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    6557 Myrtle Ave Flushing, NY 11385

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    For Sale
    $1,590,000

    Mixed-use property with retail and residential units in prime location.

    Lot size:
    0.04 Acres

    Property Features for 6557 Myrtle Ave

    General Information

    Lot size
    0.04 Acres

    Building Details

    Year built
    1910

    Source: United Real Estate Fortune Agent Lisa Lin

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Property in Ridgewood

    This mixed-use property features two residential units and a storefront. The first-floor storefront is currently leased for $3,800 with a lease term of 5+ years. The second floor consists of a 3-bedroom, 1-bathroom unit renting for $2,400, which includes water. The third floor also features a 3-bedroom, 1-bathroom unit, renting for $2,600, which includes water. All utilities are separate for each unit. Located on a busy commercial strip in the heart of Ridgewood, this well-maintained building offers a ground-floor retail space plus residential units above, presenting an investment opportunity with income potential. The property is situated near public transportation, shops, and local amenities.
    Insight Report Location Intelligence

    Current Use by Public Records

    Myrtle Avenue Liquors Liquor Store

    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
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.888889
    Latitude
    40.701453

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with retail and residential units in prime location.
    Where is this mixed-use property located?
    The property is located at 6557 Myrtle Ave Flushing, NY.
    What is the asking price?
    The asking price for this property is $1,590,000.
    What are key features of this property?
    This property features: - Strong income potential from a mixed-use property; - Ground-floor retail space is currently leased for $3800 with a 5+ year lease; - Two residential units, each with 3 bedrooms and 1 bathroom, generating rental income of $2400 and $2600 respectively (including water)
    (646) 996-6698
    Request Owner's contact information
    6557 Myrtle Ave Flushing, NY 11385
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    Flushing, NY 11385
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    Realmo Value Estimation

    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.

    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.

    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
    6557 Myrtle Ave Flushing, NY 11385
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