297 Saint Nicholas Avenue

Property Description

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!