Brick Mixed-Use
New
For Sale
$1,628,000
58-05 69th Avenue, Ridgewood, NY 11385
Semi-detached building combines a separately entered medical office with an upper-level residential dwelling.
Property Size5,070 SF
Days on Market5
Property Features for 58-05 69th Avenue
General Information
Standard status
Active
Size
5,070 SF
Property subtype
Duplex
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$8,701
Building Details
Building Size
5,070 SF
Year Built
1901
Construction
brick
Tenancy
Multi
Listing Agency:
Winzone Realty Inc
Listed By:
Xiao Feng Pan CBR · License #31PA0929296
(718) 899-7000
Source:
Serhant
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 12 at 10:20AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
This semi-detached brick mixed-use property contains two distinct dwellings. The ground-floor space is arranged as a doctor's office with a private entrance and direct connection to the basement. Above, the residential unit includes 5 bedrooms and 2 bathrooms, providing a substantial living configuration within the building.
Each unit is served by its own utility meters and boiler, creating separate building systems for the two occupancies. The property is positioned near the Seneca, Fresh Pond M, and Myrtle/Wyckoff L subway stations, while shops, restaurants, and stores are located one block away. Built in 1901, the property combines medical-office functionality with residential use in a semi-detached brick structure.
Each unit is served by its own utility meters and boiler, creating separate building systems for the two occupancies. The property is positioned near the Seneca, Fresh Pond M, and Myrtle/Wyckoff L subway stations, while shops, restaurants, and stores are located one block away. Built in 1901, the property combines medical-office functionality with residential use in a semi-detached brick structure.
Key Highlights
- Two‑dwelling semi‑detached brick mixed‑use property
- Ground‑floor doctor's office has a separate entrance and basement access
- Second‑floor residence includes 5 bedrooms and 2 bathrooms
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
$123,933
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
7.61%
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%
$2,478,660
$2.5M
Cap Rate 7%
$1,770,471
$1.8M
Cap Rate 9%
$1,377,033
$1.4M
Market Conditions
NOI Build-Up for 5,070 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
$234.2K $46.20/SF
− Vacancy
−$8.9K −$1.76/SF
EGI
$225.3K $44.44/SF
− OpEx
−$101.4K −$20.00/SF
NOI
$123.9K $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%
$2,478,660
Cap Rate 7%
$1,770,471
Cap Rate 9%
$1,377,033
Alternative Uses
Best Use
Office B
$2.38M
$2.09M – $2.78M
NOI $166,924 @ 7.0% cap · market cap 10.25%
Second Best
Apartment 5plus
$1.77M
$1.55M – $2.07M
NOI $123,933 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$3.74M
$3.27M – $4.36M
NOI $261,636 @ 7.0% cap · market cap 16.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,590
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 Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Semi-detached building combines a separately entered medical office with an upper-level residential dwelling.
Where is this mixed-use property located?
The property is located at 58-05 69th Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,628,000.
What are key features of this property?
This property features: Two‑dwelling semi‑detached brick mixed‑use property; Ground‑floor doctor's office has a separate entrance and basement access; Second‑floor residence includes 5 bedrooms and 2 bathrooms
