Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    996 Cypress Ave Ridgewood, NY 11385

    Sponsored
    Picture of Mixed-use properties at Cypress Ave 996, Ridgewood, NY
    For Sale
    $3,000,000

    MULTI_FAMILY - Ridgewood, NY

    Lot size:
    0.17 Acres
    Days on Market:
    21
    Last Refresh:
    Jan 24 at 10:06 pm

    Property Features for 996 Cypress Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    M1-4D
    APN
    03551-0063
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Natural Gas
    Cooling system
    Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1927
    Number of units
    17
    Building materials
    Brick

    We can help!

    Listing Contact
    Valon Nikci

    Link NY Realty (646) 321-9428

    Listing agent Valon Nikci (646) 321-9428

    Listing date Jan 4, 2026

    MLS# 907696

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

    Learn more

    Property Insight Report

    Overview

    Ridgewood Mixed-Use Corner Asset

    Located at 996 Cypress Avenue in Ridgewood, Queens, this mixed-use asset is a 4-story walk-up building constructed in 1927. The property features 15 residential units and 2 commercial spaces, totaling 17 units within its 15,744 square feet. Situated on a corner lot at the intersection of Cypress Avenue and George Street, the building benefits from high visibility and consistent tenant demand. The property is located 0.1 miles from the L train at Jefferson Street, providing convenient access to Manhattan and Brooklyn. The property is located in a dynamic and evolving rental market and offers stable income and long-term upside potential. The lot size is 0.1699 acres. The zoning is M1-4D.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ridgewood
    County
    Queens
    State
    New York
    Longitude
    -73.903127
    Latitude
    40.69823

    Nearby Similar for Sale

    • $2,197,000
      0.05 Acres

      Ridgewood Multifamily Building with Garage

      Well-maintained building in Ridgewood's Historic District with a three-car garage.
      6046 Putnam Ave, Ridgewood, NY 11385
      View Details
    • $2,288,000

      New Brick Triplex in Ridgewood

      Newly built Ridgewood triplex with modern layouts and parking.
      6014 Menahan St, Ridgewood, NY 11385
      View Details
    • $2,158,888
      9,200 SF

      Ridgewood Multifamily Building For Sale

      Well-maintained, renovated 8-unit building near M train.
      61-19 Madison St, Ridgewood, NY 11385
      View Details
    • $849,999
      Pending

      Ridgewood Duplex with Rooftop

      Modern Ridgewood duplex with finished basement and private rooftop.
      61-29 Cooper Ave, Ridgewood, NY 11385
      View Details
    • $1,499,999
      Pending

      Ridgewood Three-Family Brick Home

      Semi-detached, three-family home with a two-car garage.
      6185 Grove St, Ridgewood, NY 11385
      View Details
    • $1,325,000
      Pending

      Ridgewood Two-Family Brick Home

      Well-maintained, move-in-ready two-family home in vibrant Ridgewood neighborhood.
      2015 Menahan St, Ridgewood, NY 11385
      View Details
    • $999,000
      Pending

      Ridgewood Two-Family Brick Townhouse

      Two-family home near shops, restaurants, and transit.
      68-15 64Th Pl, Ridgewood, NY 11385
      View Details
    • $1,299,999
      Pending

      Ridgewood Two-Family Brick Home

      Well-maintained two-family brick home in Ridgewood, Queens.
      446 Stockholm St, Ridgewood, NY 11385
      View Details
    • $1,599,900
      0.05 Acres

      Restored Two-Family Townhouse in Ridgewood

      Meticulously restored brick two-family home with modern upgrades.
      16-16 Putnam Ave, Ridgewood, NY 11385
      View Details
    • $1,195,000
      Pending

      Ridgewood Two-Family Home

      Well-maintained two-family home in the heart of Ridgewood.
      6922 64Th Pl, Ridgewood, NY 11385
      View Details
    • New
      $899,900
      0.03 Acres

      Ridgewood Two-Family Home with Yard

      Two-family home in Ridgewood with yard, near L/M trains.
      68-09 60Th St, Ridgewood, NY 11385
      View Details
    • $880,000
      0.06 Acres

      Income-Producing Six-Family Brick House

      Legal six-family brick house in prime Ridgewood location.
      1722 Putnam Ave, Ridgewood, NY 11385
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property in Ridgewood, Queens, near L train.
    Where is this mixed-use property located?
    The property is located at 996 Cypress Ave Ridgewood, NY.
    What is the asking price?
    The asking price for this property is $3,000,000.
    What are key features of this property?
    This property features: - Prime corner location in Ridgewood, Queens offering high visibility.; - Mixed-use property featuring 15 residential units and 2 commercial spaces.; - Excellent transit access: Just 0.1 miles to the L train (Jefferson Street).
    (646) 321-9428
    Request Owner's contact information
    996 Cypress Ave Ridgewood, NY 11385
    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.
    996 Cypress Ave
    Ridgewood, NY 11385
    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
    996 Cypress Ave Ridgewood, NY 11385
    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

    We can help!
    Listing Contact
    Valon Nikci
    (646) 321-9428
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.