71-06 Fresh Pond Road, Ridgewood, Queens

Bijou Equities is pleased to present the exclusive listing at 71-06 Fresh Pond Road — a fully renovated, 100%-occupied, free-market mixed-use building in the heart of Ridgewood, Queens. It delivers turnkey, in-place income with no deferred capital and no repositioning required.

The three-story, 3,300 SF building holds two full-floor 4-bedroom apartments over a ground-floor retail store. All residential units are free-market, with no rent-stabilized tenants, giving ownership full control to mark rents to market on turnover.

The apartments are gut-renovated with in-unit washer/dryers and exposed brick. The ground-floor retail tenant is leased through March 2036 with 3% annual increases and a 35% real-estate-tax recapture over the base year.

Fully leased, the asset generates $156,000 of gross income and $117,161 of net operating income — a 6.60% cap rate at a basis of just $538 per square foot.

The property sits one block from the Fresh Pond Road M train and just off Myrtle Avenue — Ridgewood’s premier retail corridor — offering a clean, stabilized, low-management asset built for durable cash flow.