Industrial Space with Modern
For Sale
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146 E 3rd St, Mt Vernon, NY
3,000 SF industrial space ideal for contractors or auto repair.
Property Size3,000 SF
Lot Size0.06 Acres
Price / SF$216.33
Days on Market932
Property Features for 146 E 3rd St
General Information
Standard status
Active
Size
3,000 SF
Lot size
0.06 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Greiner-Maltz Real Estate - Westchester/Connecticut
(914) 821-5050
Listed By:
Ayall Schanzer
(914) 882-2802
Source:
Moodyscre
Added: Feb 21, 2024
Changed: Sep 4
Last Checked: Sep 9 at 6:03PM
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 Greiner-Maltz Real Estate - Westchester/Connecticut
Investment Insights
Based on property information with market context.
This 3,000 square foot industrial property features a 14-foot drive-in door and a 16-foot ceiling height. The column-free space includes 200 amps of 3-phase electric power and all new state-of-the-art wiring. Modern, CAC offices are located on the mezzanine level. The property is zoned CB (Commercial Business) and includes floor drains. Formerly a tile and stone fabricating shop, this space is ideal for small contractors, auto repair, and other service-oriented businesses. Many upgrades have been made to the property.
Key Highlights
- 14 Foot Drive‑In Door
- Benefit from the 16’ Ceiling Height and Column Free Space.
- 200 Amps 3‑Phase Electric
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
$42,593
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
6.56%
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%
$851,860
$851.9K
Cap Rate 7%
$608,471
$608.5K
Cap Rate 9%
$473,256
$473.3K
Market Conditions
NOI Build-Up for 3,000 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
$64.8K $21.60/SF
− Vacancy
−$4.0K −$1.32/SF
EGI
$60.8K $20.28/SF
− OpEx
−$18.3K −$6.08/SF
NOI
$42.6K $14.20/SF
Area
Westchester County, NY
Vacancy
6.10%
Lease Rate
$21.60 /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%
$851,860
Cap Rate 7%
$608,471
Cap Rate 9%
$473,256
Alternative Uses
Best Use
Retail
$906.2K
$792.9K – $1.06M
NOI $63,433 @ 7.0% cap · market cap 9.77%
Second Best
Industrial
$608.5K
$532.4K – $709.9K
NOI $42,593 @ 7.0% cap · market cap 6.56%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,870
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Industrial property - 3,000 SF industrial space ideal for contractors or auto repair.
Where is this industrial property located?
The property is located at 146 E 3rd St Mt Vernon, NY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 14 Foot Drive‑In Door; Benefit from the 16’ Ceiling Height and Column Free Space.; 200 Amps 3‑Phase Electric
