11-05 Cypress Ave, New York, NY 11385

Brick Mixed-Use Investment Property with Established Pharmacy and Two Residential Apartments Located in the highly desirable Ridgewood neighborhood, this brick mixed-use property offers an excellent opportunity for investors seeking income potential in a vibrant, well-established community. The first floor is occupied by an established pharmacy, currently paying $3,551 per month, with a lease through 2028 and an option to renew with $100 increments. The second-floor apartment features an eat-in kitchen, living room, one bedroom, and one full bathroom, currently rented for $3,500 per month with a lease expiring November 2026. The third-floor apartment offers an eat-in kitchen, living room, dining room, three bedrooms, and one full bathroom, currently rented for $3,027 per month with a lease expiring in 2027. Annual Expenses approx.: $19,355 Annual NOI approx. $102,757 The property offers a full basement, spacious yard, and oil-fired heating. Numerous improvements have been completed, including a new roof and boiler in 2025, new windows in 2022, updated kitchens and bathrooms in both apartments, a new return line in 2019, a new front door, wood carpentry improvements, and freshly painted hallways. Conveniently located approximately 0.25 miles from the Halsey Street L train station, this property benefits from Ridgewood's distinctive neighborhood charm, historic brick architecture, local shops, restaurants, and convenient transportation. A fantastic opportunity to own an income-producing mixed-use property in one of Queens' sought-after neighborhoods!