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Listing Courtesy of Corcoran Group
$2,999,000
Est. payment /mo
8 Beds
5 Baths
UPDATED:
12/03/2024 10:32 PM
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Ridgewood
MLS Listing ID RPLU-33423246877
Bedrooms 8
Half Baths 2
HOA Y/N No
Annual Tax Amount $16,308
Property Description
Investment Opportunity: Two Mixed-Use Buildings on Grandview Ave in Ridgewood, Queens
A rare gem awaits in the heart of Ridgewood, Queens, with two side-by-side mixed-use buildings featuring street-level commercial space and residential units above. Located at 564 & 566 Grandview Ave, this property offers 36.6 feet of frontage on one of the neighborhood's most vibrant streets.
Key Features:
Prime Location: In the midst of significant growth and development, just down the street from Windjammer and across from Grimaldi Bakery, with fantastic access to trendy local spots like Katan Cafe, Rolo's, Bushwick Bark, Grover Cleveland Playground and Gottscheer Hall. Commercial Space: A double-wide, approximately 2,500 square foot commercial space, with soaring ceilings and original tin details, and two cellars below. The space supports Light Manufacturing use and is ideal for a creative studio, craft brewery, coffee roaster, or similar ventures. 566 Grandview is built to the back of the 95 foot deep lot, while 564 Grandview is built 55 feet deep and offers a charming garden space that gets abundant natural light from the North. Residential Units: The two buildings offer four spacious, floor-through residential units, each featuring one or two bedrooms plus a home office. The apartments, measuring approximately 850 square feet each, have tremendous upside potential. Potential: Zoned R6B, with a Certificate of Occupancy in place, this building is ideal for developers, end-users, or investors. With low annual taxes ($16,308), the opportunity for future redevelopment or owner-occupied business space is significant. Why Invest Here?
Ridgewood, Queens is a rapidly developing area that has attracted a variety of new businesses, with a mix of residential, commercial, and creative spaces sprouting up throughout the neighborhood. This location, with easy access to local parks and hot spots, is poised for continued growth. Whether you're looking to capitalize on the current income stream, expand your real estate portfolio, or create your own unique space, these buildings offer a tremendous range of opportunities.
Property Overview:
Address: 564 & 566 Grandview Ave, Ridgewood, Queens Total Square Footage: 6,819 sq. ft. Building Dimensions: 36.6 ft of street frontage, 95 foot deep lots. Zoning: R6B, Light Manufacturing and Residential CofO: In place Annual Taxes: $16,308 Current Use: Commercial seamstress business on the first floor; residential units above Don't miss the opportunity to own a piece of this thriving neighborhood! With a mix of historic charm, fantastic ceiling heights, and enormous potential, this property is truly a masterpiece waiting for the right owner to take it to the next level.
Contact us today to schedule a viewing and explore the incredible potential of 564 & 566 Grandview Ave.
Location
State NY
County Queens
Rooms
Basement Other
Interior
Fireplace No
Laundry In Unit
Exterior
View Y/N No
View Other
Porch None
Private Pool No
Building
Dwelling Type Mixed Use
Story 1
New Construction No
Others
Pets Allowed Pets Allowed
Ownership None
Monthly Total Fees $1, 359
Special Listing Condition Standard
Pets Allowed Building Yes, No
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RLS Data display by Spire Group Inc.
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Sophia (Zhengping Qi) Lin
Licensed Real Estate Salesperson | License ID: 10401253607
Licensed Real Estate Salesperson License ID: 10401253607