Renovated Mixed-Use Asset For
For Sale
Contact for pricing
199 Stevens Avenue, Mount Vernon, NY 10550
Fully occupied, renovated mixed-use property with strong cash flow.
Property Size8,864 SF
Price / SF$225.52
Days on Market184
Property Features for 199 Stevens Avenue
General Information
Standard status
Active
Size
8,864 SF
Property subtype
Multifamily
Net Operating Income
$191,385
Building Details
Year Built
2018
Units
8
Listing Agency:
Distinguished Realty Services
(914) 677-2623
Listed By:
Francis Morris · License #NY
Source:
Crexi
Added: Feb 19
Changed: Aug 14
Last Checked: Aug 14 at 6:06AM
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 Distinguished Realty Services
Investment Insights
Based on property information with market context.
This is an 8-unit mixed-use asset, fully occupied and consisting of six two-bedroom residential units and two long-term retail tenants. The building has a total area of 8,864 square feet. The property was completely renovated in 2018. It generates a Net Operating Income of $191,385 and has a 9.57% Cap Rate.
Key Highlights
- High 9.57% Cap Rate at $1,999,000
- $191,385 Net Operating Income
- 100% Occupied
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
$152,033
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
7.61%
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%
$3,040,660
$3.0M
Cap Rate 7%
$2,171,900
$2.2M
Cap Rate 9%
$1,689,256
$1.7M
Market Conditions
NOI Build-Up for 8,864 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
$292.5K $33.00/SF
− Vacancy
−$16.1K −$1.82/SF
EGI
$276.4K $31.19/SF
− OpEx
−$124.4K −$14.03/SF
NOI
$152.0K $17.15/SF
Area
Westchester County, NY
Vacancy
5.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
45.00%
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%
$3,040,660
Cap Rate 7%
$2,171,900
Cap Rate 9%
$1,689,256
Alternative Uses
Best Use
Apartment 5plus
$2.17M
$1.90M – $2.53M
NOI $152,033 @ 7.0% cap · market cap 7.61%
Second Best
Mixed Use
$1.84M
$1.61M – $2.14M
NOI $128,473 @ 7.0% cap · market cap 6.43%
Theoretical Best
Retail
$2.68M
$2.34M – $3.12M
NOI $187,425 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,363
Businesses Nearby
Explore this area
Business Placement
Demographics for 10550, NY
41,137
Population
16,865
Households
2.4
Avg Household Size
38
Median Age
23%
College-Educated
82%
High-School Grad
2.0 sq mi
ZIP Area
20,569
Density / Sq Mi
$56,903
Median Household Income
$43,733
Median Earnings
$1,451
Median Rent
$482,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied, renovated mixed-use property with strong cash flow.
Where is this mixed-use property located?
The property is located at 199 Stevens Avenue Mount Vernon, NY.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: High 9.57% Cap Rate at $1,999,000; $191,385 Net Operating Income; 100% Occupied
