Vacant Commercial Mixed-Use
For Sale
$1,190,000
7020 60th Lane, Ridgewood, NY 11385
The property includes an unoccupied commercial unit and carries R5B zoning.
Property Size2,200 SF
Days on Market41
Property Features for 7020 60th Lane
General Information
Standard status
Active
Size
2,200 SF
Total Parking Spaces
2
Property subtype
Commercial
Zoning
R5B
Taxes and HOA fees
Annual Taxes
$7,097
Building Details
Building Size
2,200 SF
Year Built
1910
Units
3
Listing Agency:
Realty Depot LLC
(718) 896-0777
Listed By:
Gregory A. Yadgaroff
(718) 896-0777
Source:
Cornerstonemyhome
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 28 at 2:15PM
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 Realty Depot LLC
Investment Insights
Based on property information with market context.
This mixed-use property at 7020 60th Lane includes a currently vacant commercial unit and was built in 1910. The asset is zoned R5B, providing a defined land-use designation for evaluation by prospective purchasers.
The property is located in Ridgewood, near shopping and major transportation routes. Its combination of mixed-use classification and available commercial space supports consideration by an owner-occupant or investor, subject to applicable zoning and property review.
The property is located in Ridgewood, near shopping and major transportation routes. Its combination of mixed-use classification and available commercial space supports consideration by an owner-occupant or investor, subject to applicable zoning and property review.
Key Highlights
- Vacant commercial unit within a mixed‑use property
- R5B zoning designation
- Built in 1910
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
$39,270
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
3.30%
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%
$785,400
$785.4K
Cap Rate 7%
$561,000
$561.0K
Cap Rate 9%
$436,333
$436.3K
Market Conditions
NOI Build-Up for 2,200 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
$66.0K $30.00/SF
− Vacancy
−$9.9K −$4.50/SF
EGI
$56.1K $25.50/SF
− OpEx
−$16.8K −$7.65/SF
NOI
$39.3K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$785,400
Cap Rate 7%
$561,000
Cap Rate 9%
$436,333
Alternative Uses
Best Use
Retail
$561.0K
$490.9K – $654.5K
NOI $39,270 @ 7.0% cap · market cap 3.30%
Second Best
Mixed Use
$404.5K
$353.9K – $471.9K
NOI $28,314 @ 7.0% cap · market cap 2.38%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,531 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,162
Businesses Nearby
146k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 49%
Shops & Services 28%
Dining 14%
Apparel 3%
Stop & Shop
Groceries
45,201 visits/mo
0.4 miles
Key Food
Groceries
16,993 visits/mo
0.2 miles
TD Bank
Shops & Services
15,742 visits/mo
0.2 miles
Chase Bank
Shops & Services
10,079 visits/mo
0.2 miles
Met Food
Groceries
10,032 visits/mo
0.3 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property includes an unoccupied commercial unit and carries R5B zoning.
Where is this mixed-use property located?
The property is located at 7020 60th Lane Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Vacant commercial unit within a mixed‑use property; R5B zoning designation; Built in 1910
