Mixed-Use Property with
60-98 69th Ave, Ridgewood, NY 11385
For Sale
$1,799,000
Two apartments complement the ground-floor retail spaces and a separate rear commercial unit.
Property Size3,480 SF
Price / SF$516.95
Days on Market11
Property Features for 60-98 69th Ave
General Information
Standard status
Size
Property subtype
Site & Location
Corner Location
Public Transit
Mixed-Use Components
Additional Details
Multifamily Units
Tenant in Place
Building Details
Year Built
Construction
Tenancy
Listing Agency:
Crifasi Real Estate Inc
Listed By:
Joseph V. Crifasi · License #30CR1126424
(718) 821-5999
Source:
Searchhomesinlongisland
Added: Oct 30
Changed: Nov 8
Last Checked: Nov 8 at 4:00PM
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 Crifasi Real Estate Inc
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Investment Insights
Based on property information with market context.
This brick corner property in Ridgewood combines two ground-floor storefronts, a separate one-story commercial unit at the rear, and two apartments. Both storefronts are scheduled to be vacant at closing. The residential units are configured as a 4-room apartment and a 5-room apartment; both are currently rented. The building dates to 1931.
Located at 60-98 69th Ave, the property sits in a commercial corridor with local businesses, restaurants, cafes, and neighborhood services. The Myrtle–Wyckoff Avenues Station, served by the L and M subway lines, is accessible from the property, and bus lines operate in the immediate area.
Located at 60-98 69th Ave, the property sits in a commercial corridor with local businesses, restaurants, cafes, and neighborhood services. The Myrtle–Wyckoff Avenues Station, served by the L and M subway lines, is accessible from the property, and bus lines operate in the immediate area.
Key Highlights
- Two ground‑floor storefronts to be delivered vacant at closing
- Separate one‑story commercial unit at the rear
- Two rented apartments: one 4‑room and one 5‑room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,067
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,701,340
$1.7M
Cap Rate 7%
$1,215,243
$1.2M
Cap Rate 9%
$945,189
$945.2K
Market Conditions
NOI Build-Up for 3,480 SF
Gross rent
$160.8K $46.20/SF
− Vacancy
−$6.1K −$1.76/SF
EGI
$154.7K $44.44/SF
− OpEx
−$69.6K −$20.00/SF
NOI
$85.1K $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 Rate 5%
$1,701,340
Cap Rate 7%
$1,215,243
Cap Rate 9%
$945,189
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.06M – $1.42M
NOI $85,067 @ 7.0% cap · market cap 4.73%
Second Best
Retail
$887.4K
$776.5K – $1.04M
NOI $62,118 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$2.57M
$2.24M – $2.99M
NOI $179,585 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,590
Businesses Nearby
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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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Market
Properties on Market for Mixed-use properties in Ridgewood
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two apartments complement the ground-floor retail spaces and a separate rear commercial unit.
Where is this mixed-use property located?
The property is located at 60-98 69th Ave Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Two ground‑floor storefronts to be delivered vacant at closing; Separate one‑story commercial unit at the rear; Two rented apartments: one 4‑room and one 5‑room
