297 Saint Nicholas Avenue

Property feature image
Address: 297 Saint Nicholas Avenue, Ridgewood, New York, US
Created date: November 9, 2023
Date last updated: December 4, 2023

Property Description

This mixed-use, corner building in Ridgewood contains two retail units-a laundromat with 800 square feet and a vacant store with 150 square feet-and seven three-bedroom residential units. The laundromat's lease expires in 2027 and increases at a rate of 3% per year. The building has 7,260 total square feet, stands four stories high, and sits on a 22' X 90.92' lot on a prime corner on the Ridgewood/Bushwick border, only a block away from the L and M trains at Myrtle-Wyckoff Avenues. The property currently boasts a 6.48% cap rate, bringing in $289,536 a year with the potential of a $470,280 income stream (11.68% cap rate!) in the next five years. This is an amazing opportunity to invest in a highly sought-after neighborhood in New York City.

Key Property Information

Listing Status: Unavailable
Listing Type: Call for offers
Multifamily type: Apartments
Price: $3,475,000
Lot Size: 2,000.00 Sq ft
Opportunity Zone: No
Address: 297 Saint Nicholas Avenue, Ridgewood, NY 11385, USA
Provided by:

Similar Properties in the Area

220-234 Chesna Drive

Pittsburgh , Pennsylvania
New York & Tri-State + Apartments
Units: 8
Price: $2,400,000

3457 Evergreen Rd

Ross , Pennsylvania
New York & Tri-State + Apartments
Units: 16
Price: $2,400,000

18-74 Madison Street

Ridgewood , New York
New York & Tri-State + Apartments
Units: 6
Price: $1,588,888
New call-to-action
popup background image