Mixed-Use Building with
New
For Sale
$2,175,000
552 Grandview Avenue, Ridgewood, NY 11385
Two upstairs apartments add residential space above a ground-floor bar with separate gathering areas.
Property Size3,875 SF
Days on Market4
Property Features for 552 Grandview Avenue
General Information
Standard status
Active
Size
3,875 SF
Property subtype
Mixed Use
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$34,717
Building Details
Building Size
3,875 SF
Year Built
1930
Listing Agency:
Crifasi Real Estate Inc
Listed By:
Joseph V. Crifasi · License #30CR1126424
(718) 930-0040
Source:
Serhant
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 16 at 1:58PM
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.
At 552 Grandview Avenue, this 1930-built mixed-use property combines a ground-floor bar with two second-floor apartments. The bar includes a main room, a pool table area, and a separate rear room with a stage. A full basement and gas heat are also part of the property. The commercial lease runs through 3/31/2031 and provides for 3% increases each April 1. The commercial tenant pays 77% of property taxes, 61% of water charges, and its own heat expenses.
Apartment 2A has an eat-in kitchen, living room, two bedrooms, and a full bath. Apartment 2B includes an eat-in kitchen, living room, three bedrooms, and one full bathroom, and will be vacant on title. Both residential tenants pay their own heat. The property is in Ridgewood, Queens, with shopping, dining, and public transportation nearby.
Apartment 2A has an eat-in kitchen, living room, two bedrooms, and a full bath. Apartment 2B includes an eat-in kitchen, living room, three bedrooms, and one full bathroom, and will be vacant on title. Both residential tenants pay their own heat. The property is in Ridgewood, Queens, with shopping, dining, and public transportation nearby.
Key Highlights
- Ground‑floor bar has a main room, pool table area, and separate rear room with stage
- Two second‑floor apartments: one with 2 bedrooms and one with 3 bedrooms
- Commercial lease ends 3/31/2031, with 3% increases each April 1
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$179,345
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,829
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two upstairs apartments add residential space above a ground-floor bar with separate gathering areas.
Where is this mixed-use property 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: Ground‑floor bar has a main room, pool table area, and separate rear room with stage; Two second‑floor apartments: one with 2 bedrooms and one with 3 bedrooms; Commercial lease ends 3/31/2031, with 3% increases each April 1
