Mixed-Use Retail and Office
For Sale
$525,000
Pending
28 4TH AVE, Mount Vernon, NY 10550
First-floor retail area with a bright open layout and an upper-level office/storage space.
Property Size1,400 SF
Days on Market129
Property Features for 28 4TH AVE
General Information
Standard status
Pending
Size
1,400 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$19,028
Amenities
Central Air
3
Listing Agency:
ALLWIN Rlty International LLC
(917) 769-8118
Listed By:
Jiansong Pan
(646) 287-5524
Source:
Xome
Added: May 2
Changed: Sep 4
Last Checked: Sep 7 at 4:29AM
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 ALLWIN Rlty International LLC
Investment Insights
Based on property information with market context.
This mixed-use commercial property features a bright, open first-floor retail area with a wide, rectangular layout. An upper-level space is available for office use, storage, or a staff rest area, providing flexibility for a range of business setups.
The building is situated on Mount Vernon’s bustling retail corridor with strong pedestrian activity. It is positioned near public transportation, shopping centers, schools, and dense residential communities, supporting consistent local customer demand.
With both retail and upper-level space in one building, the layout can accommodate either owner-occupancy or rental income for a multi-use strategy.
The building is situated on Mount Vernon’s bustling retail corridor with strong pedestrian activity. It is positioned near public transportation, shopping centers, schools, and dense residential communities, supporting consistent local customer demand.
With both retail and upper-level space in one building, the layout can accommodate either owner-occupancy or rental income for a multi-use strategy.
Key Highlights
- Commercial space on Mount Vernon’s retail corridor with strong pedestrian traffic and steady customer flow
- First‑floor features a bright, open, rectangular retail area designed for product display and customer flow
- Upper‑level space provides office and/or storage use, with potential for a staff rest area
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
$29,602
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
5.64%
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%
$592,040
$592.0K
Cap Rate 7%
$422,886
$422.9K
Cap Rate 9%
$328,911
$328.9K
Market Conditions
NOI Build-Up for 1,400 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
$48.7K $34.80/SF
− Vacancy
−$6.4K −$4.59/SF
EGI
$42.3K $30.21/SF
− OpEx
−$12.7K −$9.06/SF
NOI
$29.6K $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%
$592,040
Cap Rate 7%
$422,886
Cap Rate 9%
$328,911
Alternative Uses
Best Use
Retail
$422.9K
$370.0K – $493.4K
NOI $29,602 @ 7.0% cap · market cap 5.64%
Second Best
Specialty Retail
$343.8K
$300.8K – $401.1K
NOI $24,066 @ 7.0% cap · market cap 4.58%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Knock on Hemp — 50 E Sandford Blvd, Mt Vernon, NY 10550
- CVS Pharmacy — 211 E Sandford Blvd, Mt Vernon, NY 10550
- Nellickel Joby — 4704 White Plains Rd, Bronx, NY 10470
- City Line Pharmacy — 4704 White Plains Rd, Bronx, NY 10470
- Platinum Cutz — 4435 Mundy Ln, Bronx, NY 10466
Frequently Asked Questions
What type of property is this?
Drug store - First-floor retail area with a bright open layout and an upper-level office/storage space.
Where is this drug store located?
The property is located at 28 4TH AVE Mount Vernon, NY.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Commercial space on Mount Vernon’s retail corridor with strong pedestrian traffic and steady customer flow; First‑floor features a bright, open, rectangular retail area designed for product display and customer flow; Upper‑level space provides office and/or storage use, with potential for a staff rest area
