5742 Myrtle AveRidgewood, NY 11385

Property Details for 5742 Myrtle Ave

Year built

1931

Lot size

0.03 AC

Property size (Sq ft)

3,419 SF

Zone code

C4-3A

Property type

Investment properties

Property subtype

Live-work space

APN

03573-0020

APU

35730020

Description

This exceptional opportunity presents a thriving, established Thai restaurant located at 5742 Myrtle Ave in the vibrant Ridgewood, NY neighborhood. The 1,500 square foot space, situated on a 0.03-acre lot, boasts a cozy and inviting atmosphere, complete with 42 dining tables and a fully operational bar. The restaurant benefits from a highly desirable location on a bustling commercial street, surrounded by a wealth of established businesses including Taco Bell, Bath & Body Works, TD Bank, Pizza Hut, McDonald's, White Castle, CVS, KFC, and Food Bazaar, ensuring high foot traffic and visibility. The property also includes a valuable and currently active liquor license, a significant asset for continued and future success. The restaurant is conveniently located near the L and M train lines, providing easy access for both employees and customers. This turnkey operation is ready for a new owner to step in and continue its successful trajectory. The current business enjoys a high volume of customers, making this a rare opportunity to acquire a profitable and well-established restaurant in a prime location. Serious inquiries are welcome.

• CAP approach

  CAP return

  Valuation

  6%

  $565,263

  6.5%

  $521,781

  7%

  $484,511

• Comparable approach

  Method

  Valuation

  Relative Method

  $446,727

  Geo Method

  $446,727

• Alternative Use

  Use

  Valuation

  Residential

  $647,008

  Hospitality

  $592,656

  Educational

  $493,083

  Medical

  $510,041

  Retail

  $767,018

Location Insight

City

Flushing

County

Queens

State

New York

Latitude

40.7003

Longitude

-73.9021

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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