1702 Palmetto St - Apartments FOR SALE


Ridgewood, NY 11385
$2,500,000 USD
917-370-7806
1702 Palmetto St, Ridgewood, NY for Sale
$2,500,000 USD
Apartments - FOR SALE
1/9
null | Request Cap Rate

1702 Palmetto St
Ridgewood, NY 11385


HIGHLIGHTS

  • All the units including the commercial spaces have no lease.
  • One apartment will be deliver vacant.
  • All units are free market.

OVERVIEW

Prime Ridgewood: Mixed-Use Building | Value-Add Investment Opportunity | All Units Free Market This is a rare opportunity to acquire a prime mixed-use building located in the heart of Ridgewood, ideally positioned between two subway stations (L & M lines). This corner property presents substantial value-add potential, with all units being free market and one unit delivered vacant at closing. The building offers significant upside in rental income with opportunities to improve the existing layout. The commercial tenant is currently on a month-to-month lease, providing flexibility to re-lease the space at a higher rate. The space is perfectly suited for a coffee shop or a restaurant, aligning with Ridgewood’s vibrant and growing dining scene. With convenient access to Manhattan via the L & M subway lines, this property is highly desirable for residential tenants. The building’s location and characteristics make it an excellent investment for those seeking strong future returns. Key Details: Lot Dimensions: 20' × 100' Zoning: R6B Building Class: S5 Total Square Feet: 4,800 sq ft Taxes: $20,526

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$220 USD /SF

# OF UNITS

6

PRICE/UNIT

$416,667

CAP RATE

Request Cap Rate

% LEASED

83%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

R6B

APN/PARCEL ID

03456-0006

ASK ABOUT THIS PROPERTY

Jamie NgSpire Group, Inc.More Info
917-370-7806

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Jamie NgSpire Group, Inc.More Info
917-370-7806

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.