Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Multi-Tenant Building in High-Traffic Location Title is generated by Realmo AI

    2093 East Main Street, Cortlandt Manor, NY 10567

    View on Map
    Claim this Listing
    For Sale
    $3,600,000

    13,000 SF multi-tenant building on 1.12 acres for sale.

    Type:BO, IND, SCR
    Property size:
    13,000 SF
    Lot size:
    1.12 Acres
    Price / SF:
    $276/SF
    Added:
    Jan 28, 2025
    Days on Market:
    488
    Last Refresh:
    Apr 3 at 5:02 am

    Property Features for 2093 East Main Street

    General Information

    Standard status
    Active
    Size
    13,000 SF
    Lot size
    1.12 Acres
    Property subtype
    BO, IND, SCR

    Building Details

    Year Built
    1966

    We can help!

    Listing Contact
    John Coladonato

    Listing agent John Coladonato License #40CO0798230

    Listing office KW Commercial | Hudson Valley United | John Coladonato

    Listing date Jan 28, 2025

    Source Realnex

    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 KW Commercial | Hudson Valley United | John Coladonato

    HighLights

    • High‑traffic location in Cortlandt, Westchester County, with proximity to retailers
    • Multi‑tenant building with diverse co‑tenants
    • Potential for income generation for business owners or investment for investors
    • Opportunity to further divide the building due to its layout
    • 13,000 sq ft building on 1.12 acres
    • 13‑foot ceiling height with drive‑in doors

    Overview

    Located in the town of Cortlandt, Westchester County, this multi-tenant building offers 13,000 square feet of space on a 1.12-acre lot. Situated in a high-traffic location, the property is near numerous retailers. The building is partially owner-occupied and currently houses Freight Liquidators, a pizza shop, a barber shop, a clothing store, and an apartment. The building's layout allows for easy division into smaller units and features 13-foot ceiling heights with drive-in doors. This property presents an opportunity for business owners seeking income alongside their business operations or for investors.

    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 $452.4k $34.80
    − Vacancy −$59.7k −$4.59
    EGI $392.7k $30.21
    − OpEx −$117.8k −$9.06
    NOI $274.9k $21.14
    13,000 SF · lease $34.80/SF/yr · vacancy 13.20% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $3.93M
    $3.44M – $4.58M (±1% cap)
    NOI $274,878 @ 7.0% cap · market cap 7.64%
    Second Best
    Specialty Retail
    $3.19M
    $2.79M – $3.72M (±1% cap)
    NOI $223,470 @ 7.0% cap · market cap 6.21%
    Theoretical Best
    —
    —
    same as Best Use
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cortlandt Manor
    County
    Westchester
    State
    New York
    Longitude
    -73.8792166
    Latitude
    41.3039355

    Nearby Similar for Sale

    • $599,000

      Versatile Commercial Building For Sale

      High-traffic location suitable for various businesses, build to suit.
      1 Dogwood Road, Cortlandt Manor, NY 10567
      View Details
    • $895,000
      12,000 SF

      Fully Leased Retail Property

      Retail and service property in Cortlandt Manor, NY for sale.
      1062 Oregon Road, Cortlandt Manor, NY 10567
      View Details
    • $3,500,000
      3,000 SF

      Cortlandt Manor Income Property

      3.35-acre property with greenhouses and updated main building.
      2267 Crompond Road, Cortlandt Manor, NY 10567
      View Details
    • $499,000
      1,600 SF

      Mixed-Use Property with Warehouse Space

      Mixed-use property with warehouse and development potential in prime location.
      1018 Oregon Road, Cortlandt Manor, NY 10567
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 13,000 SF multi-tenant building on 1.12 acres for sale.
    Where is this mixed-use property located?
    The property is located at 2093 East Main Street Cortlandt Manor, NY.
    What is the asking price?
    The asking price for this property is $3,600,000.
    What are key features of this property?
    This property features: High‑traffic location in Cortlandt, Westchester County, with proximity to retailers; Multi‑tenant building with diverse co‑tenants; Potential for income generation for business owners or investment for investors
    (845) 610-6065
    We can help!
    Listing Contact
    John Coladonato
    Real Estate License ID: 40CO0798230
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2093 East Main Street, Cortlandt, NY 10567
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!