The price for a building housing a popular Polish-American deli up on Fresh Pond Road in Ridgewood has dropped down nearly $100,000, Greiner-Maltz Investment Properties has announced.
The building, which houses the deli on the first floor and three-bedroom, one-bathroom residential units on the second and third floors, located at 71-08 Fresh Pond Rd. is now selling for $1.6 million — down from $1,685,000.
According to Greiner-Maltz, each residential unit can be rented for an estimated $2,100 per month ($25,200 annually for each), while the 1,200-square-foot commercial space can bring in an estimated $3,500 per month, or $42,000 each year, totaling $92,400 a year in rent, making this property ideal for an investor.
The estimated expenses for the property include $5,473 in real estate taxes, $1,650 for insurance, $1,000 for repair and maintenance, $1,100 for common electrical work, $1,800 for water and sewer, and $3,000 for gas, totaling $14,023 for a net operating income of $78,377.
The approximately 3,299-square-foot building sits on an approximately 1,700-square-foot lot, and is near both the B13 and Q39 bus routes, and is a short walk to the M train station at Fresh Pond Road and the L train station at Halsey Street.
Additional information regarding this property can be found on the Greiner-Maltz Investment Properties website.