Prime corner building on the busiest block in Ridgewood with coveted tax class 2A Two stores and two apartments Double sidewalk frontage: 47 feet on Myrtle Avenue, 62 feet on Norman Street Total of 109 feet of wraparound visibility Fully gut-renovated in 2018 Three-story mixed-use building totaling approx. 4,398 SF Two spacious residential units: each with 4 bedrooms and 2 bathrooms Ground-floor tenants: established coffee shop and an established regional dessert franchise High foot traffic ensures consistent retail activity Retail leases include 50% real estate tax over base year + 3% annual increases Annual gross income of approximately $281,619 Turnkey, easy-to-manage asset in Ridgewood's most desirable location Actual cap rate of 7.14%
For sale
$3,250,000
5940 Myrtle Ave, Flushing, NY 11385
8beds
4,410sqft
Single Family Residence
Built in 1931
2,932 Square Feet Lot
$-- Zestimate®
$737/sqft
$-- HOA
What's special
Wraparound visibilityDouble sidewalk frontageSpacious residential unitsCorner building
- 60 days
- on Zillow |
- 124 |
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