Building Details

Year Built 1910

Buildings 1

Stories 2

Listing Agency: CRYSTIN & CO REALTY LLC

Listed By: Crystin Drowlette Show Phone

Source: Crystinandcorealty

Added: Mar 13, 2025 Changed: Oct 23 Last Checked: Oct 23 at 5:27PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CRYSTIN & CO REALTY LLC

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Investment Insights

Based on property information with market context.

This 3,360-square-foot mixed-use property combines 1,680 square feet of retail space with two residential apartments, each configured with two bedrooms. The building also includes a finished basement and two garages.

The ground-floor commercial unit has exclusive access to the backyard and a commercial cooking gas line. Built in 1910, the property is located on Forest Avenue in Ridgewood, Queens. The units are described as free-market, and the stated cap rates are 7.28% based on projected vacant rent and 9.87% potential.

Key Highlights

• 3,360‑square‑foot building on a 25.67' x 105.67' lot
• 1,680 square feet of retail space
• Two residential units, each with two bedrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$82,133

Cap Rate

4.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,642,660 $1.6M

Cap Rate 7%

$1,173,329 $1.2M

Cap Rate 9%

$912,589 $912.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,360 SF

Gross rent

$155.2K $46.20/SF

− Vacancy

−$5.9K −$1.76/SF

EGI

$149.3K $44.44/SF

− OpEx

−$67.2K −$20.00/SF

NOI

$82.1K $24.44/SF

Area

Queens County, NY

Vacancy

3.80%

Lease Rate

$46.20 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,642,660

Cap Rate 7%

$1,173,329

Cap Rate 9%

$912,589

Alternative Uses

Best Use

Apartment 5plus

$1.17M

$1.03M – $1.37M (±1% cap)

NOI $82,133 @ 7.0% cap · market cap 4.98%

Second Best

Retail

$856.8K

$749.7K – $999.6K (±1% cap)

NOI $59,976 @ 7.0% cap · market cap 3.63%

Theoretical Best

Office A

$2.48M

$2.17M – $2.89M (±1% cap)

NOI $173,392 @ 7.0% cap · market cap 10.51%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Acupuncture Carpet & Flooring Store Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

4,590

Businesses Nearby

Explore this area Business Placement

Demographics for 11385, NY

100,883

Population

40,175

Households

2.5

Avg Household Size

36

Median Age

34%

College-Educated

84%

High-School Grad

3.6 sq mi

ZIP Area

28,023

Density / Sq Mi

$87,365

Median Household Income

$47,335

Median Earnings

$1,959

Median Rent

$842,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Includes two two-bedroom apartments, ground-floor commercial space, and a finished basement.

Where is this mixed-use property located?

The property is located at 6817 Forest Avenue Ridgewood, NY.

What is the asking price?

The asking price for this property is $1,650,000.

What are key features of this property?

This property features: 3,360‑square‑foot building on a 25.67' x 105.67' lot; 1,680 square feet of retail space; Two residential units, each with two bedrooms