Restaurant
District385 - Net-Leased Queens (NYC) Restaurant
57-36 Myrtle Ave, Ridgewood, NY 11385
Listing Price: $1,750,000
Investment Overview
The subject offering is a 4,332 SF single tenant retail building located on Myrtle Avenue in Ridgewood, Queens. The building is 100% occupied by District 385 and they have just over 4 years left on their original lease which began in July of 2022. There are 3% annual increase for the first 5 years and the tenant has an option for 5-year extensions. The landlord is responsible for paying the building’s insurance, as well as all repairs and maintenance to the roof and structure, and a portion of the taxes. The tenant is responsible for all other expenses. The property has 20 feet of frontage on Myrtle Avenue and is five blocks (five-minute walk) to the Seneca Avenue Train Station (M Train).
The building is built 20 ft x 62.5 ft resting on a 1,687 SF lot. The building is currently zoned C4-3A. The property is currently surrounded by national tenants including Metro by T-Mobile, Wendy’s, and Taco Bell. This is a great opportunity to acquire a single tenant retail building in one of Queens premier markets.
District385 - Net-Leased Queens (NYC) Restaurant
Investment Highlights
- 4,332 SF Three-Story Mixed-Use Building - 100% Net-Leased to District385, a Local Bar/Restaurant.
- Leased Through 2028 With 3% Annual Increases. Tenant is Currently Completing Their Build-Out.
- Located on the Best Retail Corridor in Ridgewood - Surrounded by Local and National Retailers. Zoned C4-3A, Which Allows for an Eventual Residential Conversion of the Upper Floors.
Exclusively Listed By
Listing Price: $1,750,000
Investment Highlights
- 4,332 SF Three-Story Mixed-Use Building - 100% Net-Leased to District385, a Local Bar/Restaurant.
- Leased Through 2028 With 3% Annual Increases. Tenant is Currently Completing Their Build-Out.
- Located on the Best Retail Corridor in Ridgewood - Surrounded by Local and National Retailers. Zoned C4-3A, Which Allows for an Eventual Residential Conversion of the Upper Floors.
Investment Overview
The subject offering is a 4,332 SF single tenant retail building located on Myrtle Avenue in Ridgewood, Queens. The building is 100% occupied by District 385 and they have just over 4 years left on their original lease which began in July of 2022. There are 3% annual increase for the first 5 years and the tenant has an option for 5-year extensions. The landlord is responsible for paying the building’s insurance, as well as all repairs and maintenance to the roof and structure, and a portion of the taxes. The tenant is responsible for all other expenses. The property has 20 feet of frontage on Myrtle Avenue and is five blocks (five-minute walk) to the Seneca Avenue Train Station (M Train). The building is built 20 ft x 62.5 ft resting on a 1,687 SF lot. The building is currently zoned C4-3A. The property is currently surrounded by national tenants including Metro by T-Mobile, Wendy’s, and Taco Bell. This is a great opportunity to acquire a single tenant retail building in one of Queens premier markets.
Exclusively Listed By
