71-06 Fresh Pond Rd
Mixed Use | 6.60% CAP | 3,300 SqFt
Marketing description
Bijou Equities is pleased to present the exclusive offering of 71-06 Fresh Pond Road — a fully renovated, 100%-occupied, 100% free-market mixed-use building in the heart of Ridgewood, Queens.
It delivers turnkey, in-place income with no deferred capital and no repositioning required.
The three-story, 3,300 SF building holds two full-floor 4BR / 2BA apartments over a ground-floor retail store.
The apartments are gut-renovated with in-unit washer/dryers and exposed brick; the retail tenant is leased through March 2036 with 3% annual increases and a 35% real-estate-tax recapture over the base year.
Fully leased, the asset generates $156,000 of gross income and $117,161 of net operating income — a 6.60% cap rate at a basis of just $538 per square foot. It sits one block from the Fresh Pond Road M train and just off Myrtle Avenue — Ridgewood's premier retail corridor — a clean, stabilized, low-management asset built for durable cash flow.
Investment highlights
- 100% free-market, 100% occupied
- Gut-renovated, turnkey — no work needed
- $117,161 NOI at a 6.60% cap
- $538/SF
- Retail leased through 2036, 3% annual bumps
- Two 4BR/2BA units over ground-floor retail
- One block to the Fresh Pond Road M train
- Full control to mark rents to market
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