Mixed-Use Building with Development
For Sale
$3,200,000
1670 Putnam Avenue, Ridgewood, NY 11385
Two office spaces and four railroad-style apartments occupy this residential and commercial property.
Property Size5,586 SF
Price / SF$572.86
Days on Market474
Property Features for 1670 Putnam Avenue
General Information
Standard status
Active
Size
5,586 SF
Property subtype
Commercial
Zoning
C4-3A
Financials
Gross Income
$88,800
Average Monthly Rent
$2,300
Units
Unit Mix
4 x 3BR/1BA
Multifamily Units
4
Office Units
2
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Property Use
Medical Office
Medical Specialty
dental
Taxes and HOA fees
Annual Taxes
$20,533
Building Details
Building Size
5,586 SF
Year Built
1931
Buildings
1
Stories
3
Units
6
Tenancy
Multi
Listing Agency:
Crifasi Real Estate Inc
Listed By:
Sal J. Crifasi · License #10301205163
(718) 782-4411
Source:
Croninreale
Added: Jul 8, 2025
Changed: Oct 23
Last Checked: Oct 23 at 5:25PM
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 Crifasi Real Estate Inc
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Investment Insights
Based on property information with market context.
Built in 1931, the 5,586-square-foot mixed-use building contains doctor and dentist office spaces alongside four railroad-style apartments, each described as having three bedrooms and one bathroom. The property is zoned C4-3A and has 2,668 square feet of unused FAR. The source indicates that up to two additional floors may be possible, subject to approvals.
The building is two blocks from the Myrtle–Wyckoff L/M subway station. Nearby destinations listed include Julia’s, Rolo’s, Topos Bookstore Café, and TV Eye. The property is outside the Ridgewood Historic District.
The building is two blocks from the Myrtle–Wyckoff L/M subway station. Nearby destinations listed include Julia’s, Rolo’s, Topos Bookstore Café, and TV Eye. The property is outside the Ridgewood Historic District.
Key Highlights
- 5,586‑square‑foot mixed‑use building constructed in 1931
- Zoned C4‑3A with 2,668 square feet of unused FAR
- Potential for up to two additional floors, subject to approvals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$183,912
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,678,240
$3.7M
Cap Rate 7%
$2,627,314
$2.6M
Cap Rate 9%
$2,043,467
$2.0M
Market Conditions
NOI Build-Up for 5,586 SF
Gross rent
$281.5K $50.40/SF
− Vacancy
−$36.3K −$6.50/SF
EGI
$245.2K $43.90/SF
− OpEx
−$61.3K −$10.97/SF
NOI
$183.9K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,678,240
Cap Rate 7%
$2,627,314
Cap Rate 9%
$2,043,467
Alternative Uses
Best Use
Office B
$2.63M
$2.30M – $3.07M
NOI $183,912 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$1.95M
$1.71M – $2.28M
NOI $136,547 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$4.12M
$3.60M – $4.80M
NOI $288,264 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,438
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two office spaces and four railroad-style apartments occupy this residential and commercial property.
Where is this mixed-use property located?
The property is located at 1670 Putnam Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 5,586‑square‑foot mixed‑use building constructed in 1931; Zoned C4‑3A with 2,668 square feet of unused FAR; Potential for up to two additional floors, subject to approvals
