Auto Shop with Automatic Car
For Sale
Contact for pricing
1596 Main Street, Peekskill, NY 10566
C-2-zoned commercial property pairs an owner-occupied repair facility with a leased, fully automatic wash.
Property Size8,999 SF
Price / SF$266.70
Days on Market187
Property Features for 1596 Main Street
General Information
Standard status
Active
Size
8,999 SF
Class
B
Property subtype
Retail, Special Purpose
Zoning
C-2
Occupancy
50%
Investment Type
Owner/User
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Business Included
Yes
Service Bays
3
Amenities
open floorplan
updated reception area
customer restroom
Building Details
Year Built
1920
Year Renovated
1970
Buildings
2
Units
2
Tenancy
Multi
Listing Agency:
KW Mid-Hudson
(845) 242-4381
Listed By:
Don Minichino · License #NY 10401333542
Source:
Crexi
Added: Feb 24
Changed: Aug 30
Last Checked: Aug 30 at 2:30AM
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 Mid-Hudson
Investment Insights
Based on property information with market context.
The property comprises 8,999 SF across two attached buildings. The 5,311 SF front structure contains an owner-occupied auto repair and upholstery operation with an open, column-free layout, updated reception area, customer restroom, concrete slab floor, and three in-ground automotive lifts. Repair equipment is included, with a complete list available upon request.
A 3,688 SF rear building houses a fully automatic car wash occupied by a long-term tenant on a month-to-month lease. The tenant handles interior and exterior maintenance. The site uses municipal water and sewer for the repair building, while the wash has a private well and municipal sewer. Both buildings have separate heating systems. There are no underground storage tanks, and NYSDEC issued a clean bill of health following recent tank removals. The sale includes the real estate, auto repair and upholstery business, and equipment.
A 3,688 SF rear building houses a fully automatic car wash occupied by a long-term tenant on a month-to-month lease. The tenant handles interior and exterior maintenance. The site uses municipal water and sewer for the repair building, while the wash has a private well and municipal sewer. Both buildings have separate heating systems. There are no underground storage tanks, and NYSDEC issued a clean bill of health following recent tank removals. The sale includes the real estate, auto repair and upholstery business, and equipment.
Key Highlights
- 8,999 SF across two attached buildings
- 5,311 SF auto repair shop with 3 in‑ground automotive lifts
- 3,688 SF fully automatic car wash with long‑term month‑to‑month tenant
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
$190,279
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
7.93%
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%
$3,805,580
$3.8M
Cap Rate 7%
$2,718,271
$2.7M
Cap Rate 9%
$2,114,211
$2.1M
Market Conditions
NOI Build-Up for 8,999 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
$313.2K $34.80/SF
− Vacancy
−$41.3K −$4.59/SF
EGI
$271.8K $30.21/SF
− OpEx
−$81.5K −$9.06/SF
NOI
$190.3K $21.14/SF
Area
Westchester County, NY
Vacancy
13.20%
Lease Rate
$34.80 /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%
$3,805,580
Cap Rate 7%
$2,718,271
Cap Rate 9%
$2,114,211
Alternative Uses
Best Use
Retail
$2.72M
$2.38M – $3.17M
NOI $190,279 @ 7.0% cap · market cap 7.93%
Second Best
Specialty Retail
$2.21M
$1.93M – $2.58M
NOI $154,693 @ 7.0% cap · market cap 6.45%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Service bays
Turnkey business
Opportunity
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
814
Businesses Nearby
19k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 28%
Family Dollar
Shops & Services
7,338 visits/mo
0.2 miles
Dunkin' Donuts
Dining
5,314 visits/mo
0.5 miles
AutoZone
Shops & Services
5,304 visits/mo
0.1 miles
Mid-Hudson Valley Federal Credit Union
Shops & Services
1,230 visits/mo
0.4 miles
Demographics for 10566, NY
25,384
Population
11,752
Households
2.2
Avg Household Size
40
Median Age
38%
College-Educated
86%
High-School Grad
4.3 sq mi
ZIP Area
5,903
Density / Sq Mi
$91,042
Median Household Income
$49,844
Median Earnings
$1,895
Median Rent
$376,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Ppg Collision Repair Center — 1207 Crompond Rd, Peekskill, NY 10566
- Brians Automotive Inc. — 1208 S Division St, Peekskill, NY 10566
- Peekskill Auto Body & Truck — 1207 Crompond Rd, Peekskill, NY 10566
- Allied Service Station & Towing — 17 S Broad St, Peekskill, NY 10566
- Peekskill Electric Motor Rpr Service — 13 S Broad St, Peekskill, NY 10566
Frequently Asked Questions
What type of property is this?
Auto shop - C-2-zoned commercial property pairs an owner-occupied repair facility with a leased, fully automatic wash.
Where is this auto shop located?
The property is located at 1596 Main Street Peekskill, NY.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 8,999 SF across two attached buildings; 5,311 SF auto repair shop with 3 in‑ground automotive lifts; 3,688 SF fully automatic car wash with long‑term month‑to‑month tenant
