Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3 Sherman Ave Mount Vernon, NY 10552

    View on Map
    Sponsored
    For Sale
    $3,999,000

    MULTI_FAMILY - Mount Vernon, NY

    Lot size:
    0.28 Acres
    Days on Market:
    20
    Last Refresh:
    Mar 9 at 7:06 pm

    Property Features for 3 Sherman Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security System
    Rooms
    Basement
    APN
    0800-165-033-02135-000-0009
    Parking features
    Parking Lot, On Street
    Lot size
    0.28 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Radiant
    Cooling system
    Window Unit(s), Wall/Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1901
    Number of units
    14
    Building materials
    Brick, Stucco

    We can help!

    Listing Contact
    Michelle Prisco
    Michelle Prisco

    ERA Insite Realty (914) 948-3333

    Listing agent Michelle Prisco (914) 906-8439

    Listing date Feb 17, 2026

    MLS# 940112

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Renovated Multifamily Building Near Bronxville

    This 14-unit multifamily building, plus one super unit, presents an investment opportunity in the Bronxville area. Originally constructed as a historic schoolhouse, the building underwent a complete renovation in 2013, blending modern comfort with its original character. The property features a mix of one and two-bedroom apartments, all newly constructed during the redevelopment. On-site laundry facilities are available for residents. The property is conveniently located steps from the bus line and within walking distance of the Chester Heights neighborhood. Its location near major highways and approximately 1.5 miles from the train provides commuter access. This updated, low-maintenance building offers strong rental appeal.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mount Vernon
    County
    Westchester
    State
    New York
    Longitude
    -73.8218297
    Latitude
    40.9235186

    Nearby Similar for Sale

    • $3,500,000
      0.25 Acres

      Corner Commercial Property For Sale

      Rare corner commercial property with six storefronts and parking.
      200 W 1St St, Mount Vernon, NY 10550
      View Details
    • $2,000,000
      0.25 Acres

      Mount Vernon Retail Investment Opportunity

      Prime commercial property with 12 retail storefronts in Mount Vernon.
      40 E 3Rd St, Mount Vernon, NY 10550
      View Details
    • $865,000
      0.03 Acres

      Elevate Bar & Lounge Opportunity

      Bar and lounge in prime location near transportation and shopping.
      130 E 1St St, Mount Vernon, NY 10550
      View Details
    • $675,000
      1,307 SF

      Adaptable Commercial Space, Fleetwood District

      Versatile commercial space in Mount Vernon's Fleetwood District.
      17 W Grand St, Mount Vernon, NY 10552
      View Details
    • New
      $550,000

      Two-Family Home Near Transportation

      Two-family home near Metro-North and subway access.
      219 S 6Th Ave, Mount Vernon, NY 10550
      View Details
    • New
      $875,000
      Pending

      Spacious Two-Family Mount Vernon Duplex

      Well-maintained duplex with flexible space in a convenient location.
      247 Nuber Ave, Mount Vernon, NY 10553
      View Details
    • New
      $549,000
      0.05 Acres

      Mount Vernon Two-Family Property

      Well-maintained two-family property in a convenient Mount Vernon location.
      350 S 2Nd Ave, Mount Vernon, NY 10550
      View Details
    • New
      $899,000
      0.08 Acres

      Mount Vernon Three-Family Investment

      Three-unit property near shops, schools, transit, and hospital.
      233 S 5Th Ave, Mount Vernon, NY 10550
      View Details
    • $899,000
      Pending

      Colonial Triplex in Mount Vernon

      Spacious pre-war Colonial triplex with original details and convenient location.
      134 Vista Pl, Mount Vernon, NY 10550
      View Details
    • New
      $960,000
      0.27 Acres

      Mount Vernon Three-Family Home

      Detached three-family property on an oversized lot in Mount Vernon.
      149 W Kingsbridge Rd, Mount Vernon, NY 10550
      View Details
    • $779,000
      Pending

      Updated Two-Family Home in Mount Vernon

      Newly renovated two-family property with modern finishes and strong rental potential.
      445 Franklin Ave, Mount Vernon, NY 10553
      View Details
    • New
      $600,000
      Pending

      Mount Vernon Duplex Opportunity

      Duplex in Mount Vernon with two separate living units.
      505 Mundy Ln, Mount Vernon, NY 10550
      View Details

    FAQs

    What type of property is this?
    Apartment building - Unique 14-unit building near transportation and Chester Heights neighborhood.
    Where is this apartment building located?
    The property is located at 3 Sherman Ave Mount Vernon, NY.
    What is the asking price?
    The asking price for this property is $3,999,000.
    What are key features of this property?
    This property features: - Prime location in the Bronxville area with excellent commuter access, near major highways and only 1.5 miles from the train.; - **Completely renovated in 2013**, offering modern comfort and low maintenance.; - **Unique, historic building** (originally a schoolhouse) with timeless character.
    (914) 906-8439
    Request Owner's contact information
    3 Sherman Ave Mount Vernon, NY 10552
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3 Sherman Ave
    Mount Vernon, NY 10552
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3 Sherman Ave Mount Vernon, NY 10552
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michelle Prisco
    Michelle Prisco
    (914) 906-8439 (914) 949-9600
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!