Prime Ridgewood Retail
5738 Myrtle Ave Ridgewood, NY
5738 Myrtle Ave, Ridgewood, NY, 00000
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For Sale
Contact for pricing
Recently renovated retail building with excellent transit access and future potential.
Property Size5,000 SF
Lot Size0.04 Acres
Price / SF$335
Days on Market310
Property Features for 5738 Myrtle Ave
General Information
- Standard status
- Active
- Size
- 5,000 SF
- Lot size
- 0.04 Acres
- Property subtype
- RETAIL
Listing Agency
RIPCO Real Estate - Queens
(516) 647-7155
Listed by
Stephen R. Preuss · License #NY 10401281448
(516) 647-7155
Source
Moodyscre
Added: Sep 15, 2025 Updated: Jul 6 at 10:52 am Checked: Jul 20 at 4:17 am
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 RIPCO Real Estate - Queens
Investment Insights
Based on property information with market context.
This multi-level building is located in a prime retail location on Myrtle Avenue in Ridgewood, benefiting from strong foot traffic, excellent visibility, and proximity to major national retailers and neighborhood amenities. The property has undergone extensive recent upgrades, including a new commercial kitchen, modern ADA-compliant restrooms on two levels, upgraded mechanical systems (400 amps, 2” gas, 1½” water), and a roof with a 20-year warranty. Zoned C4-3A (R6A), the property has approximately 1,155 square feet of additional as-of-right air rights. The property is minutes from the Myrtle–Wyckoff Avenues station, a major transit hub served by the M and L subway lines, providing direct access to Brooklyn, Manhattan, and Queens. Additional nearby bus routes further enhance connectivity. The building offers a high-quality turn-key build-out for an operator and is suitable for a long-term hold with future upside through expansion or repositioning.
Key Highlights
- Prime Ridgewood retail location on bustling Myrtle Avenue with strong foot traffic and excellent visibility.
- Recently renovated multi‑level building with significant capital upgrades, including a new commercial kitchen and ADA‑compliant restrooms.
- Excellent transit access via the M & L subway lines at Myrtle–Wyckoff Avenues station.
Local Financial Insights For 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 | $150.0k | $30.00 |
| − Vacancy | −$22.5k | −$4.50 |
| EGI | $127.5k | $25.50 |
| − OpEx | −$38.3k | −$7.65 |
| NOI | $89.3k | $17.85 |
5,000 SF · lease $30.00/SF/yr · vacancy 15.00% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$3.31M
$2.89M – $3.86M
NOI $231,413 @ 7.0% cap · market cap 13.82%
Second Best
Retail
$1.27M
$1.12M – $1.49M
NOI $89,250 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$3.69M
$3.23M – $4.30M
NOI $258,024 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Kazdan Bernard DO
Physician
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FAQs
What type of property is this?
Retail space - Recently renovated retail building with excellent transit access and future potential.
Where is this retail space located?
The property is located at 5738 Myrtle Ave Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: Prime Ridgewood retail location on bustling Myrtle Avenue with strong foot traffic and excellent visibility.; Recently renovated multi‑level building with significant capital upgrades, including a new commercial kitchen and ADA‑compliant restrooms.; Excellent transit access via the M & L subway lines at Myrtle–Wyckoff Avenues station.
