59-40 Myrtle Avenue, Ridgewood, NY 11385
New

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$3,250,000
Active for Sale
8 Beds
4F 2H Baths
4410 SF
Built In 1931
 
Listing ID 11514500
Property Type House (Attached)
County Queens
Township Queens
Neighborhood Ridgewood
Total Tax $20,677
FEMA Flood Map fema.gov/portal
Year Built 1931
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MIXED-USE TROPHY CORNER BUILDING IN PRIME RIDGEWOOD

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 franchise High foot traffic ensures consistent retail activity Retail leases include 50% real estate tax over base year + 3% annual increases Annual gross income of approximately $281,619 Turnkey, easy-to-manage asset in Ridgewood's most desirable location Actual cap rate of 7.14%
Property Details
  • 8 Total Bedrooms
  • 4 Full Baths
  • 2 Half Baths
  • 4410 SF
  • 2932 SF Lot
  • Built in 1931
  • Renovated 2018
  • 3 Stories
  • Available 6/10/2025
  • Full Basement
Interior Features
  • Oven/Range
  • Refrigerator
  • Dishwasher
  • Microwave
  • Washer
  • Dryer
  • Stainless Steel
  • Hardwood Flooring
  • Natural Gas Avail
Exterior Features
  • Masonry - Brick Construction
  • Brick Siding
  • Near Bus
  • Near Train
Taxes and Fees
  • $20,677 Total Tax
Listed By
EVERGREEN REALTY & INVESTMENTS
Office: 646-838-1378
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