Ossining Mixed-Use Property For
For Sale
$885,000
193 MAIN ST, Ossining, NY 10562
Fully leased mixed-use property with cafe and residential unit.
Property Size3,600 SF
Price / SF$245.83
Days on Market223
Property Features for 193 MAIN ST
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$17,945
Amenities
Window/Wall Unit
3
Parking.
On Street.
Building Details
Year Built
1876
Listing Agency:
(914) 798-4900
Listed By:
Houlihan Lawrence Commercial
(914) 960-9148
Source:
Xome
Added: Jan 30
Changed: Sep 8
Last Checked: Sep 9 at 7:04AM
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 Houlihan Lawrence Commercial
Investment Insights
Based on property information with market context.
This mixed-use property is located in the Village of Ossining. The property is fully leased and includes a street-level cafe with a full basement, and a duplex residential unit above. The building has been fully renovated and features natural light from skylights, 10-foot ceilings, a deck, and views of the Hudson River. The 1,600 square foot property includes a private fenced yard and parking for two cars. Recent upgrades include a new hot water heater, new refrigerator, and new shower and toilets for the apartment. The location has a walk score of 89, indicating it is very walkable, a bike score of 44, indicating it is somewhat bikeable, and a transit score of 46, indicating some transit options are available.
Key Highlights
- Fully Leased Mixed‑Use Property: Street‑level cafe and duplex residential unit provide immediate income.
- Fully Renovated 1600 SF Duplex: Features natural light from skylights, 10' ceilings, deck, and Hudson River views.
- Highly Walkable Location: Walk Score of 89 in the Village of Ossining.
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
$52,178
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
5.90%
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%
$1,043,560
$1.0M
Cap Rate 7%
$745,400
$745.4K
Cap Rate 9%
$579,756
$579.8K
Market Conditions
NOI Build-Up for 3,600 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
$108.0K $30.00/SF
− Vacancy
−$24.5K −$6.81/SF
EGI
$83.5K $23.19/SF
− OpEx
−$31.3K −$8.70/SF
NOI
$52.2K $14.49/SF
Area
Westchester County, NY
Vacancy
22.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,043,560
Cap Rate 7%
$745,400
Cap Rate 9%
$579,756
Alternative Uses
Best Use
Mixed Use
$745.4K
$652.2K – $869.6K
NOI $52,178 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.09M
$951.5K – $1.27M
NOI $76,120 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,138
Businesses Nearby
Explore this area
Business Placement
Demographics for 10562, NY
34,252
Population
12,745
Households
2.7
Avg Household Size
40
Median Age
46%
College-Educated
87%
High-School Grad
13.5 sq mi
ZIP Area
2,537
Density / Sq Mi
$113,069
Median Household Income
$53,499
Median Earnings
$2,118
Median Rent
$486,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased mixed-use property with cafe and residential unit.
Where is this mixed-use property located?
The property is located at 193 MAIN ST Ossining, NY.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: Fully Leased Mixed‑Use Property: Street‑level cafe and duplex residential unit provide immediate income.; Fully Renovated 1600 SF Duplex: Features natural light from skylights, 10' ceilings, deck, and Hudson River views.; Highly Walkable Location: Walk Score of 89 in the Village of Ossining.
