Building Details

Building Size 1,792 SF

Year Built 1920

Listing Agency: ERA Insite Realty Services

Listed By: Michael D'Onofrio · License #30DO0491138 Show Phone

Source: Hhir

Added: Nov 15, 2024 Changed: Oct 26 Last Checked: Oct 26 at 2:33PM

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Investment Insights

Based on property information with market context.

This 1920-built duplex is vacant and offered in as-is condition. The existing residence is configured for two households.

The property information describes the possibility of developing six units, subject to verification with the town of Mt Pleasant.

Key Highlights

• Existing two‑family residence
• Vacant property offered in as‑is condition
• Six‑unit development possibility requires verification with the town of Mt Pleasant

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,904

Cap Rate

4.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$698,080 $698.1K

Cap Rate 7%

$498,629 $498.6K

Cap Rate 9%

$387,822 $387.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,792 SF

Gross rent

$53.3K $29.76/SF

− Vacancy

−$3.5K −$1.93/SF

EGI

$49.9K $27.83/SF

− OpEx

−$15.0K −$8.35/SF

NOI

$34.9K $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 Rate 5%

$698,080

Cap Rate 7%

$498,629

Cap Rate 9%

$387,822

Alternative Uses

Best Use

Multifamily LT 5

$498.6K

$436.3K – $581.7K (±1% cap)

NOI $34,904 @ 7.0% cap · market cap 4.21%

Second Best

Apartment 5plus

$439.1K

$384.2K – $512.3K (±1% cap)

NOI $30,736 @ 7.0% cap · market cap 3.70%

Theoretical Best

Retail

$541.3K

$473.6K – $631.5K (±1% cap)

NOI $37,891 @ 7.0% cap · market cap 4.57%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Location Intelligence

Trade Area within ½ mile

734

Businesses Nearby

Explore this area Business Placement

Demographics for 10594, NY

5,028

Population

1,820

Households

2.8

Avg Household Size

43

Median Age

48%

College-Educated

93%

High-School Grad

2.6 sq mi

ZIP Area

1,934

Density / Sq Mi

$166,417

Median Household Income

$86,553

Median Earnings

$2,148

Median Rent

$683,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - The vacant property includes an existing two-family residence and is offered in as-is condition.

Where is this duplex located?

The property is located at 865 Commerce Street Thornwood, NY.

What is the asking price?

The asking price for this property is $829,900.

What are key features of this property?

This property features: Existing two‑family residence; Vacant property offered in as‑is condition; Six‑unit development possibility requires verification with the town of Mt Pleasant