Renovated Victorian Mixed-Use
For Sale
$1,190,000
241 E Main, Mount Kisco, NY 10549
Two-level commercial property combines a bar and lounge with a spa and private parking on Main Street.
Property Size3,561 SF
Lot Size0.40 Acres
Days on Market158
Property Features for 241 E Main
General Information
Standard status
Active
Size
3,561 SF
Total Parking Spaces
14
Lot size
0.40 Acres
Property subtype
Retail
Occupancy
100%
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$26,000
Building Details
Building Size
3,561 SF
Year Built
1890
Listing Agency:
The Foxes Real Estate
Listed By:
Roger Fox
(914) 421-6500
Source:
Ginnel
Added: Apr 14
Changed: Sep 16
Last Checked: Sep 18 at 11:59AM
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 The Foxes Real Estate
Investment Insights
Based on property information with market context.
Built in 1890 and renovated for mixed-use operation, this Victorian commercial property offers two distinct levels of use. The first floor contains a bar and lounge, while the second floor is configured as a spa. The property is currently fully leased and includes private parking for 14 cars.
Located at 241 E Main in Mount Kisco, the building occupies a 17,600-square-foot lot measuring 80 by 220 feet. Its Main Street setting provides a prominent commercial address for the existing bar, lounge, and spa configuration.
Located at 241 E Main in Mount Kisco, the building occupies a 17,600-square-foot lot measuring 80 by 220 feet. Its Main Street setting provides a prominent commercial address for the existing bar, lounge, and spa configuration.
Key Highlights
- Renovated Victorian commercial property built in 1890
- First‑floor bar and lounge
- Second‑floor spa space
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
$61,214
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
5.14%
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%
$1,224,280
$1.2M
Cap Rate 7%
$874,486
$874.5K
Cap Rate 9%
$680,156
$680.2K
Market Conditions
NOI Build-Up for 3,561 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
$85.5K $24.00/SF
− Vacancy
−$3.8K −$1.08/SF
EGI
$81.6K $22.92/SF
− OpEx
−$20.4K −$5.73/SF
NOI
$61.2K $17.19/SF
Area
Westchester County, NY
Vacancy
4.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,224,280
Cap Rate 7%
$874,486
Cap Rate 9%
$680,156
Alternative Uses
Best Use
Specialty Retail
$874.5K
$765.2K – $1.02M
NOI $61,214 @ 7.0% cap · market cap 5.14%
Second Best
Mixed Use
$737.3K
$645.2K – $860.2K
NOI $51,612 @ 7.0% cap · market cap 4.34%
Theoretical Best
Retail
$1.08M
$941.2K – $1.25M
NOI $75,295 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,259
Businesses Nearby
77k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 27%
Electronics 8%
Apparel 7%
Party City
Shops & Services
11,086 visits/mo
0.2 miles
Starbucks
Dining
10,960 visits/mo
0.4 miles
Bank of America
Shops & Services
6,797 visits/mo
0.4 miles
Citibank
Shops & Services
6,793 visits/mo
0.4 miles
Chopt
Dining
6,136 visits/mo
0.4 miles
Demographics for 10549, NY
16,837
Population
6,339
Households
2.7
Avg Household Size
42
Median Age
60%
College-Educated
88%
High-School Grad
19.1 sq mi
ZIP Area
882
Density / Sq Mi
$122,327
Median Household Income
$67,836
Median Earnings
$1,686
Median Rent
$652,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level commercial property combines a bar and lounge with a spa and private parking on Main Street.
Where is this mixed-use property located?
The property is located at 241 E Main Mount Kisco, NY.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Renovated Victorian commercial property built in 1890; First‑floor bar and lounge; Second‑floor spa space
