Fully Gut-Renovated Corner Mixed-Use
566 ONDERDONK AVENUE, Ridgewood, NY 11385
COMMERCIAL - RIDGEWOOD, NY
Property size:
5,625 SFLot size:
0.06 AcresPrice / SF:
$546/SF- Added:
- Feb 25, 2026
- Days on Market:
- 129
- Last Refresh:
- Jul 4 at 1:06 am
Property Features for 566 ONDERDONK AVENUE
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bathrooms
- 6
- Rooms
- Bathroom 3, Bathroom 1, Bathroom 2, Bathroom 4, Bathroom 6, Bathroom 5
- Standard status
- Active Under Contract
- Lot size
- 0.06 Acres
Building Details
- Year built
- 1931
- Floors in Building
- 3
- Flooring type
- Hardwood
Listing agent Emma Barattini (646) 838-1378
Listing office EVERGREEN REALTY & INVESTMENTS 5825 Myrtle Avenue Office 2A, RIDGEWOOD, NY (646) 838-1378
Listing date Feb 25, 2026
MLS# 11662546
Listing URL
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.
HighLights
- Fully gut‑renovated mixed‑use building with four spacious 2‑bedroom apartments plus 2 commercial spaces (daycare and restaurant)
- 5,625 SF (approx) corner building: first floor ~25' x 100', second and third floors 25' x 64'
- Hardwood floors in the apartments; basement is fully finished with two offices and a private bathroom
- In‑place income of $255,954 annual gross; $202,597 annual gross with upside NOI reported and cap rate of 6.59% at asking (7.06% potential)
- Commercial tenants cover 40% of property taxes + 50% of DEP charges
- Major systems upgrades: all boilers replaced within last 5 years; plumbing, electrical, and exterior masonry pointed within approx. last 20 years
Overview
This fully gut-renovated corner mixed-use building includes four spacious two-bedroom apartments with hardwood floors, along with two established commercial spaces: a day care and a restaurant. A fully finished basement adds two offices and a private bathroom. The first floor is approximately 25' by 100', while the second and third floors are approximately 25' by 64', totaling an estimated 5,625 square feet.
Located in a strong residential and retail corridor, the property is surrounded by established restaurants, cafes, and neighborhood businesses. It is minutes to Bushwick and Williamsburg and is blocks from the L and M trains, supporting visibility and day-to-day foot traffic for the commercial tenants.
The current in-place income is reported at $255,954 annually gross, with upside NOI of $202,597 and cap rates of 6.59% at the asking price and 7.06% at potential. Commercial tenants are described as covering 40% of property taxes and 50% of DEP charges. Major capital improvements are already completed, including boiler replacements within the last five years and plumbing, electrical, and exterior masonry pointing within approximately the last 20 years.
Located in a strong residential and retail corridor, the property is surrounded by established restaurants, cafes, and neighborhood businesses. It is minutes to Bushwick and Williamsburg and is blocks from the L and M trains, supporting visibility and day-to-day foot traffic for the commercial tenants.
The current in-place income is reported at $255,954 annually gross, with upside NOI of $202,597 and cap rates of 6.59% at the asking price and 7.06% at potential. Commercial tenants are described as covering 40% of property taxes and 50% of DEP charges. Major capital improvements are already completed, including boiler replacements within the last five years and plumbing, electrical, and exterior masonry pointing within approximately the last 20 years.
Local Financial Insights For Specialty Retail
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 | $371.3k | $66.00 |
| − Vacancy | −$24.1k | −$4.29 |
| EGI | $347.1k | $61.71 |
| − OpEx | −$86.8k | −$15.43 |
| NOI | $260.3k | $46.28 |
5,625 SF · lease $66.00/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.72M
$3.25M – $4.34M
NOI $260,339 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$1.96M
$1.72M – $2.29M
NOI $137,500 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$4.15M
$3.63M – $4.84M
NOI $290,277 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Antonio's Food
Restaurant
Onderdonk Apartments
Apartment Building
Onderdonk & Sons
Bar & Pub
Location Insight
- Map
- Local Demand
- City
- Ridgewood
- County
- Queens
- State
- New York
- Longitude
- -73.910001
- Latitude
- 40.705405
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Corner mixed-use property with four two-bedroom apartments plus a daycare and restaurant, with recent mechanical and systems upgrades.
Where is this mixed-use property located?
The property is located at 566 ONDERDONK AVENUE Ridgewood, NY.
What is the asking price?
The asking price for this property is $3,075,000.
What are key features of this property?
This property features: Fully gut‑renovated mixed‑use building with four spacious 2‑bedroom apartments plus 2 commercial spaces (daycare and restaurant); 5,625 SF (approx) corner building: first floor ~25' x 100', second and third floors 25' x 64'; Hardwood floors in the apartments; basement is fully finished with two offices and a private bathroom
