Fully Leased Triplex With
For Sale
$1,599,000
25 Fremont St, Harrison, NY 10528
Three-unit rental property with a two-car garage and in-unit laundry.
Property Size3,415 SF
Days on Market9
Property Features for 25 Fremont St
General Information
Standard status
Active
Size
3,415 SF
Total Parking Spaces
2
Property subtype
Investment
Occupancy
100%
Net Operating Income
$153,808
Financials
Cap Rate
7%
Gross Income
$155,400
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$20,959
Amenities
in-unit laundry
Building Details
Building Size
3,415 SF
Year Built
1928
Buildings
1
Units
3
Tenancy
Multi
Listing Agency:
(914) 424-6793
Listed By:
Michelle Madaffari
(914) 424-6793
Source:
Elliman
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 20 at 8:55AM
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 Michelle Madaffari
Investment Insights
Based on property information with market context.
Built in 1928, this fully occupied triplex contains three residential units with a 4BR/1BA, 3BR/1BA, and 2BR/2BA configuration. The first-floor residence has in-unit laundry, while a separate two-car garage is currently unused by residents. Utility responsibility varies by unit: tenants pay electric and gas in two apartments, and the owner covers utilities for the 2BR/2BA unit.
The property is positioned at the end of a quiet no-outlet street at 25 Fremont St in Harrison. Metro-North, local shops, and Harrison schools are described as a short commute away. Walk Score is 80, Bike Score is 63, and Transit Score is 48.
Additional improvements include a new above-ground 330-gallon oil tank and a roof that is 10 years old. The asset carries an approximately 7% cap rate and is fully leased, with the garage providing separate storage-use potential.
The property is positioned at the end of a quiet no-outlet street at 25 Fremont St in Harrison. Metro-North, local shops, and Harrison schools are described as a short commute away. Walk Score is 80, Bike Score is 63, and Transit Score is 48.
Additional improvements include a new above-ground 330-gallon oil tank and a roof that is 10 years old. The asset carries an approximately 7% cap rate and is fully leased, with the garage providing separate storage-use potential.
Key Highlights
- Fully leased three‑unit property with approximately 7% cap rate
- Unit mix includes 4BR/1BA, 3BR/1BA, and 2BR/2BA apartments
- Large 2‑car garage currently unused by tenants
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
$66,517
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
4.16%
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%
$1,330,340
$1.3M
Cap Rate 7%
$950,243
$950.2K
Cap Rate 9%
$739,078
$739.1K
Market Conditions
NOI Build-Up for 3,415 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
$101.6K $29.76/SF
− Vacancy
−$6.6K −$1.93/SF
EGI
$95.0K $27.83/SF
− OpEx
−$28.5K −$8.35/SF
NOI
$66.5K $19.48/SF
Area
Westchester County, NY
Vacancy
6.50%
Lease Rate
$29.76 /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%
$1,330,340
Cap Rate 7%
$950,243
Cap Rate 9%
$739,078
Alternative Uses
Best Use
Multifamily LT 5
$950.2K
$831.5K – $1.11M
NOI $66,517 @ 7.0% cap · market cap 4.16%
Second Best
Apartment 5plus
$836.8K
$732.2K – $976.2K
NOI $58,573 @ 7.0% cap · market cap 3.66%
Theoretical Best
Retail
$1.03M
$902.6K – $1.20M
NOI $72,208 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
929
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit rental property with a two-car garage and in-unit laundry.
Where is this triplex located?
The property is located at 25 Fremont St Harrison, NY.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Fully leased three‑unit property with approximately 7% cap rate; Unit mix includes 4BR/1BA, 3BR/1BA, and 2BR/2BA apartments; Large 2‑car garage currently unused by tenants
