Mixed-Use Building with
New
For Sale
$2,175,000
552 Grandview Ave., Ridgewood, NY 11385
Residential Income, Ridgewood, NY
Property Size3,875 SF
Lot Size0.05 Acres
Price / SF$561.29
Days on Market2
Property Features for 552 Grandview Ave.
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 3
Interior features
Entrance Foyer
Subdivision
Ridgewood
High school district
24
Standard status
Active
APN
03383-0041
Size
3,875 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
34717
Utilities
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Flooring type
Hardwood
Building materials
Wood Siding
Architectural style
Other
Listing Agency:
CRIFASI REAL ESTATE INC
(718) 821-5999
Listed By:
Joseph V. Crifasi · License #30CR1126424
(718) 930-0040
Added: Oct 15
Changed: Oct 16
Last Checked: Oct 16 at 4:06PM
MLS# 12028624
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The 3,875-square-foot mixed-use building combines a ground-floor bar with two apartments above. The bar has a main area, a pool-table section, and a distinct rear room with a stage. A full basement and natural-gas hot-water heat are also part of the property. Built in 1930, the building sits on a 0.0545-acre lot.
The second floor contains a two-bedroom apartment with an eat-in kitchen, living room, and full bath, plus a three-bedroom apartment with an eat-in kitchen, living room, and full bath. The three-bedroom unit will be vacant at closing; the two-bedroom unit is leased through August 31. Both apartment tenants pay their own heating costs.
The bar lease runs through March 31, 2031, with a 3% rent increase each April 1. The commercial tenant pays 77% of property taxes, 61% of water charges, and its heat expenses. The property is in Ridgewood, Queens, near shopping, dining, and public transportation.
The second floor contains a two-bedroom apartment with an eat-in kitchen, living room, and full bath, plus a three-bedroom apartment with an eat-in kitchen, living room, and full bath. The three-bedroom unit will be vacant at closing; the two-bedroom unit is leased through August 31. Both apartment tenants pay their own heating costs.
The bar lease runs through March 31, 2031, with a 3% rent increase each April 1. The commercial tenant pays 77% of property taxes, 61% of water charges, and its heat expenses. The property is in Ridgewood, Queens, near shopping, dining, and public transportation.
Key Highlights
- 3,875‑square‑foot mixed‑use building on a 0.0545‑acre lot
- Ground‑floor bar includes a pool‑table area and separate rear room with a stage
- Two second‑floor apartments: one with 2 bedrooms and one with 3 bedrooms
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two upper-floor apartments complement a ground-level bar with a separate rear event room and stage.
Where is this mixed-use property located?
The property is located at 552 Grandview Ave. 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: 3,875‑square‑foot mixed‑use building on a 0.0545‑acre lot; Ground‑floor bar includes a pool‑table area and separate rear room with a stage; Two second‑floor apartments: one with 2 bedrooms and one with 3 bedrooms
