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    1851 Madison St Flushing, NY 11385

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    For Sale
    $2,500,000

    Four-unit mixed-use building in historic Ridgewood, Queens.

    Lot size:
    0.06 Acres

    Property Features for 1851 Madison St

    General Information

    Lot size
    0.06 Acres

    Building Details

    Year built
    1971

    Source: Triumph Property Group Ltd Agent Althea E Ffrench

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

    Overview

    Ridgewood Mixed-Use Investment Opportunity

    Located in the historic district of Ridgewood, Queens, at the corner of Onderdonk Avenue and Madison Street, this well-maintained, landmarked, four-unit mixed-use building offers a potential investment opportunity. The property features spacious apartment layouts with non-controlled/non-stabilized units, presenting opportunities for income improvement due to below-market rents. A clean and dry basement provides ample storage capacity. An established medical facility, a neighborhood staple, occupies a portion of the building, paying its own utilities and 50% of the property taxes. The roof and chimney were upgraded in 2022, contributing to the building's maintained condition. This property is positioned as an investment opportunity with potential for long-term ownership.
    Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    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
    -73.904985
    Latitude
    40.70346

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    FAQs

    What type of property is this?
    Mixed-use property - Four-unit mixed-use building in historic Ridgewood, Queens.
    Where is this mixed-use property located?
    The property is located at 1851 Madison St Flushing, NY.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: - Positive cash flow from day one.; - Established medical facility tenant paying own utilities and 50% of property taxes.; - Non-controlled/non-stabilized units with below market rents offering income improvement potential.
    (646) 812-7655
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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
    1851 Madison St Flushing, NY 11385
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