Auto Repair Shop With Car
For Sale
$2,400,000
Pending
1596 Main Street, Peekskill, NY 10566
Commercial Sale, Peekskill, NY
Property Size8,999 SF
Lot Size1.38 Acres
Days on Market190
Property Features for 1596 Main Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
C-2
Lot features
Level, Paved
Standard status
Pending
APN
1200-033-006-00003-000-0031
Lot size
1.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
36213
Utilities
Sewer type
Public Sewer
Heating system
Steam, Oil
Cooling system
Central Air
Water source
Well, Public
Amenities
updated reception area
customer restroom
concrete slab floor
open floorplan with zero columns
Building Details
Year built
1920
Number of units
2
Flooring type
Concrete
Building materials
Block, Brick
Listing Agency:
KW MidHudson · Keller Williams Realty
(914) 962-0007
Listed By:
Don Minichino · License #10401333542
(845) 242-4381
Added: Feb 24
Changed: Sep 1
Last Checked: Sep 2 at 1:06PM
MLS# 963172
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property comprises 8,999 square feet across two attached buildings on 1.38 acres. The front 5,311-square-foot building is an owner-occupied auto repair shop with an open, column-free layout, updated reception area, customer restroom, concrete slab flooring, and three in-ground automotive lifts. The sale includes the real estate, auto repair and upholstery business, and equipment.
A rear 3,688-square-foot building contains a fully automatic car wash leased month to month. The tenant maintains the building’s interior and exterior. The site is zoned C-2 and includes public sewer, while water service is provided by municipal supply for the repair building and a well for the wash. The property was built in 1920 and has block and brick construction, central air, and no underground storage tanks following recent tank removals.
A rear 3,688-square-foot building contains a fully automatic car wash leased month to month. The tenant maintains the building’s interior and exterior. The site is zoned C-2 and includes public sewer, while water service is provided by municipal supply for the repair building and a well for the wash. The property was built in 1920 and has block and brick construction, central air, and no underground storage tanks following recent tank removals.
Key Highlights
- 8,999 SF across two attached buildings on 1.38 acres
- Front 5,311 SF auto repair shop with three in‑ground automotive lifts
- Rear 3,688 SF fully automatic car wash on a month‑to‑month lease
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
100%
Occupancy
Multi-tenant
Tenancy
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 - Two attached commercial buildings support automotive service and a fully automatic wash operation.
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 on 1.38 acres; Front 5,311 SF auto repair shop with three in‑ground automotive lifts; Rear 3,688 SF fully automatic car wash on a month‑to‑month lease
