Triple-Frontage Mixed-Use
New
For Sale
$2,998,000
6419 Myrtle Ave, Ridgewood, NY 11385
Commercial Sale, Ridgewood, NY
Property Size6,000 SF
Lot Size0.12 Acres
Price / SF$499.67
Days on Market1
Property Features for 6419 Myrtle Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Corner Lot
High school district
000000
Directions
Google Maps
Standard status
Active
APN
000000-000.000-3639-026.000
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
59848
Utilities
Heating system
Natural Gas, Hot Water(Heating)
Building Details
Year built
1931
Floors in Building
2
Building materials
Brick
Listing Agency:
PRIME AMERICA REAL ESTATE INC
(347) 725-3142
Listed By:
Gobinda Lama · License #10311207567
(718) 975-1107
Added: Sep 3
Last Checked: Sep 3 at 9:06PM
MLS# 11962558
Copyright © 2026 My State 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 commercial property includes approximately 4,000 SF of land and approximately 6,000 SF of existing above-grade building area. The brick structure, built in 1931, contains commercial and professional office space, with most of the building currently vacant. A sushi restaurant remains occupied within the property, providing an existing operating component.
The site occupies a prominent position along Myrtle Avenue, 64th Place, and Cypress Hills St in Ridgewood’s active commercial corridor. The three street exposures provide access and visibility from multiple sides. The property is located within R5D/C1-3 zoning, and the existing configuration combines office, restaurant, and other commercial space under one tax lot.
The site occupies a prominent position along Myrtle Avenue, 64th Place, and Cypress Hills St in Ridgewood’s active commercial corridor. The three street exposures provide access and visibility from multiple sides. The property is located within R5D/C1-3 zoning, and the existing configuration combines office, restaurant, and other commercial space under one tax lot.
Key Highlights
- Triple street exposure along Myrtle Avenue, 64th Place, and Cypress Hills St
- Approximately 6,000 SF of existing above‑grade building area
- Approximately 4,000 SF of land
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
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 - Brick mixed-use property with vacant office space and an occupied sushi restaurant.
Where is this mixed-use property located?
The property is located at 6419 Myrtle Ave 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: Triple street exposure along Myrtle Avenue, 64th Place, and Cypress Hills St; Approximately 6,000 SF of existing above‑grade building area; Approximately 4,000 SF of land
