Mixed-Use Building With Event
For Sale
Contact for pricing
140 Terrace Avenue, Portchester, NY 10573
Two residential apartments accompany a flexible ground-floor commercial area with a kitchen and half bath.
Property Size3,744 SF
Days on Market81
Property Features for 140 Terrace Avenue
General Information
Standard status
Active
Size
3,744 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$18,819
Building Details
Building Size
3,744 SF
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
E Realty International Corp
(203) 327-0021
Listed By:
Cosmo Iadanza
Source:
Totallywestchester
Added: May 18
Changed: Aug 3
Last Checked: Aug 5 at 4:17AM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This mixed-use building at 140 Terrace Avenue in Port Chester, NY, was built in 1900 and combines two occupied residential units with a commercial component at street level. The commercial area is configured with an expansive open layout, kitchen, and half bath, and is currently used as a rentable setting for private parties, meetings, and small events.
The ground-floor space previously served as an Italian social club venue and can accommodate varied commercial concepts, including office, medical, or wellness uses, subject to approvals. The property is approximately 5 minutes from Greenwich, CT. Residential occupancy and the active event-space use provide two distinct operating components within one building.
The ground-floor space previously served as an Italian social club venue and can accommodate varied commercial concepts, including office, medical, or wellness uses, subject to approvals. The property is approximately 5 minutes from Greenwich, CT. Residential occupancy and the active event-space use provide two distinct operating components within one building.
Key Highlights
- Two fully occupied residential units
- Ground‑floor commercial space currently used for private parties, meetings, and small events
- Large open commercial layout with kitchen and half bath
Financial Insights For Multifamily LT 5
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 | $111.4k | $29.76 |
| − Vacancy | −$7.2k | −$1.93 |
| EGI | $104.2k | $27.83 |
| − OpEx | −$31.3k | −$8.35 |
| NOI | $72.9k | $19.48 |
3,744 SF · lease $29.76/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$911.6K – $1.22M
NOI $72,925 @ 7.0% cap · market cap 9.15%
Second Best
Apartment 5plus
$917.4K
$802.7K – $1.07M
NOI $64,216 @ 7.0% cap · market cap 8.06%
Theoretical Best
Retail
$1.13M
$989.6K – $1.32M
NOI $79,165 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,471
Businesses Nearby
Explore this area
Business Placement
Demographics for 10573, NY
41,758
Population
14,592
Households
2.9
Avg Household Size
39
Median Age
44%
College-Educated
83%
High-School Grad
5.5 sq mi
ZIP Area
7,592
Density / Sq Mi
$110,612
Median Household Income
$48,263
Median Earnings
$1,940
Median Rent
$649,900
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 - Two residential apartments accompany a flexible ground-floor commercial area with a kitchen and half bath.
Where is this mixed-use property located?
The property is located at 140 Terrace Avenue Portchester, NY.
What is the asking price?
The asking price for this property is $797,000.
What are key features of this property?
This property features: Two fully occupied residential units; Ground‑floor commercial space currently used for private parties, meetings, and small events; Large open commercial layout with kitchen and half bath
