Mixed-Use Property with
For Sale
$2,300,000
568 Grandview Avenue, Ridgewood, NY 11385
Three residential levels provide one-, two-, and four-bedroom apartment layouts above a commercial storefront.
Property Size4,500 SF
Days on Market167
Property Features for 568 Grandview Avenue
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Commercial
Zoning
R6B
Taxes and HOA fees
Annual Taxes
$17,363
Building Details
Building Size
4,500 SF
Year Built
1917
Units
4
Listing Agency:
Jamie Realty Group
Listed By:
Xiao Zheng · License #10491212408
(718) 886-0668
Source:
Mydreamhomerealty
Added: Apr 6
Changed: Sep 18
Last Checked: Sep 18 at 2:30PM
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 Jamie Realty Group
Investment Insights
Based on property information with market context.
This mixed-use property at 568 Grandview Avenue combines a commercial storefront with three residential apartments. The first-floor apartment has one bedroom, one full bathroom, a living/dining room, and a kitchen. The second-floor unit includes two bedrooms, one full bathroom, a living/dining room, and a kitchen, while the third-floor apartment offers four bedrooms with the same common-area and kitchen configuration. The property is zoned R6B and was built in 1917.
Four garages are included, with two currently vacant and two occupied. The first- and third-floor apartment leases end 9/30/26; the storefront and second-floor apartment have no lease. The landlord pays water and heat, while tenants pay all other utilities. The property is located at the intersection of Grandview Avenue in Ridgewood, NY 11385.
Four garages are included, with two currently vacant and two occupied. The first- and third-floor apartment leases end 9/30/26; the storefront and second-floor apartment have no lease. The landlord pays water and heat, while tenants pay all other utilities. The property is located at the intersection of Grandview Avenue in Ridgewood, NY 11385.
Key Highlights
- Mixed‑use building with a commercial storefront and three residential apartments
- Residential units include 1, 2, and 4 bedrooms
- Four garages; 2 are vacant and 2 are occupied
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$110,000
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,200,000
$2.2M
Cap Rate 7%
$1,571,429
$1.6M
Cap Rate 9%
$1,222,222
$1.2M
Market Conditions
NOI Build-Up for 4,500 SF
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.
Gross rent
$207.9K $46.20/SF
− Vacancy
−$7.9K −$1.76/SF
EGI
$200.0K $44.44/SF
− OpEx
−$90.0K −$20.00/SF
NOI
$110.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,200,000
Cap Rate 7%
$1,571,429
Cap Rate 9%
$1,222,222
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.38M – $1.83M
NOI $110,000 @ 7.0% cap · market cap 4.78%
Second Best
Retail
$1.15M
$1.00M – $1.34M
NOI $80,325 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$3.32M
$2.90M – $3.87M
NOI $232,222 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,612
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three residential levels provide one-, two-, and four-bedroom apartment layouts above a commercial storefront.
Where is this mixed-use property located?
The property is located at 568 Grandview Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Mixed‑use building with a commercial storefront and three residential apartments; Residential units include 1, 2, and 4 bedrooms; Four garages; 2 are vacant and 2 are occupied
