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.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
