71-08 Fresh Pond Rd Queens, NY 11385

This exceptional mixed-use property in Ridgewood, Queens, presents a compelling investment opportunity. Located just off bustling Myrtle Avenue, this 3,299 square foot building boasts a prime location near major national retailers and the M subway line, ensuring high visibility and accessibility. The property includes a ground floor retail space and two free-market apartments, currently offering 100% occupancy. A significant advantage is the inclusion of an additional 1,100 square foot basement and a rear yard, providing ample potential for expansion or additional income streams. Recent renovations in 2023 encompass the roof and electrical systems, minimizing immediate maintenance concerns. The property is currently generating a projected net operating income (NOI) of $132,241, translating to a 7.52% capitalization rate based on the asking price of $1,759,000. The property is classified as Tax Class 2A. This turnkey investment is delivered 100% vacant, allowing for immediate customization and tenant selection to maximize returns. This presents a rare chance to acquire a well-maintained, high-performing asset in a rapidly developing neighborhood. The property's strong financials and strategic location make it an ideal addition to any investment portfolio.