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$1,799,000
Est. payment /mo
1,960 Sqft Lot
UPDATED:
Key Details
Property Type Mixed Use, Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1063100
Rental Info No
Year Built 1930
Annual Tax Amount $7,735
Lot Size 1,960 Sqft
Acres 0.045
Property Sub-Type Mixed Use
Source onekey2
Property Description
Brick Mixed-Use Investment Property with Established Pharmacy and Two Residential Apartments
Located in the highly desirable Ridgewood neighborhood, this brick mixed-use property offers an excellent opportunity for investors seeking income potential in a vibrant, well-established community. The first floor is occupied by an established pharmacy, currently paying $3,651 per month, with a lease through 2028 and an option to renew with $100 increments. The second-floor apartment features an eat-in kitchen, living room, one bedroom, and one full bathroom, currently rented for $3,500 per month with a lease expiring November 2026. The third-floor apartment offers an eat-in kitchen, living room, dining room, three bedrooms, and one full bathroom, currently rented for $3,027 per month with a lease expiring in 2027.
Annual Expenses approx.: $19,355
Annual NOI approx. $102,757
The property offers a full basement, spacious yard, and oil-fired heating. Numerous improvements have been completed, including a new roof and boiler in 2025, new windows in 2022, updated kitchens and bathrooms in both apartments, a new return line in 2019, a new front door, wood carpentry improvements, and freshly painted hallways.
Ideally situated just 0.7 miles from the subway, this property benefits from Ridgewood's distinctive neighborhood charm, historic brick architecture, local shops, restaurants, and convenient transportation. A fantastic opportunity to own an income-producing mixed-use property in one of Queens' sought-after neighborhoods!
Located in the highly desirable Ridgewood neighborhood, this brick mixed-use property offers an excellent opportunity for investors seeking income potential in a vibrant, well-established community. The first floor is occupied by an established pharmacy, currently paying $3,651 per month, with a lease through 2028 and an option to renew with $100 increments. The second-floor apartment features an eat-in kitchen, living room, one bedroom, and one full bathroom, currently rented for $3,500 per month with a lease expiring November 2026. The third-floor apartment offers an eat-in kitchen, living room, dining room, three bedrooms, and one full bathroom, currently rented for $3,027 per month with a lease expiring in 2027.
Annual Expenses approx.: $19,355
Annual NOI approx. $102,757
The property offers a full basement, spacious yard, and oil-fired heating. Numerous improvements have been completed, including a new roof and boiler in 2025, new windows in 2022, updated kitchens and bathrooms in both apartments, a new return line in 2019, a new front door, wood carpentry improvements, and freshly painted hallways.
Ideally situated just 0.7 miles from the subway, this property benefits from Ridgewood's distinctive neighborhood charm, historic brick architecture, local shops, restaurants, and convenient transportation. A fantastic opportunity to own an income-producing mixed-use property in one of Queens' sought-after neighborhoods!
Location
State NY
County Queens
Rooms
Basement Full
Interior
Heating Oil
Cooling None
Flooring Wood
Fireplace No
Exterior
Fence Back Yard
Utilities Available Electricity Connected, Sewer Connected, Trash Collection Public
Building
Story 3
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
Elementary Schools Ps 68 Cambridge
Middle Schools Joseph F Quinn Intermediate School 77
High Schools Queens24
School District Queens24
Others
Special Listing Condition None
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Listed by Crifasi Real Estate Inc • Joseph V. Crifasi
NEARBY SCHOOL & BUSINESS
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