297 Saint Nicholas Avenue

Ridgewood, NY 11385

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!

Listing courtesy of East Coast REALTORS Inc 9178818518


Based on information submitted to the MLS GRID as of 2024-09-20 06:50 AM EDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.