Investment Overview

The subject offering is a 2,800 square foot mixed-use building on Woodard Avenue in Ridgewood (Queens), NY. The property consists of 1,400 square feet of on-grade retail and the second floor consist of two two-bedroom apartments. The property offers 20 feet of frontage on Woodward Avenue and is two blocks (five-minute walk) to the Seneca Avenue Train Station (M Train) The existing retail space was recently owner occupied by Party Connection, however the space will be delivered vacant. The second floor is 100% occupied on month-to-month leases with below market rents on. The property rest on a 2,500 square foot lot zoned for R6B, C1-4 with a FAR of 2 and tax class protection 1. Being a tax class 1 building means you assessed value cannot rise more than 6% in one year or 20% over five years. This is one of the few commercial buildings in Ridgewood with tax class 1.