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Ridgewood real estate prices continue to soar as mixed-use building goes on sale for $2M

Photos courtesy Greiner-Maltz Investment Properties

Investors better get ready to break open their wallets if they want this piece of property in Ridgewood.

The newly gut renovated two-story, mixed-use building on the corner of Grandview Avenue and Bleecker Street has hit the market for an astounding $2 million, Greiner-Maltz Investment Properties announced.

The property, located at 552 Grandview Ave., has a commercial space on the ground floor which is already leased to a multi-unit bar operator (neighborhood’s known watering hole Windjammer) that has yearly rent escalations and an escalating portion of taxes that are paid. The commercial tenant also pays their own gas, electric, water and sewer.

The second floor is made up of two apartments: one two-bedroom, one-bath box apartment; and one three-bedroom apartment, with two full bathrooms.

Greiner-Maltz estimates the monthly rent for the three-bedroom apartment at $2,400 — good for $28,800 a year — while the two-bedroom apartment can go for $2,150 a month — bringing in $25,800 per year.

The building is approximately 3,875 square feet, while the lot itself is around 2,375 square feet.

For more information on this site, visit the Greiner-Maltz website.

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