Corner Mixed-Use Building For
5-66 Onderdonk Ave, Ridgewood, NY 11385
Income-producing, gut-renovated mixed-use building in a strong residential corridor.
Type:Mixed Use, Multifamily, Retail
Property size:
5,625 SFPrice / SF:
$546/SF- Added:
- Feb 25, 2026
- Days on Market:
- 80
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 5-66 Onderdonk Ave
General Information
- Standard status
- Active
- Size
- 5,625 SF
- Property subtype
- Mixed Use, Multifamily, Retail
Building Details
- Year Built
- 1931
Listing agent Daniel Barcelowsky License #NY
Listing office Evergreen Realty and Investments
Listing date Feb 25, 2026
Source Crexi
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 Evergreen Realty and Investments
HighLights
- Strong in‑place income: $255,954 annual gross with upside; NOI: $202,597; 6.59% cap rate at asking.
- Corner mixed‑use building in a strong residential and retail corridor.
- Fully gut‑renovated building with four spacious two‑bedroom apartments and two established commercial spaces.
- Mechanically modernized with low deferred maintenance profile; major capital improvements already completed.
- Stable tenant mix; commercial tenants cover 40% of property taxes + 50% of DEP Charges.
- Minutes to Bushwick and Williamsburg, blocks from the L and M trains.
Overview
This corner mixed-use building is located in a strong residential and retail corridor. The fully gut-renovated building is an income-producing asset. It features four spacious two-bedroom apartments with hardwood floors and two established commercial spaces currently occupied by a daycare and a restaurant. The building also includes a fully finished basement with two offices and a private bathroom. The building has approximately 5,625 square feet. The first floor measures approximately 25 feet by 100 feet, while the second and third floors are approximately 25 feet by 64 feet. The property generates a strong in-place income of $255,954 annual gross with upside. The NOI is $202,597, representing a 6.59% cap rate at the asking price and a 7.06% potential cap rate. The property is well-maintained and professionally managed, with a stable tenant mix. Commercial tenants cover 40% of property taxes and 50% of DEP charges. The property is surrounded by established restaurants, cafés, and neighborhood businesses, and is located minutes from Bushwick and Williamsburg, and blocks from the L and M trains. It is an exceptional long-term investment opportunity in one of Queens’ most sought-after neighborhoods. All boilers have been replaced within the last 5 years. Plumbing and electrical systems were upgraded within approximately the last 20 years, and the exterior masonry was pointed within approximately the last 20 years. Major capital improvements have already been completed, and the property is mechanically modernized with a low deferred maintenance profile.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$2.89M
NOI $260,339 @ 9.00% cap · cautious / downside scenario
Moderate
$3.72M
NOI $260,339 @ 7.00% cap · market / base-case scenario
Aggressive
$5.21M
NOI $260,339 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $371.3k | $66.00 |
| − Vacancy | −$24.1k | −$4.29 |
| EGI | $347.1k | $61.71 |
| − OpEx | −$86.8k | −$15.43 |
| NOI | $260.3k | $46.28 |
5,625 SF · lease $66.00/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$3.72M
$3.25M – $4.34M
NOI $260,339 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$1.96M
$1.72M – $2.29M
NOI $137,500 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$4.15M
$3.63M – $4.84M
NOI $290,277 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Ridgewood
- County
- Queens
- State
- New York
- Longitude
- -73.919294
- Latitude
- 40.711404
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Income-producing, gut-renovated mixed-use building in a strong residential corridor.
Where is this mixed-use property located?
The property is located at 5-66 Onderdonk Ave Ridgewood, NY.
What is the asking price?
The asking price for this property is $3,075,000.
What are key features of this property?
This property features: Strong in‑place income: $255,954 annual gross with upside; NOI: $202,597; 6.59% cap rate at asking.; Corner mixed‑use building in a strong residential and retail corridor.; **Fully gut‑renovated building with four spacious two‑bedroom apartments and two established commercial spaces.**
