Renovated Mixed-Use
For Sale
$2,000,000
1629 Decatur Street, Ridgewood, NY 11385
Two-family residential space accompanies a fabrication shop, finished basement, private parking, and detached garage.
Property Size3,616 SF
Lot Size0.11 Acres
Price / SF$553.10
Days on Market13
Property Features for 1629 Decatur Street
General Information
Standard status
Active
Size
3,616 SF
Lot size
0.11 Acres
Property subtype
Mixed Use
Listing Agency:
Century 21 Achievers
(718) 758-0600
Listed By:
Gary Roger
(718) 758-0600
Source:
Prideestates
Added: Aug 16
Changed: Aug 28
Last Checked: Aug 28 at 1:07PM
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 Century 21 Achievers
Investment Insights
Based on property information with market context.
Located at 1629 Decatur Street in Ridgewood, this mixed-use property combines a two-family residential component with commercial workspace. The residential layout includes a four-bedroom, one-bath unit above a three-bedroom, one-bath unit, along with a full finished basement. The residential portion was completely renovated and is delivered vacant.
The commercial area is currently configured as a fabrication shop. The property occupies a 5,000-square-foot lot and contains 3,616 square feet of property space. A private driveway provides parking for at least four cars, complemented by a detached garage. Transit access includes the B20 and B26 bus routes and the L train.
The commercial area is currently configured as a fabrication shop. The property occupies a 5,000-square-foot lot and contains 3,616 square feet of property space. A private driveway provides parking for at least four cars, complemented by a detached garage. Transit access includes the B20 and B26 bus routes and the L train.
Key Highlights
- Two‑family layout with four‑bedroom and three‑bedroom units, each with one bath
- Full finished basement included in the residential portion
- Commercial area currently configured as a fabrication shop
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$88,391
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,767,820
$1.8M
Cap Rate 7%
$1,262,729
$1.3M
Cap Rate 9%
$982,122
$982.1K
Market Conditions
NOI Build-Up for 3,616 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$167.1K $46.20/SF
− Vacancy
−$6.3K −$1.76/SF
EGI
$160.7K $44.44/SF
− OpEx
−$72.3K −$20.00/SF
NOI
$88.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,767,820
Cap Rate 7%
$1,262,729
Cap Rate 9%
$982,122
Alternative Uses
Best Use
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,391 @ 7.0% cap · market cap 4.42%
Second Best
Multifamily LT 5
$855.0K
$748.1K – $997.5K
NOI $59,851 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$2.67M
$2.33M – $3.11M
NOI $186,603 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,877
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-family residential space accompanies a fabrication shop, finished basement, private parking, and detached garage.
Where is this mixed-use property located?
The property is located at 1629 Decatur Street Ridgewood, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Two‑family layout with four‑bedroom and three‑bedroom units, each with one bath; Full finished basement included in the residential portion; Commercial area currently configured as a fabrication shop
