Flex Space with Drive-In
For Sale
$2,500,000
22 W Lincoln Avenue, Mount Vernon, NY 10550
Combines contiguous retail and warehouse areas with a separately accessed second-floor office.
Property Size5,220 SF
Price / SF$478.93
Days on Market59
Property Features for 22 W Lincoln Avenue
General Information
Standard status
Active
Size
5,220 SF
Class
C
Total Parking Spaces
10
Property subtype
Commercial
Zoning
NB
Warehouse & Industrial
Clear Height
12 ft
Drive-In Doors
1
Three-Phase Power
Yes
Taxes and HOA fees
Annual Taxes
$30,624
Amenities
12' ceilings
drive-in 10' roll top door
equipment cages
3 Phase Electrical panels
Building Details
Building Size
5,220 SF
Year Built
1962
Buildings
1
Stories
2
Units
4
Listing Agency:
Rand Commercial
(719) 313-7320
Listed By:
Kyle Knauf · License #10401346465
(719) 313-7320
Source:
Cornerstonemyhome
Added: Jul 3
Changed: Aug 30
Last Checked: Aug 25 at 9:13AM
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 Rand Commercial
Investment Insights
Based on property information with market context.
This flex property combines contiguous retail and warehouse areas with a separately accessed second-floor office, creating a varied commercial layout for distribution and customer-facing activities. The warehouse portion includes 12-foot ceilings, a drive-in 10-foot roll-up door, equipment cages, and 3-phase electrical panels. The building was constructed in 1962.
Located at 22 W Lincoln Ave in Mount Vernon, the property is near Fleetwood and Sunset Park. Four bus lines are within walking distance, and the Metro-North train station is 0.8 miles away. The combination of retail, warehouse, and office components provides multiple functional areas within one commercial property.
Located at 22 W Lincoln Ave in Mount Vernon, the property is near Fleetwood and Sunset Park. Four bus lines are within walking distance, and the Metro-North train station is 0.8 miles away. The combination of retail, warehouse, and office components provides multiple functional areas within one commercial property.
Key Highlights
- 12‑foot warehouse ceilings
- Drive‑in 10‑foot roll‑up door
- 3‑phase electrical panels
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
$110,374
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
4.41%
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%
$2,207,480
$2.2M
Cap Rate 7%
$1,576,771
$1.6M
Cap Rate 9%
$1,226,378
$1.2M
Market Conditions
NOI Build-Up for 5,220 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
$181.7K $34.80/SF
− Vacancy
−$24.0K −$4.59/SF
EGI
$157.7K $30.21/SF
− OpEx
−$47.3K −$9.06/SF
NOI
$110.4K $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%
$2,207,480
Cap Rate 7%
$1,576,771
Cap Rate 9%
$1,226,378
Alternative Uses
Best Use
Retail
$1.58M
$1.38M – $1.84M
NOI $110,374 @ 7.0% cap · market cap 4.41%
Second Best
Warehouse
$1.14M
$999.9K – $1.33M
NOI $79,994 @ 7.0% cap · market cap 3.20%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
2,720
Businesses Nearby
Under-served
Demand for This Use
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 Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Combines contiguous retail and warehouse areas with a separately accessed second-floor office.
Where is this flex space located?
The property is located at 22 W Lincoln Avenue Mount Vernon, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 12‑foot warehouse ceilings; Drive‑in 10‑foot roll‑up door; 3‑phase electrical panels
