Duplex with Ground-Floor
For Sale
Under Contract
$1,650,000
6817 Forest Avenue, Ridgewood, NY 11385
MULTI_FAMILY - Ridgewood, NY
Property Size3,360 SF
Lot Size0.05 Acres
Price / SF$491.07
Days on Market526
Property Features for 6817 Forest Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 2
Subdivision
Ridgewood
Standard status
Active Under Contract
Lot size
0.05 Acres
Amenities
exclusive backyard access
commercial cooking gas line
finished basement
two garages
Building Details
Year built
1910
Floors in Building
2
Listing Agency:
EVERGREEN REALTY & INVESTMENTS
(646) 838-1378
Listed By:
Emma Barattini
(646) 838-1378
Added: Mar 13, 2025
Changed: Aug 3
Last Checked: Aug 20 at 6:06AM
MLS# 11450371
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 duplex mixed-use building includes two two-bedroom residential units plus a ground-floor retail space. The building totals 3,360 square feet and includes 1,680 square feet of retail. Each residential unit is supported by common building amenities, and the property also features a finished basement.
A commercial cooking gas line is included for the ground-floor space, and the ground floor comes with exclusive backyard access for the retail use. There are also two garages on-site.
Built in 1910, the property sits on a lot measuring 25.67' x 105.67' (0.0457 acres). Under the provided assumptions, the actual cap rate is 7.28%, and the potential cap rate is 9.87% with projected vacant rent.
A commercial cooking gas line is included for the ground-floor space, and the ground floor comes with exclusive backyard access for the retail use. There are also two garages on-site.
Built in 1910, the property sits on a lot measuring 25.67' x 105.67' (0.0457 acres). Under the provided assumptions, the actual cap rate is 7.28%, and the potential cap rate is 9.87% with projected vacant rent.
Key Highlights
- Total building area 3,360 SF with 1,680 SF ground‑floor retail space
- Two two‑bedroom residential units in the duplex
- Exclusive backyard access for the ground‑floor commercial space
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
$82,133
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
4.98%
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%
$1,642,660
$1.6M
Cap Rate 7%
$1,173,329
$1.2M
Cap Rate 9%
$912,589
$912.6K
Market Conditions
NOI Build-Up for 3,360 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
$155.2K $46.20/SF
− Vacancy
−$5.9K −$1.76/SF
EGI
$149.3K $44.44/SF
− OpEx
−$67.2K −$20.00/SF
NOI
$82.1K $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 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%
$1,642,660
Cap Rate 7%
$1,173,329
Cap Rate 9%
$912,589
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.03M – $1.37M
NOI $82,133 @ 7.0% cap · market cap 4.98%
Second Best
Retail
$856.8K
$749.7K – $999.6K
NOI $59,976 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$2.48M
$2.17M – $2.89M
NOI $173,392 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,590
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?
Duplex - Two two-bedroom residential units over 1,680 SF of ground-floor retail, with exclusive backyard access and commercial cooking gas line.
Where is this duplex located?
The property is located at 6817 Forest Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Total building area 3,360 SF with 1,680 SF ground‑floor retail space; Two two‑bedroom residential units in the duplex; Exclusive backyard access for the ground‑floor commercial space
