Mixed-Use Property with Multiple
For Sale
$1,825,000
124-128 W Lincoln Ave, Mount Vernon, NY 10550
Mixed-use duplex plus commercial office space with separate utilities, multiple parking options, and income from existing leases.
Property Size8,585 SF
Days on Market49
Property Features for 124-128 W Lincoln Ave
General Information
Standard status
Active
Size
8,585 SF
Total Parking Spaces
10
Property subtype
Commercial
Units
Multifamily Units
2
Office Units
3
Taxes and HOA fees
Annual Taxes
$28,626
Building Details
Building Size
8,585 SF
Year Built
1900
Units
6
Listing Agency:
(914) 490-8650
Listed By:
Adam Cherko
(914) 490-8650
Source:
Elliman
Added: Jul 3
Changed: Aug 10
Last Checked: Aug 19 at 12:58PM
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 Adam Cherko
Investment Insights
Based on property information with market context.
This mixed-use property combines a duplex residential structure with separate commercial space and attached/adjacent garage capacity. The residential component features two units within the duplex at 128 W Lincoln Ave: a first-floor unit with two bedrooms and 1.5 bathrooms that provides access to a private rear deck, and a second-floor unit with three bedrooms and one bathroom configured over two stories. Both residential units have their own heating systems and electrical. A large 3-car garage includes 9-foot doors, a natural gas heater, and its own bathroom. An additional structure contains three separate commercial office spaces plus two more garage bays, with a beauty salon on the first floor and a lease already in place.
Off-street parking is available in the paved area between 124 and 128, which can accommodate about 10 vehicles in addition to garage spaces. The 3-bay garage is currently rented to a long-term tenant. The property has undergone several recent updates, including new roofs on both the residential and commercial spaces, a new heating system for the second-floor residential unit, and a French drain waterproofed basement with a transferrable dryness guarantee from CT Basement Systems. An old oil tank was also removed.
For tenants and owner-operators, the separate heating systems and electrical for each unit can simplify expense responsibility. For buyers seeking diversified income, the combination of leased commercial and garage space alongside occupied residential units supports a straightforward, multi-stream operating profile.
Off-street parking is available in the paved area between 124 and 128, which can accommodate about 10 vehicles in addition to garage spaces. The 3-bay garage is currently rented to a long-term tenant. The property has undergone several recent updates, including new roofs on both the residential and commercial spaces, a new heating system for the second-floor residential unit, and a French drain waterproofed basement with a transferrable dryness guarantee from CT Basement Systems. An old oil tank was also removed.
For tenants and owner-operators, the separate heating systems and electrical for each unit can simplify expense responsibility. For buyers seeking diversified income, the combination of leased commercial and garage space alongside occupied residential units supports a straightforward, multi-stream operating profile.
Key Highlights
- 1900‑built mixed‑use property with 2 residential units in one duplex structure (street number 128) plus separate commercial office space
- Commercial structure offers 3 separate office spaces and a beauty salon on the first floor with an active lease in place
- Large 3‑car garage with 9‑foot doors, plus a dedicated bathroom; 3‑bay garage space is currently rented to a long‑term tenant
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
$167,218
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
9.16%
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%
$3,344,360
$3.3M
Cap Rate 7%
$2,388,829
$2.4M
Cap Rate 9%
$1,857,978
$1.9M
Market Conditions
NOI Build-Up for 8,585 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
$255.5K $29.76/SF
− Vacancy
−$16.6K −$1.93/SF
EGI
$238.9K $27.83/SF
− OpEx
−$71.7K −$8.35/SF
NOI
$167.2K $19.48/SF
Area
Westchester County, NY
Vacancy
6.50%
Lease Rate
$29.76 /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%
$3,344,360
Cap Rate 7%
$2,388,829
Cap Rate 9%
$1,857,978
Alternative Uses
Best Use
Multifamily LT 5
$2.39M
$2.09M – $2.79M
NOI $167,218 @ 7.0% cap · market cap 9.16%
Second Best
Apartment 5plus
$2.10M
$1.84M – $2.45M
NOI $147,248 @ 7.0% cap · market cap 8.07%
Theoretical Best
Retail
$2.59M
$2.27M – $3.03M
NOI $181,525 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,790
Businesses Nearby
Explore this area
Business Placement
Demographics for 10550, NY
41,137
Population
16,865
Households
2.4
Avg Household Size
38
Median Age
23%
College-Educated
82%
High-School Grad
2.0 sq mi
ZIP Area
20,569
Density / Sq Mi
$56,903
Median Household Income
$43,733
Median Earnings
$1,451
Median Rent
$482,600
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 - Mixed-use duplex plus commercial office space with separate utilities, multiple parking options, and income from existing leases.
Where is this mixed-use property located?
The property is located at 124-128 W Lincoln Ave Mount Vernon, NY.
What is the asking price?
The asking price for this property is $1,825,000.
What are key features of this property?
This property features: 1900‑built mixed‑use property with 2 residential units in one duplex structure (street number 128) plus separate commercial office space; Commercial structure offers 3 separate office spaces and a beauty salon on the first floor with an active lease in place; Large 3‑car garage with 9‑foot doors, plus a dedicated bathroom; 3‑bay garage space is currently rented to a long‑term tenant
