Mixed-Use Building with Commercial Ground
683 Woodward Avenue Ridgewood, NY 11385
683 Woodward Avenue, Ridgewood, NY, 11385
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For Sale
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Approximately 5,650 sf mixed-use building with expansive ground-floor commercial space and two residential apartments upstairs.
Property Size5,650 SF
Price / SF$353.63
Days on Market139
Property Features for 683 Woodward Avenue
General Information
- Standard status
- Active
- Size
- 5,650 SF
- Property subtype
- Office
Building Details
- Year Built
- 1931
Listing agency
PRIME AMERICA REAL ESTATE INC
(646) 371-6141
Listed by
Gobinda Lama · License #10311207567
Source
Crexi
Added: Mar 4 Updated: Jul 21 at 6:13PM Checked: Jul 21 at 6:13PM
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 PRIME AMERICA REAL ESTATE INC
Investment Insights
Based on property information with market context.
This mixed-use building totals approximately 5,650 square feet and includes an expansive ground-floor commercial space of approximately 2,500 square feet. The ground level features an open layout and includes a substantial approximately 1,575-square-foot basement for storage or auxiliary use. The second floor provides approximately 1,575 square feet of residential living space, divided into two separate apartments, each with a railroad-style layout and two bedrooms and one bathroom.
The property is located in an R6B residential zone with a C1-4 commercial overlay. The listing notes significant air rights and expansion possibilities, with preliminary analysis suggesting a maximum buildable area of approximately 10,250 square feet, subject to buyer verification with their architect and zoning attorney.
The building is sold subject to existing configurations and lease statuses and is offered in as-is condition. Access and detailed inspections are to be arranged through the listing office.
The property is located in an R6B residential zone with a C1-4 commercial overlay. The listing notes significant air rights and expansion possibilities, with preliminary analysis suggesting a maximum buildable area of approximately 10,250 square feet, subject to buyer verification with their architect and zoning attorney.
The building is sold subject to existing configurations and lease statuses and is offered in as-is condition. Access and detailed inspections are to be arranged through the listing office.
Key Highlights
- Approximately 5,650 SF mixed‑use building with ground‑floor commercial space of approximately 2,500 SF and two apartments on the second floor.
- Ground level includes an open commercial layout formerly used as a woolen cloth factory, plus an approximately 1,575 SF basement for storage or auxiliary space.
- Second floor totals approximately 1,575 SF and is divided into two separate apartments with railroad‑style layouts, each offering 2 bedrooms and 1 bathroom.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $261.0k | $46.20 |
| − Vacancy | −$9.9k | −$1.76 |
| EGI | $251.1k | $44.44 |
| − OpEx | −$113.0k | −$20.00 |
| NOI | $138.1k | $24.44 |
5,650 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.97M
$1.73M – $2.30M
NOI $138,111 @ 7.0% cap · market cap 6.91%
Second Best
Retail
$1.44M
$1.26M – $1.68M
NOI $100,853 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$4.17M
$3.64M – $4.86M
NOI $291,567 @ 7.0% cap · market cap 14.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Simply Knitting Mills, ...
Textile Manufacturer
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FAQs
What type of property is this?
Duplex - Approximately 5,650 sf mixed-use building with expansive ground-floor commercial space and two residential apartments upstairs.
Where is this duplex located?
The property is located at 683 Woodward Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,998,000.
What are key features of this property?
This property features: Approximately 5,650 SF mixed‑use building with ground‑floor commercial space of approximately 2,500 SF and two apartments on the second floor.; Ground level includes an open commercial layout formerly used as a woolen cloth factory, plus an approximately 1,575 SF basement for storage or auxiliary space.; Second floor totals approximately 1,575 SF and is divided into two separate apartments with railroad‑style layouts, each offering 2 bedrooms and 1 bathroom.
