Listed by Evergreen Realty and Investments
$3,150,000
5940-5942 Myrtle Avenue
Details
Property Type Mixed Use
Sub Type Multifamily
Square Footage 4,410
Units 4
Cap Rate 6.36%
Occupancy 100%
Rent Bumps Yes
Broker Co-Op Yes
Year Built 1931
Year Renovated 2018
Buildings 1
Stories 3
Lot Size (SqFt) 2,932
Zoning R6B-C1-4
Mixed Use | 4,410 SF
Marketing description
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 franchiseHigh foot traffic ensures consistent retail activity
Retail leases include 50% real estate tax over base year + 3% annual increasesAnnual gross income of approximately $249,834
Turnkey, easy-to-manage asset in Ridgewood’s most desirable location
Listing Contacts
Listed by Evergreen Realty and Investments
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