Mixed-Use Property with Medical
For Sale
$2,650,000
351 Onderdonk Avenue, Ridgewood, NY 11385
A leased ground-floor medical suite is paired with apartments and a second building containing garages and another residence.
Property Size4,650 SF
Price / SF$569.89
Days on Market9
Property Features for 351 Onderdonk Avenue
General Information
Standard status
Active
Size
4,650 SF
Zoning
R6B
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/2BA, 1 x 2BR
Multifamily Units
3
Office Units
1
Additional Details
Floor
Ground Floor
Gross Income
$138,000
Tenant in Place
Yes
Property Use
Medical Office
Taxes and HOA fees
Annual Taxes
$5,589
Amenities
central A/C
2
No
Public
3
125
Other
4650
Building Details
Building Size
4,650 SF
Year Built
1901
Buildings
2
Stories
2
Construction
brick
Tenancy
Single
Listing Agency:
(516) 703-2918
Listed By:
Randy Kral
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 3:09PM
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 Randy Kral
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Investment Insights
Based on property information with market context.
The offering combines a brick corner building at DeKalb Avenue and Onderdonk Avenue with the adjoining property at 18-60 DeKalb Avenue. The main building has a 1,500-square-foot, Use Group 4 medical office on the ground floor, served by its own central A/C. Two two-bedroom, two-bath apartments occupy the second floor. The additional two-story structure includes three garages and a two-bedroom apartment above. Zoning is R6B.
The medical office has a 10-year lease with 3% annual increases. The two upper-floor apartments are currently unleased, and the apartment in the second building is occupied. The property is four blocks from the DeKalb L train and near Wyckoff Hospital.
The medical office has a 10-year lease with 3% annual increases. The two upper-floor apartments are currently unleased, and the apartment in the second building is occupied. The property is four blocks from the DeKalb L train and near Wyckoff Hospital.
Key Highlights
- 1,500‑square‑foot ground‑floor Use Group 4 medical office with central A/C
- Medical office leased on a 10‑year term with 3% annual increases
- Two upper‑level apartments, each with two bedrooms and two baths; both currently unleased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$153,096
Cap Rate
5.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,061,920
$3.1M
Cap Rate 7%
$2,187,086
$2.2M
Cap Rate 9%
$1,701,067
$1.7M
Market Conditions
NOI Build-Up for 4,650 SF
Gross rent
$234.4K $50.40/SF
− Vacancy
−$30.2K −$6.50/SF
EGI
$204.1K $43.90/SF
− OpEx
−$51.0K −$10.97/SF
NOI
$153.1K $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%
$3,061,920
Cap Rate 7%
$2,187,086
Cap Rate 9%
$1,701,067
Alternative Uses
Best Use
Office B
$2.19M
$1.91M – $2.55M
NOI $153,096 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$1.62M
$1.42M – $1.89M
NOI $113,667 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$3.43M
$3.00M – $4.00M
NOI $239,962 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
3
Residential units
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,465
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 - A leased ground-floor medical suite is paired with apartments and a second building containing garages and another residence.
Where is this mixed-use property located?
The property is located at 351 Onderdonk Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 1,500‑square‑foot ground‑floor Use Group 4 medical office with central A/C; Medical office leased on a 10‑year term with 3% annual increases; Two upper‑level apartments, each with two bedrooms and two baths; both currently unleased
