Mount Vernon Retail Pharmacy
For Sale
Contact for pricing
Pending
26B South 4th Avenue, Mt Vernon, NY 10550
Established pharmacy retail store in vibrant downtown location.
Property Size1,800 SF
Days on Market89
Property Features for 26B South 4th Avenue
General Information
Standard status
Pending
Size
1,800 SF
Property subtype
Retail, Office
Zoning
Downtown Business (DB)
Occupancy
100%
Lease Type
Net
Building Details
Year Built
1954
Year Renovated
1983
Buildings
1
Stories
2
Units
1
Tenancy
Single
Listing Agency:
Hanmi Realty
Listed By:
Diane Mi Ryoung Chong · License #10401220770
Source:
Crexi
Added: May 23
Changed: Aug 19
Last Checked: Aug 17 at 10:21AM
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 Hanmi Realty
Investment Insights
Based on property information with market context.
This single-tenant building, approximately 1,800 square feet, houses a well-established, reputable, and stable family-owned pharmacy retail store that has been in operation for many years. The store occupies both the street level and the second floor, with around 1,300 square feet on the first floor and approximately 500 square feet of office space and storage on the second floor. The lot size is around 1,300 square feet. The property benefits from high foot traffic, prominent sign frontage, and large street-facing windows, situated in the vibrant downtown area of Mount Vernon. The location sees over 4,600 cars per day and is near Bee-line bus stops (routes 40, 41, 42, 43, 52, 53, 54), a Chase bank, Westchester Community College, and a McDonald's. It is also located four blocks from the Mount Vernon East Metro-North train station. Nearby businesses include Golden Krust Caribbean, Boost Mobile, Metro by T-Mobile, VIM, Rainbow clothing shop, Jackson Hewitt, and Liberty Tax. Popeye's, Domino's Pizza, Foodtown, City Hall, the post office, and the police station are also in close proximity. The current lease expires on May 31st, 2027, with the landlord having the option to renew. The property generates a yearly gross rental income of $41,000 and a yearly net rental income of approximately $26,000, representing a 7.4% cap rate.
Key Highlights
- Stable, family‑owned pharmacy tenant in place with lease expiring May 31, 2027, providing immediate rental income.
- High‑visibility location in vibrant downtown Mount Vernon with excellent foot and vehicle traffic.
- Solid investment opportunity with a 7.4% cap rate and $26k net rental income.
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
$30,942
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
8.84%
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%
$618,840
$618.8K
Cap Rate 7%
$442,029
$442.0K
Cap Rate 9%
$343,800
$343.8K
Market Conditions
NOI Build-Up for 1,800 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
$43.2K $24.00/SF
− Vacancy
−$1.9K −$1.08/SF
EGI
$41.3K $22.92/SF
− OpEx
−$10.3K −$5.73/SF
NOI
$30.9K $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%
$618,840
Cap Rate 7%
$442,029
Cap Rate 9%
$343,800
Alternative Uses
Best Use
Retail
$543.7K
$475.8K – $634.3K
NOI $38,060 @ 7.0% cap · market cap 10.87%
Second Best
Specialty Retail
$442.0K
$386.8K – $515.7K
NOI $30,942 @ 7.0% cap · market cap 8.84%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,022
Businesses Nearby
128k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 39%
Shops & Services 34%
Dining 14%
Apparel 8%
Food Bazaar Supermarket
Groceries
49,467 visits/mo
0.1 miles
Family Dollar
Shops & Services
9,515 visits/mo
0.5 miles
Gulf Oil
Shops & Services
8,519 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
7,852 visits/mo
0.3 miles
Dollar General
Shops & Services
7,451 visits/mo
0.5 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
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Similar Off Market Nearby
- CVS Pharmacy — 211 E Sandford Blvd, Mt Vernon, NY 10550
- Nellickel Joby — 4704 White Plains Rd, Bronx, NY 10470
- Platinum Cutz — 4435 Mundy Ln, Bronx, NY 10466
- Knock on Hemp — 50 E Sandford Blvd, Mt Vernon, NY 10550
- City Line Pharmacy — 4704 White Plains Rd, Bronx, NY 10470
Frequently Asked Questions
What type of property is this?
Drug store - Established pharmacy retail store in vibrant downtown location.
Where is this drug store located?
The property is located at 26B South 4th Avenue Mt Vernon, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Stable, family‑owned pharmacy tenant in place with lease expiring May 31, 2027, providing immediate rental income.; High‑visibility location in vibrant downtown Mount Vernon with excellent foot and vehicle traffic.; Solid investment opportunity with a 7.4% cap rate and $26k net rental income.
