Mixed-Use Property with
New
For Sale
$2,998,000
6419 Myrtle Avenue, Ridgewood, NY 11385
Commercial Sale, Ridgewood, NY
Property Size6,000 SF
Lot Size0.12 Acres
Price / SF$499.67
Days on Market2
Property Features for 6419 Myrtle Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R5DC1-3
Rooms
Basement
Basement
Finished, Full
Lot features
Corner Lot, Near Public Transit
Elementary school district
Queens 24
Middle school district
Queens24
High school district
Queens24
Directions
Google Map
Standard status
Active
APN
03639-0026
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
59848
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1931
Floors in Building
2
Number of units
5
Building materials
Brick
Listing Agency:
Prime America Real Estate Inc
(347) 725-3142
Listed By:
Natalie Ferrigno
(718) 791-1365
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 5:06PM
MLS# 1043787
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property includes approximately 6,000 square feet of above-grade space, with basement areas excluded from that figure. The current C of O identifies ground-floor retail or commercial use, three separately designated professional office spaces on the second floor, and accessory basement space. Existing ground-floor improvements include a medical or dental office, an occupied restaurant, and areas formerly used for dry cleaning and laundry. Brick construction, central air, natural-gas hot-water heating, public water, and public sewer are reported. Most commercial and office areas are currently vacant, while one restaurant space remains occupied.
The approximately 4,000-square-foot lot has about 50 feet of frontage on Myrtle Avenue and approximately 105 feet along 64th Place, with additional exposure along Cypress Hills Street. R5D/C1-3 zoning may provide additional development rights, subject to verification and applicable regulations.
The approximately 4,000-square-foot lot has about 50 feet of frontage on Myrtle Avenue and approximately 105 feet along 64th Place, with additional exposure along Cypress Hills Street. R5D/C1-3 zoning may provide additional development rights, subject to verification and applicable regulations.
Key Highlights
- Approximately 6,000 SF of above‑grade space, excluding basement areas
- Approximately 4,000‑square‑foot lot with 50 FT of Myrtle Avenue frontage
- Approximately 105 feet of frontage along 64th Place
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
$197,543
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
6.59%
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%
$3,950,860
$4.0M
Cap Rate 7%
$2,822,043
$2.8M
Cap Rate 9%
$2,194,922
$2.2M
Market Conditions
NOI Build-Up for 6,000 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
$302.4K $50.40/SF
− Vacancy
−$39.0K −$6.50/SF
EGI
$263.4K $43.90/SF
− OpEx
−$65.8K −$10.97/SF
NOI
$197.5K $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 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%
$3,950,860
Cap Rate 7%
$2,822,043
Cap Rate 9%
$2,194,922
Alternative Uses
Best Use
Specialty Retail
$3.97M
$3.47M – $4.63M
NOI $277,695 @ 7.0% cap · market cap 9.26%
Second Best
Office B
$2.82M
$2.47M – $3.29M
NOI $197,543 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$4.42M
$3.87M – $5.16M
NOI $309,629 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,916
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - R5D/C1-3 zoning accommodates retail, professional offices, and accessory basement space under the current C of O.
Where is this mixed-use property located?
The property is located at 6419 Myrtle Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $2,998,000.
What are key features of this property?
This property features: Approximately 6,000 SF of above‑grade space, excluding basement areas; Approximately 4,000‑square‑foot lot with 50 FT of Myrtle Avenue frontage; Approximately 105 feet of frontage along 64th Place
