Highland Falls Mixed-Use
13 Mountain Ave Highland Falls, NY 10928
13 Mountain Ave, Highland Falls, NY, 10928
$1,400,000
For Sale
$1,400,000
Two commercial buildings with six units in total for sale.
Property Size9,145 SF
Lot Size0.14 Acres
Price / SF$153.09
Days on Market133
Property Features for 13 Mountain Ave
General Information
- Standard status
- Active
- Size
- 9,145 SF
- Lot size
- 0.14 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1950
Listing Agency
RE/MAX BENCHMARK REALTY GROUP
(845) 913-8247
Listed by
George K Koudounas · License #30KO1024277
(845) 913-8247
Source
Elliman
Added: Mar 11 Updated: Jul 6 at 12:07 pm Checked: Jul 20 at 4:19 am
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 RE/MAX BENCHMARK REALTY GROUP
Investment Insights
Based on property information with market context.
For the first time in 50 years, a property in Highland Falls is available for sale. This offering includes two commercial buildings situated on a single parcel, comprising a total of 6 units and 9145 square feet. The property features 5 well-maintained residential apartments, totaling approximately 6345 square feet, along with a large storage area currently utilized by the landlord. Additionally, there is a commercial garage unit of approximately 2000 square feet, presently occupied by a contractor. The residential units consist of four 2-bedroom apartments and one 1-bedroom apartment. A walkout basement, currently used by the landlord, presents an opportunity for additional income generation. Residential tenants are responsible for their electric and heating expenses. The commercial garage tenant covers all utilities, including water and sewer. Municipal trash pickup is included in the taxes. Rents are currently below market value, with long-term tenants in place, and all leases are month-to-month. The property is connected to municipal water and sewer services and uses natural gas for fuel. The landlord is responsible for cold and hot water, sewer, school and property taxes, and insurance. Some parking is available on the side of the building for tenants. This income-producing property offers various possibilities and is located just steps from municipal parking, the town center, a park, services, amenities, restaurants, a bank, retail stores, a school, and the main entrance to West Point.
Key Highlights
- Income‑producing property with 6 units, featuring 5 residential apartments and 1 commercial garage.
- Significant potential to increase rental income due to below‑market rents and month‑to‑month leases.
- Two commercial buildings on one parcel totaling 9145 sq. ft.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $164.6k | $18.00 |
| − Vacancy | −$5.6k | −$0.61 |
| EGI | $159.0k | $17.39 |
| − OpEx | −$47.7k | −$5.22 |
| NOI | $111.3k | $12.17 |
9,145 SF · lease $18.00/SF/yr · vacancy 3.40% · expense 30.00%
Alternative Uses
Best Use
Apartment 5plus
$2.44M
$2.14M – $2.85M
NOI $171,061 @ 7.0% cap · market cap 12.22%
Second Best
Retail
$1.59M
$1.39M – $1.86M
NOI $111,309 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$3.10M
$2.71M – $3.61M
NOI $216,811 @ 7.0% cap · market cap 15.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Parking lots & garages
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Two commercial buildings with six units in total for sale.
Where is this mixed-use property located?
The property is located at 13 Mountain Ave Highland Falls, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Income‑producing property with 6 units, featuring 5 residential apartments and 1 commercial garage.; Significant potential to increase rental income due to below‑market rents and month‑to‑month leases.; Two commercial buildings on one parcel totaling 9145 sq. ft.
