Add Listing
    For Lease
    • 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

    71 S 3Rd Ave Mount Vernon, NY 10550

    View on Map
    Sponsored
    For Lease
    $1,600 /Mo

    COMMERCIAL - Mount Vernon, NY

    Days on Market:
    13
    Last Refresh:
    Mar 6 at 6:06 am

    Property Features for 71 S 3Rd Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement
    Basement
    Unfinished

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Public Sewer
    Heating system
    Baseboard
    Cooling system
    Wall/Window Unit(s), Window Unit(s)
    Water source
    Public

    Building Details

    Building materials
    Brick

    We can help!

    Listing Contact
    Shavonda Mack

    Heritage Real Estate Services Inc. (914) 667-8996

    Listing agent Shavonda Mack (646) 327-9440

    Listing date Feb 22, 2026

    MLS# 878632

    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

    Downtown Mount Vernon Retail Space

    This commercial space is located in downtown Mount Vernon and offers street level exposure. The location provides a mix of neighboring businesses with the potential to attract foot traffic. The property is located within walking distance of the Mount Vernon East Metro North station and Bee-Line buses. Metered parking is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Boris Shoe Repair (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    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
    -73.8350495
    Latitude
    40.9095432

    Nearby Similar for Lease

    • $4,200 /Mo
      33,106 SF

      Charming Office in Historic Building

      Bright, spacious office in Mount Vernon, near major highways.
      519 S 5Th Ave, Mount Vernon, NY 10550
      View Details
    • New
      $4,500 /Mo
      4,356 SF

      Mount Vernon Commercial Corner Property

      High-visibility commercial space in a busy Mount Vernon corridor.
      34 Mount Vernon Ave, Mount Vernon, NY 10550
      View Details
    • $1,975 /Mo

      Mount Vernon Office Space Available

      1,684 SF office space for rent, immediate occupancy.
      68 E Sandford Blvd, Mount Vernon, NY 10550
      View Details
    • $3,500 /Mo
      920 SF

      Gramatan Avenue Retail Space

      Prime retail space available for lease in Mount Vernon.
      63 Gramatan Ave, Mount Vernon, NY 10550
      View Details
    • $3,800 /Mo
      800 SF

      Prime Retail Space in Mount Vernon

      High-visibility retail space with abundant natural light and flexible layout.
      756 S 5Th Ave, Mount Vernon, NY 10550
      View Details
    • $4,500 /Mo

      Mount Vernon Commercial Corner Space

      High-visibility commercial space in a busy Mount Vernon corridor.
      34 Mount Vernon Ave, Mount Vernon, NY 10550
      View Details
    • $4,200 /Mo

      Charming Office in Historic Building

      Bright, spacious office in Mount Vernon with abundant natural light.
      519 S 5Th Ave, Mount Vernon, NY 10550
      View Details
    • $4,800 /Mo

      High-Visibility Retail Space Available

      Retail/commercial space in Mount Vernon with high foot traffic.
      7 S 5Th Ave, Mount Vernon, NY 10550
      View Details
    • $2,800 /Mo

      Mount Vernon Office Space Available

      Well-maintained office space with utilities and parking included.
      31 Warren Pl, Mount Vernon, NY 10550
      View Details
    • New
      $36 SF/Yr

      Turnkey Commercial Space Available

      1,000 SF commercial space with fully operational kitchen and bar.
      756-770 South 5Th Ave, Mount Vernon, NY 10550
      View Details
    • New
      $45 SF/Yr

      Turnkey Restaurant and Bar Space

      2,000 SF fully equipped restaurant/bar for lease.
      756-777 South 5Th Ave, Mount Vernon, NY 10550
      View Details
    • Contact for pricing
      2,000 SF

      Industrial Site on Hutchinson River

      Industrial site with office, mechanic shop, and river frontage.
      113 Edison Ave, Mount Vernon, NY 10550
      View Details

    FAQs

    What type of property is this?
    Retail space - Commercial space in downtown Mount Vernon with street level exposure.
    Where is this retail space located?
    The property is located at 71 S 3Rd Ave Mount Vernon, NY.
    What is the lease rate?
    The lease rate is $1,600 /Mo.
    What are key features of this property?
    This property features: - Street-level exposure in Downtown Mount Vernon.; - Walking distance to Mount Vernon East Metro North and Bee-Line buses.; - Potential to attract foot traffic due to vibrant mix of neighboring businesses.
    (646) 327-9440
    Request Owner's contact information
    71 S 3Rd Ave Mount Vernon, NY 10550
    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.
    71 S 3Rd Ave
    Mount Vernon, NY 10550
    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
    71 S 3Rd Ave Mount Vernon, NY 10550
    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
    Shavonda Mack
    Real Estate License ID: 10401344802
    (646) 327-9440 (914) 667-8996
    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!