Brick Grocery and Convenience
For Sale
$699,000
26 W Third St, Mount Vernon, NY 10550
Deli and grocery operation in a brick commercial building near transit and schools.
Property Size2,500 SF
Days on Market8
Property Features for 26 W Third St
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$14,093
Building Details
Building Size
2,500 SF
Units
1
Construction
brick
Listing Agency:
RE/MAX Distinguished Homes & Properties
(646) 685-6269
Listed By:
Hermi Aquino · License #30AQ1103641
(646) 685-6269
Source:
Elliman
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 19 at 12:44PM
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 RE/MAX Distinguished Homes & Properties
Investment Insights
Based on property information with market context.
Located at 26 W Third St in Mount Vernon, this offering includes a deli and grocery business along with the underlying commercial building. The structure is built of solid brick and has supported the operation for more than 30 years. The property is positioned near major highways, schools, and public transportation, with a walkable setting reflected in its Walk Score of 74. Additional location metrics include a Bike Score of 53 and a Transit Score of 66.
Key Highlights
- Deli and grocery business operating for over 30 years
- Solid brick commercial building at 26 W Third St
- Near major highways, schools, and public transportation
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
$52,861
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
7.56%
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%
$1,057,220
$1.1M
Cap Rate 7%
$755,157
$755.2K
Cap Rate 9%
$587,344
$587.3K
Market Conditions
NOI Build-Up for 2,500 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
$87.0K $34.80/SF
− Vacancy
−$11.5K −$4.59/SF
EGI
$75.5K $30.21/SF
− OpEx
−$22.7K −$9.06/SF
NOI
$52.9K $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%
$1,057,220
Cap Rate 7%
$755,157
Cap Rate 9%
$587,344
Alternative Uses
Best Use
Retail
$755.2K
$660.8K – $881.0K
NOI $52,861 @ 7.0% cap · market cap 7.56%
Second Best
Specialty Retail
$613.9K
$537.2K – $716.3K
NOI $42,975 @ 7.0% cap · market cap 6.15%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,021
Businesses Nearby
112k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 44%
Shops & Services 24%
Dining 16%
Apparel 9%
Food Bazaar Supermarket
Groceries
49,467 visits/mo
0.2 miles
Gulf Oil
Shops & Services
8,519 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
7,852 visits/mo
0.4 miles
Dollar General
Shops & Services
7,451 visits/mo
0.5 miles
Papa John's Pizza
Dining
6,061 visits/mo
0.4 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Las Antillas Produce Meat Market — 169 E 3rd St, Mt Vernon, NY 10550
- Caribbean Supermarket — 223 W 1st St, Mt Vernon, NY 10550
- Foodtown of Mount Vernon — 31 E Prospect Ave, Mt Vernon, NY 10550
- Bani Food Market Corporation — 15 S Fulton Ave, Mt Vernon, NY 10550
- Fine Fare Supermarkets — 4725 White Plains Rd, Bronx, NY 10470
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Deli and grocery operation in a brick commercial building near transit and schools.
Where is this grocery and convenience store located?
The property is located at 26 W Third St Mount Vernon, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Deli and grocery business operating for over 30 years; Solid brick commercial building at 26 W Third St; Near major highways, schools, and public transportation
