Commercial Sale
Mixed Use
6714 Fresh Pond Road, Ridgewood NY 11385
$1,788,000
LID / MLS#: 
202201116714M

Featured Listing

gabi@werbarealty.com's picture
Gabriele Guelly Kapp
Broker / CBR, GRI, RAM, Notary
gabi@werbarealty.com
718-456-9600
Ext:
Spoken Languages:
English and German
matt@werbarealty.com's picture
Ahmed "Matt" Duraliev
Licensed Real Estate Salesperson
matt@werbarealty.com
718-456-9600
Ext:
18
Spoken Languages:
English, Bulgarian, German, Russian, Turkish and Polish
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Description

UNDER CONTRACT

This three story BRICK Mixed Use Investment Property is located in a PRIME location on Fresh Pond Road with high foot traffic just 1/2 Block from Fresh Pond Train Station.  As a mixed use property, with 2 residential units and one commercial space, it provides a diversified income base in a sought after area of Ridgewood.  The 3rd Floor 6 Rm apartment will be delivered vacant at closing.  The 2nd unit (6 Rms) pays $1400/month to month.  The Commercial Tenant is in the 2nd year of a 10year lease agreement.  If you are looking for an ideal opportunity to add to your investment portfolio, then this property located on FRESH POND Road is one that is not to be missed.  Call for more details and to set up a showing. 

Property Characteristics

Appearance: 
Great
Construction: 
Brick
Attached/Semi-Det/Detached: 
Attached
# of Families: 
2 Residential Units
# of Commercial Units: 
1 Commercial Units
# of Units: 
3
# of Stories: 
3
Skylight: 
✔
Basement: 
Yes
Finished Basement: 
No
Building Size: 
20x60
Interior Square Footage: 
3,600 SF
Listing $ / SF: 
$496.67/SF
Lot Size: 
20x92
Lot Square Footage: 
1,832 SF
Year Built: 
1931
Zoning: 
R6B

School Information

District Name: 
24 Community District
District #: 
24
School Statistics (11385)

Income

Monthly Rental income: 
$5,726
Annual Rental income: 
$68,712
Income Description: 
  • 1st Fl: Commercial Space: 10 Yr Lease (7/1/2020-6/30/2030) with 3% Annual Increase & 5 Yr Option (Presently pays: $4326/Month)
  • 2nd Fl: $1400 Month to Month
  • 3rd Fl: Vacant at Closing
Net income: 
$52,674

Expenses

Fuel: 
$2,752
Water: 
$895
Insurance: 
$4,100
Total Taxes: 
$8,328 Taxes
Expense Description: 

Annual Expenses

  • RE Taxes: $8328
  • Insurance: $4062
  • Water: $895 (A Portion of which according to usage paid by commercial tenant)
  • Fuel (Gas Heat/Hot Water): $2753

 $16,038

 

 Commercial Tenant pays portion of Water Bill (Store has own water meter-Landlord bills tenant according to usage).

Commercial & Business

Type of Sale / Rental: 
Inc Prop
Property Type: 
Mixed Use

Rooms

# of Bedrooms: 
6 Bedrooms
# of Kitchens: 
2
Kitchen Condition: 
Commercial Space has cooking capabilities
Kitchen Type: 
Eik
Total Bathrooms: 
3
# of Full Bathrooms: 
2
# of Half Bathrooms: 
1
Dining Room: 
Formal

Floorplan

Basement Subfloor: 
Full-StorageRm/UtilityRm/CommercialUsage/accessto front-back
Level 1: 
Commercial Store
Level 2: 
6 Rm Apartment=3BR/Living Rm/DinRm/EIK/Full Bath=$1400MoMo
Level 3: 
6 Rm Apartment=3BR/Living Rm/DinRm/EIK/Full Bath=VacAtClose

Appliances, Flooring & Utilities

Stove: 
2
Refrigerator: 
1
Wood Floors: 
✔
Wall to Wall Carpet: 
✔
Fuel: 
Gas
Heat: 
-
Gas: 
Gas
# of Heating Zones: 
 

Outdoor Space & Parking

Yard: 
✔
Other: 
Used by Commercial Space

Noteworthy

Pets: 
✖
No Smoking: 
✔
Transportation / Shops: 
Fresh Pond Road Trains & Shops
Other Amenities: 
Roof=20Years (Rubberized Roof-very 5 years aluminum coating) Converted from OIL to GAS Completed in 2017