Mixed-Use Corner Building in Ridgewood + Location: 297 St Nicholas Ave, Queens, NY 11385 + Property Type: Mixed-Use (7 Apartments + 2 Commercial Units + Basement) + Total Square Feet: 7,260 + Investment Opportunity: Outstanding Free-Market Investment Property Overview + 7 Apartments- Newly renovated, free-market 3 and 4-bedroom residential units. + + Apartment 1R- 4 Bedrooms, Living Room, EIK (Eat-In Kitchen), 1 Full Bath + + Other 6 Apartments (1F, 2F, 2R, 3F, 3R, 4F, 4R)- 3 Bedrooms, Living & Dining Room, EIK, 1 Full Bath + 2 Commercial Units - + + Laundromat (800 sq ft) + + Vacant store (150 sq ft) + + Basement- Additional space for storage or potential use Prime Location + Situated on a corner lot at the Ridgewood/Bushwick border + Within 1 block of shopping, eateries, restaurant services, bus stops, and subway stations (L and M trains at Myrtle-Wyckoff Ave). Investment Highlights + CAP Rate- Currently at 6%, generating $241,300 annually. + Projected Income- $416,491 in five years for 10% CAP Rate. + Lease Details- Laundromat lease expires in 2027, with a 3% annual increase. Don't miss this amazing opportunity to invest in a highly sought-after neighborhood in New York City! Call for more information and to schedule a showing today!
3562175
Commercial - Mixed Use, Business Opportunities, Other
1930
Queens
0.05
Acres
Loading...
The scores below measure the walkability of the address, access to public transit of the area and the convenience of using a bike on a scale of 1-100
Walk Score
Transit Score
Bike Score
Loading...
Loading...