Four-Story Mixed-Use
New
For Sale
$3,300,000
2-97 St Nicholas Avenue, Ridgewood, NY 11385
Commercial Sale, Ridgewood, NY
Property Size7,260 SF
Price / SF$454.55
Days on Market3
Property Features for 2-97 St Nicholas Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Elementary school district
Queens 24
Middle school district
Queens24
High school district
Queens24
Standard status
Active
APN
03447-0010
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
30097
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1930
Floors in Building
4
Building materials
Brick
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Hsin Yuan Yang · License #10311205376
(646) 688-8998
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 17 at 4:06AM
MLS# 1051252
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-story mixed-use building at 2-97 St Nicholas Avenue contains approximately 7,260 square feet, with seven residential units and two commercial units. The residential apartments are free market, creating a combination of residential and commercial occupancy within one property. Built in 1930, the structure features brick construction, baseboard heating, wall/window and window-unit cooling, public water, and public sewer.
The property occupies an approximately 22' x 91' lot, with a building footprint of approximately 22' x 80'. It is situated in Ridgewood near Bushwick, with access to the L and M subway lines, local amenities, and Manhattan. The configuration provides separate residential and commercial components in an established Queens setting.
The property occupies an approximately 22' x 91' lot, with a building footprint of approximately 22' x 80'. It is situated in Ridgewood near Bushwick, with access to the L and M subway lines, local amenities, and Manhattan. The configuration provides separate residential and commercial components in an established Queens setting.
Key Highlights
- Approximately 7,260 SF mixed‑use building
- Seven residential units and two commercial units
- All residential units are free market
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
$177,466
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
5.38%
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%
$3,549,320
$3.5M
Cap Rate 7%
$2,535,229
$2.5M
Cap Rate 9%
$1,971,844
$2.0M
Market Conditions
NOI Build-Up for 7,260 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
$335.4K $46.20/SF
− Vacancy
−$12.7K −$1.76/SF
EGI
$322.7K $44.44/SF
− OpEx
−$145.2K −$20.00/SF
NOI
$177.5K $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%
$3,549,320
Cap Rate 7%
$2,535,229
Cap Rate 9%
$1,971,844
Alternative Uses
Best Use
Apartment 5plus
$2.54M
$2.22M – $2.96M
NOI $177,466 @ 7.0% cap · market cap 5.38%
Second Best
Retail
$1.85M
$1.62M – $2.16M
NOI $129,591 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$5.35M
$4.68M – $6.24M
NOI $374,651 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
7
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,275
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick construction combines free-market residential units with commercial space in an established Ridgewood setting.
Where is this mixed-use property located?
The property is located at 2-97 St Nicholas Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Approximately 7,260 SF mixed‑use building; Seven residential units and two commercial units; All residential units are free market
