Located on a 20' x 97' lot in one of Queen's most sought-after neighborhoods, this income-producing mixed-use property offers both strong in-place cash flow and long-term upside. The ground floor is occupied by a well-established pharmacy, delivering a stable and reliable income stream. Above, the property features two well-appointed three-bedroom, one-bathroom residential units.
Spanning approximately 4,280 square feet, the building is thoughtfully laid out as follows:
Full basement with utility and mechanical room, plus direct access to the backyard
First floor: 1,100 SF of turn-key commercial/retail space, with an additional 840 SF private backyard
Second floor: 1,100 SF expansive renovated 3-bedroom apartment featuring a separate kitchen, living room, marble bathroom, and an additional room suitable for a home office or bedroom
Third floor: 1,100 SF large renovated 3-bedroom apartment with a separate kitchen, living room, marble bathroom, and bonus room, including new windows and updated electrical throughout the entire building
Positioned just moments from the Halsey Street subway station, this property sits in the heart of one of Brooklyn/Queens' most rapidly growing and in-demand neighborhoods. Ridgewood continues to thrive as a destination for renters and retail alike, fueled by strong tenant demand, vibrant local commerce, and seamless access to transportation, shopping, and many more attributes.
Don't miss the rare opportunity to own a mixed-use asset in the booming Ridgewood location with immediate income and long-term growth potential.
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.