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Thomas "Chopper" Russo

chopper@chopperrussoteam.com +1(201) 240-5200

$ 2,175,000

Est. payment | -/mo

2,374 Sqft Lot

Save

$ 2,175,000

Est. payment | -/mo

Save

2,374 Sqft Lot

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID 985759

Rental Info No

Year Built 1930

Annual Tax Amount $33,448

Lot Size 2,374 Sqft

Acres 0.0545

Property Sub-Type Mixed Use

Source onekey2

Property Description

This Mixed-use investment opportunity is located in the heart of Ridgewood with a cap rat of 7.49%. This well-maintained property features a spacious ground-floor commercial unit currently operating as a neighborhood bar, complete with a large main area, pool table section, and a separate rear room with stage—ideal for live music, private events, and gatherings. The commercial rent is $6,523 per month and increases 3% on each April 1. The lease ends on 3/31/2031. Under that lease, that tenant pays 77% of property taxes, 61% of the water charges and its heat expenses. Above the commercial space on the 2nd floor are two residential apartments providing strong rental income. Apt. 2A features an eat-in kitchen, living room, 2 bedrooms and full bath, currently rented for $2,400/month with lease expiring 8/31. Apt. 2B consists of an Eik, Lr, 3 bedrooms and 1 Full bathroom, currently rented for 3,000/month. This tenant is on a month-to-month lease. Market rent for this unit is $3,800 per month. Both tenants pay their own heat, minimizing owner expenses. Also featuring a full basement, & gas heat. Located in the vibrant Ridgewood section of Queens, known for its blend of residential charm and thriving local businesses, this property offers excellent foot traffic and long-term upside. Convenient access to shopping, dining, and public transportation makes this an attractive option for both commercial and residential tenants. Ideal for investors or owner-users seeking a solid income-producing property in a prime and growing neighborhood.

Location

State NY

County Queens

Rooms

Basement Full

Interior

Heating Natural Gas

Cooling None

Fireplace No

Exterior

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Trash Collection Public, Water Connected

Building

Story 2

Sewer Public Sewer

Water Public

Structure Type Wood Siding

Others

Special Listing Condition None

OneKey MLS/ Hudson Gateway (HGAR)/ Long Island MLS (MLSLI)/ Mid Hudson MLS

Listed by Crifasi Real Estate Inc • Joseph V. Crifasi

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Thomas "Chopper" Russo

Broker Associate

+1(201) 240-5200

552 Grandview AVE Ridgewood, NY 11385

Thomas "Chopper" Russo

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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552 Grandview AVE