Adjacent Mixed-Use Walk-Up
For Sale
Contact for pricing
56-15/17 Catalpa Avenue, Ridgewood, NY 11385
Two adjacent walk-up mixed-use buildings with 16 rent-stabilized apartments, four retail units, and storage/garage units.
Property Size11,250 SF
Price / SF$364.44
Days on Market182
Property Features for 56-15/17 Catalpa Avenue
General Information
Standard status
Active
Size
11,250 SF
Property subtype
Mixed Use
Zoning
C4-3A, R6A Equivalent
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$311,181
Additional Details
Multifamily Units
16
Building Details
Year Built
1930
Buildings
2
Stories
3
Tenancy
Multi
Listing Agency:
Meridian Capital Group
Listed By:
Eugene Kim · License #NY 40KI1106013
(646) 502-3483
Source:
Crexi
Added: Apr 27
Changed: Oct 12
Last Checked: Oct 24 at 4:22PM
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 Meridian Capital Group
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Investment Insights
Based on property information with market context.
The offering includes two adjacent mixed-use walk-up buildings in Ridgewood, Queens, NY. The property totals 16 rent-stabilized apartments along with four retail units, providing residential and street-level income components within the same asset. In addition, there are six storage/garage units.
The buildings are positioned together for a combined acquisition, offering a single ownership structure for the residential units, retail space, and storage/garage inventory described in the materials.
This configuration supports a straightforward mix of uses across the buildings: apartments for the residential component, retail units for commercial tenancy, and dedicated storage/garage units that can serve on-site needs.
The buildings are positioned together for a combined acquisition, offering a single ownership structure for the residential units, retail space, and storage/garage inventory described in the materials.
This configuration supports a straightforward mix of uses across the buildings: apartments for the residential component, retail units for commercial tenancy, and dedicated storage/garage units that can serve on-site needs.
Key Highlights
- Two adjacent walk‑up mixed‑use buildings in Ridgewood, Queens, NY
- Includes 16 rent‑stabilized apartments
- Features 4 retail units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$275,000
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,500,000
$5.5M
Cap Rate 7%
$3,928,571
$3.9M
Cap Rate 9%
$3,055,556
$3.1M
Market Conditions
NOI Build-Up for 11,250 SF
Gross rent
$519.8K $46.20/SF
− Vacancy
−$19.8K −$1.76/SF
EGI
$500.0K $44.44/SF
− OpEx
−$225.0K −$20.00/SF
NOI
$275.0K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,500,000
Cap Rate 7%
$3,928,571
Cap Rate 9%
$3,055,556
Alternative Uses
Best Use
Apartment 5plus
$3.93M
$3.44M – $4.58M
NOI $275,000 @ 7.0% cap · market cap 6.71%
Second Best
Retail
$2.87M
$2.51M – $3.35M
NOI $200,813 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$8.29M
$7.26M – $9.68M
NOI $580,554 @ 7.0% cap · market cap 14.16%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
4,580
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
Check the figures for this property
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 adjacent walk-up mixed-use buildings with 16 rent-stabilized apartments, four retail units, and storage/garage units.
Where is this mixed-use property located?
The property is located at 56-15/17 Catalpa Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: Two adjacent walk‑up mixed‑use buildings in Ridgewood, Queens, NY; Includes 16 rent‑stabilized apartments; Features 4 retail units
