Mixed-Use
Ridgewood Value-Add Mixed-Use Building
58-08 Myrtle Ave, Ridgewood, NY 11385
Listing Price: $2,100,000
Investment Overview
The subject offering is a 5,450 square foot mixed-use property located on Myrtle Avenue in Ridgewood(Queens). The property consists of 2,300 square feet of on-grade retail space occupied on a month-to-month lease. The second floor consist of 1,750square feet of commercial space that has been owner occupied for over 40 years. The space can be converted to two residential units. The third floor is a vacant four-bedroom apartment that can also be converted to two residential units. There is currently no staircase going from the second to third floor. The entire property can be delivered vacant. The offer rests on a 2,305 square foot lot zoned C4-3A with a FAR of 3. The site has 25 feet of frontage along Myrtle Avenue, surrounded by local and national retailers, and it is located within one of the best retail corridors in Ridgewood. It is eight blocks away (8-minute walk) to the Myrtle-Wyckoff, Seneca Avenue, and Halsey St Stations (M&L Train). This is an outstanding user/value-add opportunity to acquire a mixed-use property in one of the most heavily traveled streets in Ridgewood (Queens). Myrtle Avenue is main retail corridor, and the most heavily traveled street in Ridgewood. The site is surrounded by local and national retailers
Ridgewood Value-Add Mixed-Use Building
Investment Highlights
- 5,450 SF Three-Story Mixed-Use Building on Myrtle Avenue in Ridgewood - Located on the Best Retail Street in Ridgewood (Queens)
- Entire Building Can be Delivered Vacant at Closing - Retail is on a M-T-M Lease. The Second Floor Office/Retail Space is Vacant, and the Third-Floor Apartment is Vacant.
- Outstanding User/Redevelopment Opportunity - Can Convert The Two Upper Floors to Four Apartments. And the Opportunity Works for a User Looking to Take the Retail Space.
Exclusively Listed By
Listing Price: $2,100,000
Investment Highlights
- 5,450 SF Three-Story Mixed-Use Building on Myrtle Avenue in Ridgewood - Located on the Best Retail Street in Ridgewood (Queens)
- Entire Building Can be Delivered Vacant at Closing - Retail is on a M-T-M Lease. The Second Floor Office/Retail Space is Vacant, and the Third-Floor Apartment is Vacant.
- Outstanding User/Redevelopment Opportunity - Can Convert The Two Upper Floors to Four Apartments. And the Opportunity Works for a User Looking to Take the Retail Space.
Investment Overview
The subject offering is a 5,450 square foot mixed-use property located on Myrtle Avenue in Ridgewood(Queens). The property consists of 2,300 square feet of on-grade retail space occupied on a month-to-month lease. The second floor consist of 1,750square feet of commercial space that has been owner occupied for over 40 years. The space can be converted to two residential units. The third floor is a vacant four-bedroom apartment that can also be converted to two residential units. There is currently no staircase going from the second to third floor. The entire property can be delivered vacant. The offer rests on a 2,305 square foot lot zoned C4-3A with a FAR of 3. The site has 25 feet of frontage along Myrtle Avenue, surrounded by local and national retailers, and it is located within one of the best retail corridors in Ridgewood. It is eight blocks away (8-minute walk) to the Myrtle-Wyckoff, Seneca Avenue, and Halsey St Stations (M&L Train). This is an outstanding user/value-add opportunity to acquire a mixed-use property in one of the most heavily traveled streets in Ridgewood (Queens). Myrtle Avenue is main retail corridor, and the most heavily traveled street in Ridgewood. The site is surrounded by local and national retailers
Exclusively Listed By
