Mixed-Use Building with Retail
114-116 Ferris Ave White Plains, NY 10603
New
For Sale
$925,000
Well-maintained mixed-use property with renovated apartments above a leased retail storefront and on-site rear parking.
Days on Market6
Property Features for 114-116 Ferris Ave
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Year Built
1925
Listing Agency:
C J Pagano & Sons, Inc
(914) 447-8768
Listed By:
Christopher Krzeminski · License #10301223659
(914) 447-8768
Source:
Elliman
Added: Jul 25
Changed: Jul 26
Last Checked: Jul 30 at 6:32AM
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 C J Pagano & Sons, Inc
Investment Insights
Based on property information with market context.
This mixed-use building includes two fully renovated two-bedroom apartments and a leased retail storefront. The 1st floor apartment is renovated and currently vacant, while the 2nd floor apartment is leased through February 2027. The property is described as well-maintained, with heat covered by the landlord for the entire building.
The retail storefront is leased on a five-year term through February 2031, with annual rent escalations noted in the remarks. The tenant is responsible for electricity. Parking is available in the rear driveway, with additional street parking for retail customers.
The location is highlighted for convenient access near I-287 and the Bronx River Parkway, and the property is listed as approximately 0.4 miles from the White Plains Metro-North Station.
The retail storefront is leased on a five-year term through February 2031, with annual rent escalations noted in the remarks. The tenant is responsible for electricity. Parking is available in the rear driveway, with additional street parking for retail customers.
The location is highlighted for convenient access near I-287 and the Bronx River Parkway, and the property is listed as approximately 0.4 miles from the White Plains Metro-North Station.
Key Highlights
- 1925‑built mixed‑use property with two renovated 2‑bedroom apartments plus a leased retail storefront
- 2nd‑floor apartment leased for $2,800/month through February 2027; landlord covers heat for the entire property
- 1st‑floor 2‑bedroom apartment fully renovated and vacant for owner‑occupant use or immediate lease‑up
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 | $70.7k | $34.80 |
| − Vacancy | −$9.3k | −$4.59 |
| EGI | $61.4k | $30.21 |
| − OpEx | −$18.4k | −$9.06 |
| NOI | $43.0k | $21.14 |
2,032 SF · lease $34.80/SF/yr · vacancy 13.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$613.8K
$537.1K – $716.1K
NOI $42,966 @ 7.0% cap · market cap 4.64%
Second Best
Multifamily LT 5
$565.4K
$494.7K – $659.7K
NOI $39,579 @ 7.0% cap · market cap 4.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Well-maintained mixed-use property with renovated apartments above a leased retail storefront and on-site rear parking.
Where is this mixed-use property located?
The property is located at 114-116 Ferris Ave White Plains, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 1925‑built mixed‑use property with two renovated 2‑bedroom apartments plus a leased retail storefront; 2nd‑floor apartment leased for $2,800/month through February 2027; landlord covers heat for the entire property; 1st‑floor 2‑bedroom apartment fully renovated and vacant for owner‑occupant use or immediate lease‑up
