818 Onderdonk Ave, Queens, NY 11385

Property Description

Prime mixed use investment opportunity located in the heart of Ridgewood at 818 Onderdonk Avenue. This well positioned corner property features 1 commercial storefront and 7 residential units, offering a strong blend of stable income and long term upside in one of Queens' most sought after rental markets. The residential portion of the property consists of four 2 bedroom apartments and three 1 bedroom apartments, providing an attractive and versatile unit mix for tenants. The commercial space is occupied by a deli storefront with a long term lease in place through 2030, adding stable in place income to the asset. Several residential units are expected to be delivered vacant at closing, presenting immediate flexibility for an end user or investor. The property also features a huge full length basement spanning the entire footprint of the building, offering excellent storage and additional functionality. Situated on a prominent corner with excellent visibility, the property is surrounded by neighborhood restaurants, cafes, shopping, and public transportation, making it highly desirable for both residential and commercial tenants alike. Financially, the property generates approximately $129,468 in gross operating income with a current NOI of approximately $67,066, while still offering additional value through vacant units and operational potential. A rare opportunity to acquire a mixed use asset in a thriving Ridgewood location with strong in place income, long term stability, and future upside. Please contact us for the full setup package or to schedule a private showing.