Building Details

Building Size 7,845 SF

Buildings 3

Units 11

Tenancy Multi

Listing Agency: Coldwell Banker Realty k***@cbrealty.com Show Phone

Listed By: Keri Kenny · License #10401337125 Show Phone

Source: Maurafinnegan

Added: May 28 Changed: Aug 29 Last Checked: Aug 29 at 9:09AM

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Investment Insights

Based on property information with market context.

This mixed-use portfolio includes three buildings with six retail businesses and five residential apartments. The apartment mix comprises three one-bedroom units and two two-bedroom units, while the commercial component includes a hair salon, ice cream shop, deli, guitar shop, fuel business, and gift shop. The properties are fully occupied and include a large parking area across two landscaped parcels.

Located at 1137-1143 E Main Street in Shrub Oak, the portfolio sits within the community’s commercial hamlet center. The site is near the Taconic State Parkway, bus stops, a library, and schools, with an 8,000+ daily traffic count. C-2 zoning supports the property’s mixed commercial and residential configuration.

Key Highlights

• Three‑building mixed‑use portfolio with six retail businesses and five apartments
• Apartment mix includes 3 one‑bedroom units and 2 two‑bedroom units
• Fully occupied property with retail and residential components

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

$165,878

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

5.54%

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%

$3,317,560 $3.3M

Cap Rate 7%

$2,369,686 $2.4M

Cap Rate 9%

$1,843,089 $1.8M

Market Conditions

NOI Build-Up for 7,845 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

$273.0K $34.80/SF

− Vacancy

−$36.0K −$4.59/SF

EGI

$237.0K $30.21/SF

− OpEx

−$71.1K −$9.06/SF

NOI

$165.9K $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%

$3,317,560

Cap Rate 7%

$2,369,686

Cap Rate 9%

$1,843,089

Alternative Uses

Best Use

Retail

$2.37M

$2.07M – $2.76M (±1% cap)

NOI $165,878 @ 7.0% cap · market cap 5.54%

Second Best

Apartment 5plus

$1.92M

$1.68M – $2.24M (±1% cap)

NOI $134,555 @ 7.0% cap · market cap 4.49%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Retail space

Suggested Use

Top Pick Spa & Massage Center Hair Salon Building Supply Auto Parts Store Parking Lot & Garage Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

5

Residential units

8,000 VPD

Traffic count

100%

Occupancy

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

209

Businesses Nearby

Explore this area Business Placement

Demographics for 10588, NY

2,430

Population

1,172

Households

2.1

Avg Household Size

46

Median Age

52%

College-Educated

88%

High-School Grad

1.6 sq mi

ZIP Area

1,519

Density / Sq Mi

$171,598

Median Household Income

$80,170

Median Earnings

$1,281

Median Rent

$522,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Three-building commercial and residential property with retail tenants, apartments, parking, and C-2 zoning.

Where is this mixed-use property located?

The property is located at 1137-1143 E Main Street Shrub Oak, NY.

What is the asking price?

The asking price for this property is $2,995,000.

What are key features of this property?

This property features: Three‑building mixed‑use portfolio with six retail businesses and five apartments; Apartment mix includes 3 one‑bedroom units and 2 two‑bedroom units; Fully occupied property with retail and residential components