Mixed-Use Property in Downtown
For Sale
$900,000
194 Harrison Avenue, Harrison, NY 10528
Versatile property with income potential and redevelopment possibilities.
Property Size1,780 SF
Days on Market101
Property Features for 194 Harrison Avenue
General Information
Standard status
Active
Size
1,780 SF
Total Parking Spaces
4
Property subtype
Commercial
Zoning
PB
Taxes and HOA fees
Annual Taxes
$11,895
Building Details
Building Size
1,780 SF
Year Built
1911
Buildings
1
Stories
2
Units
2
Listing Agency:
Delta Real Estate Brokerage
(914) 924-1569
Listed By:
Yumi Ozawa
(914) 924-1569
Source:
Cohenandcohenrealty
Added: May 16
Changed: Aug 23
Last Checked: Aug 23 at 3:30AM
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 Delta Real Estate Brokerage
Investment Insights
Based on property information with market context.
Located in downtown Harrison, this mixed-use property is zoned PB and presents an opportunity for investment or owner-occupancy. The first floor is currently configured as a dentist's office. The second floor is occupied by a music school with a month-to-month lease. Previously, the second floor was a 2-bedroom, 1-bath apartment, suggesting the possibility of future residential conversion, pending local approvals. The property also includes a large loft storage area and a full basement suitable for storage and utilities. On-site parking is available for approximately 3 to 4 cars. The property's location offers proximity to Metro-North, major highways, restaurants, shops, and other local businesses within a commercial district.
Key Highlights
- Prime downtown location near Metro‑North, highways, restaurants, and shops.
- Versatile mixed‑use property zoned PB, suitable for investment or owner‑user.
- Income‑generating with a month‑to‑month lease from a music school on the second floor.
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
$28,996
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
3.22%
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%
$579,920
$579.9K
Cap Rate 7%
$414,229
$414.2K
Cap Rate 9%
$322,178
$322.2K
Market Conditions
NOI Build-Up for 1,780 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
$53.4K $30.00/SF
− Vacancy
−$5.1K −$2.85/SF
EGI
$48.3K $27.15/SF
− OpEx
−$19.3K −$10.86/SF
NOI
$29.0K $16.29/SF
Area
Westchester County, NY
Vacancy
9.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$579,920
Cap Rate 7%
$414,229
Cap Rate 9%
$322,178
Alternative Uses
Best Use
Healthcare Medical
$414.2K
$362.5K – $483.3K
NOI $28,996 @ 7.0% cap · market cap 3.22%
Second Best
Office B
$389.4K
$340.7K – $454.3K
NOI $27,258 @ 7.0% cap · market cap 3.03%
Theoretical Best
Retail
$537.7K
$470.5K – $627.3K
NOI $37,637 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
872
Businesses Nearby
Explore this area
Business Placement
Demographics for 10528, NY
13,108
Population
5,101
Households
2.6
Avg Household Size
40
Median Age
58%
College-Educated
94%
High-School Grad
3.8 sq mi
ZIP Area
3,449
Density / Sq Mi
$151,193
Median Household Income
$73,327
Median Earnings
$2,683
Median Rent
$934,100
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 - Versatile property with income potential and redevelopment possibilities.
Where is this mixed-use property located?
The property is located at 194 Harrison Avenue Harrison, NY.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Prime downtown location near Metro‑North, highways, restaurants, and shops.; Versatile mixed‑use property zoned PB, suitable for investment or owner‑user.; Income‑generating with a month‑to‑month lease from a music school on the second floor.
