A mixed-use building has hit the market in Ridgewood, going for $1.299 million, Greiner Maltz Investment Properties said.
The property at 983 Wyckoff Ave. is currently used as a deli/restaurant, with a three-bedroom apartment on the second floor, which will be delivered vacant, according to Greiner Maltz. The commercial space is approximately 700 square feet, with approximately 1,800 square feet of outdoor space.
The building sits on approximately a 25-foot by 100-foot lot, and the entire building is around 1,276 square feet. It is located in an M1-4D zone, and is estimated to be capable of bringing in $75,600 in yearly revenue — charging $3,800 per month rent for the restaurant and $2,500 monthly rent for the three-bedroom, one-bathroom apartment — Greiner Maltz said.
According to Greiner Maltz, after the estimated expenses of real estate taxes ($3,374), insurance ($1,100), water/sewer ($600) and heating oil ($3,400), the yearly expenses total approximately $8,474, leaving the owner with a net operating income of about $67,126 per year.
The property is located across the street from the Halsey Street L train station and is near the B26 and Q39 buses.
For more information about this property, visit Greiner Maltz Investment Properties’ website.
