7-Unit Apartment
New
For Sale
$1,275,000
115 N Barry Ave, Mamaroneck, NY 10543
Fully occupied apartment property with separately metered gas and electricity for each residence.
Property Size6,000 SF
Days on Market2
Property Features for 115 N Barry Ave
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$17,731
Building Details
Building Size
6,000 SF
Year Built
1920
Buildings
1
Units
7
Listing Agency:
Silversons Realty, LLC
(914) 906-4376
Listed By:
Michele Silverman Bedell
(914) 906-4376
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 7:05AM
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 Silversons Realty, LLC
Investment Insights
Based on property information with market context.
This 7-unit apartment building at 115 N Barry Ave in Mamaroneck, New York, was built in 1920 and is currently 100% occupied. Each apartment has separate metering for gas and electricity, providing distinct utility responsibility by residence. The property is configured as a residential multifamily asset with seven units.
The building is located in the Rye Neck community, P.O. Mamaroneck, near downtown Mamaroneck shops, restaurants, and waterfront amenities. Access to Metro-North’s New Haven Line supports travel toward Manhattan. The surrounding area includes the Rye Neck school district and established residential streets. Walk Score is 80, rated Very Walkable; Bike Score is 53, rated Bikeable; and Transit Score is 41, rated Some Transit.
The building is located in the Rye Neck community, P.O. Mamaroneck, near downtown Mamaroneck shops, restaurants, and waterfront amenities. Access to Metro-North’s New Haven Line supports travel toward Manhattan. The surrounding area includes the Rye Neck school district and established residential streets. Walk Score is 80, rated Very Walkable; Bike Score is 53, rated Bikeable; and Transit Score is 41, rated Some Transit.
Key Highlights
- 7 residential units
- 100% occupancy
- Built in 1920
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
$102,911
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
8.07%
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%
$2,058,220
$2.1M
Cap Rate 7%
$1,470,157
$1.5M
Cap Rate 9%
$1,143,456
$1.1M
Market Conditions
NOI Build-Up for 6,000 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
$198.0K $33.00/SF
− Vacancy
−$10.9K −$1.82/SF
EGI
$187.1K $31.19/SF
− OpEx
−$84.2K −$14.03/SF
NOI
$102.9K $17.15/SF
Area
Westchester County, NY
Vacancy
5.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
45.00%
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%
$2,058,220
Cap Rate 7%
$1,470,157
Cap Rate 9%
$1,143,456
Alternative Uses
Best Use
Apartment 5plus
$1.47M
$1.29M – $1.72M
NOI $102,911 @ 7.0% cap · market cap 8.07%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.81M
$1.59M – $2.11M
NOI $126,867 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,646
Businesses Nearby
Explore this area
Business Placement
Demographics for 10543, NY
21,296
Population
8,141
Households
2.6
Avg Household Size
41
Median Age
57%
College-Educated
89%
High-School Grad
4.3 sq mi
ZIP Area
4,953
Density / Sq Mi
$128,418
Median Household Income
$69,176
Median Earnings
$2,030
Median Rent
$710,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied apartment property with separately metered gas and electricity for each residence.
Where is this apartment building located?
The property is located at 115 N Barry Ave Mamaroneck, NY.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: 7 residential units; 100% occupancy; Built in 1920
