Mixed-Use Building with
For Sale
$2,175,000
552 Grandview Avenue, Ridgewood, NY 11385
Ground-floor bar space with a stage and pool table area, plus two residential apartments above.
Property Size3,875 SF
Days on Market130
Property Features for 552 Grandview Avenue
General Information
Standard status
Active
Size
3,875 SF
Property subtype
Commercial
Zoning
R6B
Taxes and HOA fees
Annual Taxes
$33,448
Building Details
Building Size
3,875 SF
Year Built
1930
Buildings
1
Stories
2
Units
3
Listing Agency:
Crifasi Real Estate Inc
(718) 930-0040
Listed By:
Joseph V. Crifasi
(718) 930-0040
Source:
Cohenandcohenrealty
Added: Apr 17
Changed: Aug 23
Last Checked: Aug 23 at 2:54AM
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
Investment Insights
Based on property information with market context.
Well-maintained mixed-use property featuring a spacious ground-floor commercial unit currently operating as a neighborhood bar. The layout includes a large main area with a pool table section and a separate rear room with a stage. A full basement and gas heat support the building’s overall operation.
The second floor consists of two residential apartments. Apt. 2A includes an eat-in kitchen, living room, two bedrooms, and a full bath, and is currently rented with a lease expiring 8/31. Apt. 2B will be vacant on title and includes an eat-in kitchen, living room, three bedrooms, and one full bathroom.
The commercial lease ends on 3/31/2031. Under the lease, the tenant pays 77% of property taxes, 61% of water charges, and heat expenses; both residential tenants pay their own heat.
The second floor consists of two residential apartments. Apt. 2A includes an eat-in kitchen, living room, two bedrooms, and a full bath, and is currently rented with a lease expiring 8/31. Apt. 2B will be vacant on title and includes an eat-in kitchen, living room, three bedrooms, and one full bathroom.
The commercial lease ends on 3/31/2031. Under the lease, the tenant pays 77% of property taxes, 61% of water charges, and heat expenses; both residential tenants pay their own heat.
Key Highlights
- Mixed‑use property (year built 1930) with ground‑floor commercial space plus two residential apartments on the 2nd floor
- Commercial unit currently operating as a neighborhood bar with a large main area, pool table area, and separate rear room with stage
- Commercial rent is $6,523/month with 3% increases each April 1; lease ends 3/31/2031
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
$179,345
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
8.25%
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%
$3,586,900
$3.6M
Cap Rate 7%
$2,562,071
$2.6M
Cap Rate 9%
$1,992,722
$2.0M
Market Conditions
NOI Build-Up for 3,875 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
$255.8K $66.00/SF
− Vacancy
−$16.6K −$4.29/SF
EGI
$239.1K $61.71/SF
− OpEx
−$59.8K −$15.43/SF
NOI
$179.3K $46.28/SF
Area
Queens County, NY
Vacancy
6.50%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
25.00%
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%
$3,586,900
Cap Rate 7%
$2,562,071
Cap Rate 9%
$1,992,722
Alternative Uses
Best Use
Specialty Retail
$2.56M
$2.24M – $2.99M
NOI $179,345 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$1.35M
$1.18M – $1.58M
NOI $94,722 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$2.86M
$2.50M – $3.33M
NOI $199,969 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,829
Businesses Nearby
Well-served
Demand for This Use
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 Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Ground-floor bar space with a stage and pool table area, plus two residential apartments above.
Where is this bar & pub located?
The property is located at 552 Grandview Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $2,175,000.
What are key features of this property?
This property features: Mixed‑use property (year built 1930) with ground‑floor commercial space plus two residential apartments on the 2nd floor; Commercial unit currently operating as a neighborhood bar with a large main area, pool table area, and separate rear room with stage; Commercial rent is $6,523/month with 3% increases each April 1; lease ends 3/31/2031
