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 (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!
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyQueens
- Taxes$26,409
- HOA/Condo/Coop Fees$0
- Days on Site3 Days
- MLS StatusActive
- MLS ID Number3562262
- Home Size Source N/A
- Year Built1930
- Lot Size0.05 Acres
- Full Baths9
- Partial BathsN/A
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General Features
- Style Mid- Rise
- Construction Brick
- Parking Off Street
- Sewer Public Sewer
- Basement Full
- Acreage 0.05
- Water Public
- Cross Street Linden St
- Property Sub Type Multi Family
- Garage Spaces 0
- Attached Garage No
Interior Features
- Cooling Window Unit(s)
- Heating Natural GasHot Water
- Fireplaces 0
Exterior Features
- Lot Near Public Transit
Community Features
- Township Queens
- Community Features ParkNear Public Transportation
- Senior Community No