Live-Work Property with
For Sale
$2,300,000
6279 60th Street, Ridgewood, NY 11385
Two vacant two-bedroom residences are paired with a garage whose proposed use requires independent legal review.
Property Size3,375 SF
Price / SF$681.48
Days on Market67
Property Features for 6279 60th Street
General Information
Standard status
Active
Size
3,375 SF
Property subtype
Commercial
Zoning
R5B
Taxes and HOA fees
Annual Taxes
$6,573
Building Details
Building Size
3,375 SF
Year Built
1920
Buildings
2
Units
3
Construction
frame
Listing Agency:
Crifasi Real Estate Inc
(718) 894-8700
Listed By:
Salvatore Crifasi · License #31CR0315651
(646) 554-7788
Source:
Croninreale
Added: Aug 20
Changed: Oct 23
Last Checked: Oct 23 at 3:59PM
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 live-work property includes a two-family frame building with two two-bedroom residences, both vacant. A separate 2,500-square-foot garage has a 12-foot ceiling and a 10-foot overhead door. The property is to be delivered vacant at closing.
Zoned R5B and built in 1920, the property combines residential space with a sizable garage. Any proposed use of the garage is subject to the buyer’s review of its legal status.
Zoned R5B and built in 1920, the property combines residential space with a sizable garage. Any proposed use of the garage is subject to the buyer’s review of its legal status.
Key Highlights
- Two‑family frame building with two vacant two‑bedroom residences
- 2,500‑square‑foot garage with a 12‑foot ceiling
- Garage has a 10‑foot overhead door; proposed use requires buyer verification of legalities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$111,118
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,222,360
$2.2M
Cap Rate 7%
$1,587,400
$1.6M
Cap Rate 9%
$1,234,644
$1.2M
Market Conditions
NOI Build-Up for 3,375 SF
Gross rent
$170.1K $50.40/SF
− Vacancy
−$21.9K −$6.50/SF
EGI
$148.2K $43.90/SF
− OpEx
−$37.0K −$10.97/SF
NOI
$111.1K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,222,360
Cap Rate 7%
$1,587,400
Cap Rate 9%
$1,234,644
Alternative Uses
Best Use
Office B
$1.59M
$1.39M – $1.85M
NOI $111,118 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$1.18M
$1.03M – $1.38M
NOI $82,500 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$2.49M
$2.18M – $2.90M
NOI $174,166 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,771
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 Office in Northeast region
Frequently Asked Questions
What type of property is this?
Live-work space - Two vacant two-bedroom residences are paired with a garage whose proposed use requires independent legal review.
Where is this live-work space located?
The property is located at 6279 60th Street 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: Two‑family frame building with two vacant two‑bedroom residences; 2,500‑square‑foot garage with a 12‑foot ceiling; Garage has a 10‑foot overhead door; proposed use requires buyer verification of legalities
