Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,998,000.
What are key features of this property?
This property features: R6B zoning with C1‑4 commercial overlay allows for significant development potential, with a maximum buildable area of approximately 10,250 square feet.; Prime location in the high‑demand Ridgewood neighborhood, known for its historic districts and thriving local economy.; Substantial mixed‑use property with approximately 5,650 square feet, featuring a large commercial space (approx. 2,500 sq ft) and two residential apartments.
