Mixed-Use Building with
New
For Sale
$2,150,000
67-02 60th Street, Ridgewood, NY 11385
Three-story property combines commercial and residential space with private parking.
Property Size4,400 SF
Lot Size0.04 Acres
Price / SF$488.64
Days on Market5
Property Features for 67-02 60th Street
General Information
Standard status
Active
Size
4,400 SF
Total Parking Spaces
3
Lot size
0.04 Acres
Property subtype
MultiFamily Apartments
Zoning
R5B
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Building Size
4,400 SF
Buildings
1
Stories
3
Listing Agency:
Tri State Commercial Realty
(718) 437-6100
Listed By:
Shlomi Bagdadi · License #10311204539
(718) 437-6100
Source:
Thebrokerlist
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 12:58PM
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 Tri State Commercial Realty
Investment Insights
Based on property information with market context.
This three-story mixed-use building includes 1 commercial unit and 2 residential units, with 100% occupancy. The property sits on a 20 x 90 lot; the ground floor measures 20 x 90, while the upper floors measure 20 x 65. Additional features include ADA-compliant access, 3 private parking spots, and an opportunity for signage.
Located at 67-02 60th Street in Ridgewood, the building occupies the corner of 60th Street and 67th Avenue. The Forest Avenue subway station is nearby, with M train service and access to the B20, B13, Q39, Q14, Q98, and Q58 bus lines. The property is also in front of the Q58, B13, and B20 routes.
Located at 67-02 60th Street in Ridgewood, the building occupies the corner of 60th Street and 67th Avenue. The Forest Avenue subway station is nearby, with M train service and access to the B20, B13, Q39, Q14, Q98, and Q58 bus lines. The property is also in front of the Q58, B13, and B20 routes.
Key Highlights
- 100% occupancy across 1 commercial unit and 2 residential units
- 3‑story mixed‑use building with 20 x 90 lot dimensions
- Ground floor measures 20 x 90; upper floors measure 20 x 65
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
$107,555
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
5.00%
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%
$2,151,100
$2.2M
Cap Rate 7%
$1,536,500
$1.5M
Cap Rate 9%
$1,195,056
$1.2M
Market Conditions
NOI Build-Up for 4,400 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
$203.3K $46.20/SF
− Vacancy
−$7.7K −$1.76/SF
EGI
$195.6K $44.44/SF
− OpEx
−$88.0K −$20.00/SF
NOI
$107.6K $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 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%
$2,151,100
Cap Rate 7%
$1,536,500
Cap Rate 9%
$1,195,056
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.34M – $1.79M
NOI $107,555 @ 7.0% cap · market cap 5.00%
Second Best
Mixed Use
$809.0K
$707.9K – $943.8K
NOI $56,628 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$3.24M
$2.84M – $3.78M
NOI $227,061 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,766
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story property combines commercial and residential space with private parking.
Where is this mixed-use property located?
The property is located at 67-02 60th Street Ridgewood, NY.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 100% occupancy across 1 commercial unit and 2 residential units; 3‑story mixed‑use building with 20 x 90 lot dimensions; Ground floor measures 20 x 90; upper floors measure 20 x 65
