Adjacent Mixed-Use Walk-Up
56-15 Catalpa Avenue Ridgewood, NY 11385
For Sale
Contact for pricing
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$386.67
Days on Market89
Property Features for 56-15 Catalpa Avenue
General Information
- Standard status
- Active
- Size
- 11,250 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1930
Listing Agency:
Meridian Capital Group
(646) 502-3481
Listed By:
Eugene Kim · License #NY 40KI1106013
Source:
Crexi
Added: Apr 27
Changed: Jul 23
Last Checked: Jul 23 at 1:43PM
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
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 For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $519.8k | $46.20 |
| − Vacancy | −$19.8k | −$1.76 |
| EGI | $500.0k | $44.44 |
| − OpEx | −$225.0k | −$20.00 |
| NOI | $275.0k | $24.44 |
11,250 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.93M
$3.44M – $4.58M
NOI $275,000 @ 7.0% cap · market cap 6.32%
Second Best
Retail
$2.87M
$2.51M – $3.35M
NOI $200,813 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$8.29M
$7.26M – $9.68M
NOI $580,554 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Threading Reflection
Hair Salon
FAQs
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 Catalpa Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $4,350,000.
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
