Corner Mixed-Use
For Sale
$1,899,000
60-98 69th Avenue, Ridgewood, NY 11385
R6B-zoned property combines vacant retail space, a rear commercial unit, and two residential apartments.
Property Size3,480 SF
Price / SF$545.69
Days on Market171
Property Features for 60-98 69th Avenue
General Information
Standard status
Active
Size
3,480 SF
Property subtype
Commercial
Zoning
R6B
Site & Location
Corner Location
Yes
Public Transit
Yes
Mixed-Use Components
retail, residential
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,604
Building Details
Building Size
3,480 SF
Year Built
1931
Buildings
1
Stories
3
Units
4
Construction
brick
Listed By:
Gail Leone
(914) 723-8228
Source:
Clairedleone
Added: May 8
Changed: Oct 23
Last Checked: Oct 23 at 5:45PM
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 Gail Leone
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Investment Insights
Based on property information with market context.
At 60-98 69th Avenue, this 3,480-square-foot brick corner property combines two ground-floor storefronts, a separate one-story commercial unit at the rear, and two apartments. The storefronts are scheduled to be vacant at closing. The residential units have four and five rooms, respectively. Built in 1931, the property is zoned R6B.
The building is in Ridgewood, Queens, amid a commercial corridor with local businesses, restaurants, cafes, and neighborhood services. The Myrtle–Wyckoff Avenues Station serves the area with L and M subway service, and multiple bus lines operate nearby.
The building is in Ridgewood, Queens, amid a commercial corridor with local businesses, restaurants, cafes, and neighborhood services. The Myrtle–Wyckoff Avenues Station serves the area with L and M subway service, and multiple bus lines operate nearby.
Key Highlights
- 3,480‑square‑foot mixed‑use property on a corner
- Two ground‑floor storefronts to be delivered vacant at closing
- Separate one‑story commercial unit at the rear
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,067
Cap Rate
4.48%
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 4.48%
Second Best
Retail
$887.4K
$776.5K – $1.04M
NOI $62,118 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$2.57M
$2.24M – $2.99M
NOI $179,585 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - R6B-zoned property combines vacant retail space, a rear commercial unit, and two residential apartments.
Where is this mixed-use property located?
The property is located at 60-98 69th Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: 3,480‑square‑foot mixed‑use property on a corner; Two ground‑floor storefronts to be delivered vacant at closing; Separate one‑story commercial unit at the rear
