$3,890,000
Updated 2 years ago
Off Market

2-97 Saint Nicholas Ave

Ridgewood, Queens | Linden Street & Gates Ave

45 Rooms22 Beds9 Baths7,260 Square FeetIncome Property

$3,890,000
floors / apts4 / 7
Lot Size22'x90'9"
Built Size22' wide
ZoneR6B
Building TypeLow-Rise
RE Taxes$26,409
Price Per SF
$536

Building Amenities

  • Voice Intercom

Property Description for 2-97 Saint Nicholas Ave

Mixed-Use Corner Building in Ridgewood + Location: 297 St Nicholas Ave, Queens, NY 11385 + Property Type: Mixed-Use (7 Apartments + 2 Commercial Units + Basement) + Total Square Feet: 7,260 + Investment Opportunity: Outstanding Free-Market Investment Property Overview + 7 Apartments- Newly renovated, free-market 3 and 4-bedroom residential units. + + Apartment 1R- 4 Bedrooms, Living Room, EIK (Eat-In Kitchen), 1 Full Bath + + Other 6 Apartments (2F, 2R, 3F, 3R, 4F, 4R)- 3 Bedrooms, Living & Dining Room, EIK, 1 Full Bath + 2 Commercial Units- + + Laundromat (800 sq ft) + + Vacant store (150 sq ft) + + Basement- Additional space for storage or potential use Prime Location + Situated on a corner lot at the Ridgewood/Bushwick border. + Within 1 block of shopping, eateries, restaurant services, bus stops, and subway stations (L and M trains at Myrtle-Wyckoff Ave). Investment Highlights + CAP Rate- Currently at 6%, generating $241,300 annually. + Projected Income- $416,491 in five years for 10% CAP Rate. + Lease Details- Laundromat lease expires in 2027, with a 3% annual increase. Don't miss this amazing opportunity to invest in a highly sought-after neighborhood in New York City! Call for more information and to schedule a showing today!

Listing History for 2-97 Saint Nicholas Ave

Now
10/01/2024
Expired by Ed G. Heflin
East Coast Realtors, Inc.
07/17/2024
$3,890,000 [-$95,000] [2.4%]
Price Drop by Ed G. Heflin
East Coast Realtors, Inc.

Building Details for 2-97 Saint Nicholas Ave

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1930
Floors/Apts4/7
Learn More About the Building

Contact Agents

Contact Agents

Ed Heflin
East Coast Realtors, Inc.
Zhaohua Zhang
East Coast Realtors, Inc.

Ridgewood | Queens

Quick Profile

Unique for being a symbolic and literal bridge between Brooklyn and Queens, Ridgewood incorporates both distinct elements of these boroughs into its persona. Originally considered part of Brooklyn, the neighborhood broke off with Bushwick in the 1700s at a point called, appropriately, Arbitration Rock. When the blackout of 1977 occurred, the residents of Ridgewood only further wanted to dissociate themselves from their Bushwick neighbors as the bedlam that ensued in between the looting and the riots made them feel just a tad superior. 

And yet, just because its zip code changed didn’t mean Ridgewood could ever fully break free from its proximity and entwined identity with Bushwick. Pegged as the next “it” destination and hipster haven to move to circa 2016, Ridgewood has surprised many with its steady pace of growth, therefore well-maintained “neighborhood” feel. 

Rife with quiet blocks filled with quaint, colorful buildings, Ridgewood offers the bodegas and local businesses one also expects of “old world” Brooklyn. An increase in the number of coffee shops, bars and DIY venues have continued its natural association with Bushwick, however, the deeper into the neighborhood you go, the more apparent it becomes that Ridgewood is very much its own very Queensian thing. 

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 96589TH