11-05 Cypress Avenue

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. Ideally situated just 0.7 miles from the subway, 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!