Building Details

Buildings 2

Stories 2

Units 3

Listing Agency: Coldwell Banker Commercial j***@gmail.com Show Phone

Listed By: Justin Pieragostini · License #NY 10401203604

Source: Crexi

Added: Mar 19 Changed: Aug 8 Last Checked: Aug 21 at 6:47AM

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Investment Insights

Based on property information with market context.

This multifamily property features a 6.80% capitalization rate and includes 3 units. The property encompasses a total size of 4,255 square feet. It is located at 259 Westchester Ave, Pound Ridge, NY 10576.

Key Highlights

• Multifamily property, great for investors.
• Boasts a 6.80% CAP Rate.
• Features 3 units.

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

$72,981

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

2.92%

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%

$1,459,620 $1.5M

Cap Rate 7%

$1,042,586 $1.0M

Cap Rate 9%

$810,900 $810.9K

Market Conditions

NOI Build-Up for 4,255 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

$140.4K $33.00/SF

− Vacancy

−$7.7K −$1.82/SF

EGI

$132.7K $31.19/SF

− OpEx

−$59.7K −$14.03/SF

NOI

$73.0K $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%

$1,459,620

Cap Rate 7%

$1,042,586

Cap Rate 9%

$810,900

Alternative Uses

Best Use

Apartment 5plus

$1.04M

$912.3K – $1.22M (±1% cap)

NOI $72,981 @ 7.0% cap · market cap 2.92%

Second Best

Office B

$930.8K

$814.5K – $1.09M (±1% cap)

NOI $65,158 @ 7.0% cap · market cap 2.61%

Theoretical Best

Retail

$1.29M

$1.12M – $1.50M (±1% cap)

NOI $89,970 @ 7.0% cap · market cap 3.60%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Noelle Healing: Reiki ... Alternative Medicine Practice The Huntress New York ... Home Decor Store Hedgerow (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Auto Repair Shop Dental Office Restaurant HVAC Service Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

75

Businesses Nearby

Explore this area Business Placement

Demographics for 10576, NY

5,099

Population

1,974

Households

2.6

Avg Household Size

49

Median Age

77%

College-Educated

98%

High-School Grad

22.4 sq mi

ZIP Area

228

Density / Sq Mi

$227,344

Median Household Income

$79,625

Median Earnings

$3,501

Median Rent

$1,014,900

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Multifamily property featuring a 6.80% CAP rate and 3 units.

Where is this mixed-use property located?

The property is located at 259 Westchester Ave Pound Ridge, NY.

What is the asking price?

The asking price for this property is $2,499,000.

What are key features of this property?

This property features: Multifamily property, great for investors.; Boasts a 6.80% CAP Rate.; Features 3 units.