Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    20-17 Grove St Ridgewood, NY 11385

    • Office Properties & Spaces
    • 2,880 SF
    For Sale
    View listing
    $1,750,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 20-17 Grove St

    Property size
    2,880 SF
    Property type
    Office Properties & Spaces
    Property subtype
    Self storage facilities

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Ridgewood
    County
    Queens
    State
    New York
    Longitude
    -73.9065
    Latitude
    40.7078

    Comparable in this City

    • Value Estimation by Request

      17-17 Troutman St

      Refrigerated & Cold Storages
      17-17 Troutman St, Queens, NY 11385
      View Details
    • Value Estimation by Request
      10,755 SF

      48-05 Metropolitan Ave

      Flex space • 10,755 SF
      48-05 Metropolitan Ave, Queens, NY 11385
      View Details
    • Value Estimation by Request

      67-05 Fresh Pond Rd

      Coworking space
      67-05 Fresh Pond Rd, Queens, NY 11385
      View Details
    • Value Estimation
      $95,000
      820 SF

      5926 Bleecker St, Unit C1

      OFFICE (GENERAL) • 820 SF
      5926 Bleecker St, Flushing, NY 11385-2099
      View Details
    • Value Estimation
      $285,000
      1,008 SF

      5324 Metropolitan Ave, Unit M2C

      OFFICE (GENERAL) • 1,008 SF
      5324 Metropolitan Ave, Flushing, NY 11385-1245
      View Details
    • Value Estimation
      $395,000
      4,227 SF

      6401 Myrtle Ave

      OFFICE (GENERAL) • 4,227 SF
      6401 Myrtle Ave, Glendale, NY 11385-6237
      View Details

    Similar Nearby for Sale

    • $1,750,000
      2,880 SF

      20-17 Grove St

      Self storage facilities • 2,880 SF
      20-17 Grove St, Ridgewood, NY 11385
      View Details
    • $2,055,000
      5,870 SF

      Ridgewood Medical Office Condo

      High-yield medical office, 100% leased.
      311 St Nicholas Ave, Queens, NY 11385
      View Details
    • Contact for pricing
      70,000 SF

      Maspeth Warehouse with Modern Offices

      60,000 SF warehouse with 5,000 SF modern offices.
      52-15 Flushing Ave, Maspeth, NY 11385
      View Details
    • $4,528,000
      9,600 SF

      Renovated Corner Industrial Warehouse

      Renovated industrial warehouse in Glendale, Queens, suitable for various businesses.
      65-17 68Th Ave, Ridgewood, NY 11385
      View Details
    • $2,500,000

      Ridgewood Mixed-Use Investment Opportunity

      Four-unit mixed-use building in historic Ridgewood, Queens.
      1851 Madison St, Flushing, NY 11385
      View Details
    • $3,200,000
      5,586 SF

      Ridgewood Mixed-Use Investment Opportunity

      Mixed-use property near Myrtle–Wyckoff station with income upside.
      1670 Putnam Ave, Ridgewood, NY 11385
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,755 SF

      Metropolitan Ave Commercial Space

      Large Flex Space, Queens, NY
      48-05 Metropolitan Ave, Queens, NY 11385
      View Details
    • Contact for pricing
      12,000 SF

      Prime Queens Executive Office Space

      3,500 SF Available - Myrtle Ave
      55-05 Myrtle Ave, Ridgewood, NY 11385
      View Details
    • Contact for pricing
      24,000 SF

      Troutman Street Office Space

      24,000 sq ft Office/Industrial Space
      17-17 Troutman St, Queens, NY 11385
      View Details
    • $36 SF/Yr
      1,500 SF

      Ridgewood Office Space: 1500 sq ft

      Prime Ridgewood location, perfect for any office. Full storefront, ample space.
      881 Cypress Ave, Queens, NY 11385
      View Details
    • $2,300 /Mo
      376 SF

      Ridgewood Retail/Office Space For Lease

      376 SF retail/office space in Ridgewood, well-trafficked corridor.
      1829 Grove St, Ridgewood, NY 11385
      View Details
    • $30 SF/Yr
      900 SF

      Glendale Office: 900 sq ft

      Updated Glendale office, private entrance.
      64-32 Shaler Ave, Queens, NY 11385
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    20-17 Grove St
    Ridgewood, NY 11385
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.