Mixed-Use Property with New
For Sale
$975,000
1014 Main Street, Peekskill, NY 10566
Downtown Peekskill building combining retail, office, and residential occupancy with tenant-paid utilities.
Property Size4,100 SF
Days on Market119
Property Features for 1014 Main Street
General Information
Standard status
Active
Size
4,100 SF
Property subtype
Commercial
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$21,000
Building Details
Building Size
4,100 SF
Year Built
1890
Buildings
1
Units
4
Tenancy
Multi
Listing Agency:
Real Broker NY LLC
(917) 645-6629
Listed By:
Shpresa Camaj
(917) 645-6629
Source:
Alexandermadisonhomes
Added: May 4
Changed: Aug 29
Last Checked: Aug 25 at 9:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Broker NY LLC
Investment Insights
Based on property information with market context.
Located on Main Street in downtown Peekskill, this mixed-use building contains two retail stores, one office space, and a one-bedroom residential apartment. The property was constructed in 1890 and received a new roof in December 2024.
Each tenant is responsible for their own utilities, providing a clearly defined utility arrangement across the retail, office, and residential components. The combination of commercial and residential space creates a varied building configuration within the downtown setting.
Each tenant is responsible for their own utilities, providing a clearly defined utility arrangement across the retail, office, and residential components. The combination of commercial and residential space creates a varied building configuration within the downtown setting.
Key Highlights
- New roof completed in December 2024
- Two retail stores, 1 office space, and 1 residential apartment
- 1‑bedroom residential apartment included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$86,692
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,733,840
$1.7M
Cap Rate 7%
$1,238,457
$1.2M
Cap Rate 9%
$963,244
$963.2K
Market Conditions
NOI Build-Up for 4,100 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$142.7K $34.80/SF
− Vacancy
−$18.8K −$4.59/SF
EGI
$123.8K $30.21/SF
− OpEx
−$37.2K −$9.06/SF
NOI
$86.7K $21.14/SF
Area
Westchester County, NY
Vacancy
13.20%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,733,840
Cap Rate 7%
$1,238,457
Cap Rate 9%
$963,244
Alternative Uses
Best Use
Retail
$1.24M
$1.08M – $1.44M
NOI $86,692 @ 7.0% cap · market cap 8.89%
Second Best
Office B
$896.9K
$784.8K – $1.05M
NOI $62,784 @ 7.0% cap · market cap 6.44%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,357
Businesses Nearby
Explore this area
Business Placement
Demographics for 10566, NY
25,384
Population
11,752
Households
2.2
Avg Household Size
40
Median Age
38%
College-Educated
86%
High-School Grad
4.3 sq mi
ZIP Area
5,903
Density / Sq Mi
$91,042
Median Household Income
$49,844
Median Earnings
$1,895
Median Rent
$376,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown Peekskill building combining retail, office, and residential occupancy with tenant-paid utilities.
Where is this mixed-use property located?
The property is located at 1014 Main Street Peekskill, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: New roof completed in December 2024; Two retail stores, 1 office space, and 1 residential apartment; 1‑bedroom residential apartment included
