For Sale
  • For Sale
  • For Lease
  • Recently Sold
  • Property Lookup
  • Brokers
Back to Search

1851 Madison St Flushing, NY 11385

Loading data...
Loading data...
Loading data...
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

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.
More about this property
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