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683 Woodward Ave, Ridgewood, NY 11385
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Property summary
AI-generated overview
Located in Ridgewood, Queens, 683 Woodward Avenue is a mixed-use, pre-war character building totaling approximately 5,650 square feet. The ground floor includes an expansive commercial space of approximately 2,500 square feet with an open floor plan, historically used as a woolen cloth factory, and a 1,575 square foot basement suitable for storage or utility use. The second floor provides approximately 1,575 square feet of residential space divided into two apartments, each configured in a railroad-style layout with two bedrooms and one bathroom. The property is situated in an R6B residential zoning district with a C1-4 commercial overlay and includes air rights with potential for vertical enlargement or redevelopment; preliminary analysis indicates a maximum buildable area of approximately 10,250 square feet. The site is positioned along the Woodward and Myrtle Avenue corridors near neighborhood retail and dining options, with transit access providing connectivity to Brooklyn and Manhattan.
Property profile
Verified
Property type
Other industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1931
Total area
4,500 SF
Lot
0.06 ac (2,504 SF)
Zoning code
R6B
APN
03478-0006
UPID
US63-0745669
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Textile Manufacturer
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$310k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$320k
Owner & transaction history
since 2000
1 recorded transaction
Zoning & alternative use
R6B · Flushing, NY
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 9 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$320k
Value range
$288k – $352k
±10% around blend
Estimated value / SF
$71 / SF
Confidence
High
9 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
90
Income certainty
100
$288k
blend $320k
$352k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,500 SF
Lot area
0.06 ac
Year built
1931
Stories
3
APN
03478-0006
Zoning
R6B
Assessed value
$154,350
Annual tax
$15,929
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$15,929
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.60M
Weighted, 9 comps · high confidence
Evidence
9 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.4 mi away · 4,094 SF
3.9 mi away · 3,700 SF
5.6 mi away · 3,963 SF
10.4 mi away · 5,000 SF
13.3 mi away · 3,812 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$320k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 20 sales
$532
-87%
Submarket 72 sales
$460
-85%
County 156 sales
$398
-82%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $71/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 9 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
6.91%
Selected cap rate for this other industrial properties
Derived from the Ridgewood market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.91%
9.0%
NOI (est.)
$138k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.00M
Move the market yield to see immediate price impact.
Value / SF
$444
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
6.41%6.91%7.41%
$124k
$1.94M
$1.80M
$1.68M
$138k
$2.15M
$2.00M
$1.86M
$152k
$2.37M
$2.20M
$2.05M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
9 found
High confidence · county-verified
Closest comparable
$1.50M
3.4 mi · Feb 2026 · $395/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$15,929
Tax year 2024
Assessed value
$154,350
Assessed 2024
Previous assessed
$148,770
+3.8% YoY
Effective rate
10.32%
On assessed value
Assessed land
$51,300
Assessed improvement
$103,050
Land market value
$114,000
Improvement market value
$229,000
Total market value
$343,000
Applied tax rate
4.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Sale
Year built
1931
Heating
NONE
Buildings
1
Stories
3
Units
3
Total area
4,500 SF
Lot
0.06 ac (2,504 SF)
Zoning code
R6B
APN
03478-0006
UPID
US63-0745669
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6B · Flushing, NYZoning R6B · permitted uses
R6B · Flushing, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1931
Heating
NONE
Stories
3
Buildings
1
Units
3
Lot
0.06 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R6B
Jurisdiction
Flushing, NY
Recorded code
R6B
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
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Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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