Mount Vernon Industrial/Commercial
For Sale
Contact for pricing
Pending
323 Washington St, Mount Vernon, NY
Versatile industrial property suitable for various commercial uses.
Property Size2,024 SF
Lot Size0.12 Acres
Days on Market491
Property Features for 323 Washington St
General Information
Standard status
Pending
Size
2,024 SF
Lot size
0.12 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Triforce Commercial Real Estate
(845) 450-6500
Listed By:
Jason Horowitz · License ##10491207540
(845) 323-9177
Source:
Moodyscre
Added: May 13, 2025
Changed: Aug 8
Last Checked: Sep 14 at 6:22AM
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 Triforce Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 323 Washington Street in Mount Vernon, NY, this industrial/commercial property is currently occupied by a glass business. The building presents an opportunity for various commercial or light industrial uses. The interior ceiling height is approximately 11'10", making it suitable for warehousing, light manufacturing, distribution, or use as a trade shop. The property features a solid industrial build, a flexible interior layout, and convenient street-level access for loading and unloading materials. A small yard is located off to the side. The property is zoned for industrial use and offers excellent accessibility and visibility. Its location provides proximity to major roadways and the Metro-North, facilitating efficient logistics and a connection to the Westchester and NYC markets. This property is ideal for owner-users or investors.
Key Highlights
- Excellent accessibility and visibility near major roadways and the Metro‑North, connecting to Westchester and NYC.
- Zoned for industrial use, offering versatile opportunities.
- Approximately 11'10" clear interior height, suitable for warehousing, light manufacturing, or distribution.
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
$31,017
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
4.00%
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%
$620,340
$620.3K
Cap Rate 7%
$443,100
$443.1K
Cap Rate 9%
$344,633
$344.6K
Market Conditions
NOI Build-Up for 2,024 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
$38.9K $19.20/SF
− Vacancy
−$2.4K −$1.17/SF
EGI
$36.5K $18.03/SF
− OpEx
−$5.5K −$2.70/SF
NOI
$31.0K $15.32/SF
Area
Westchester County, NY
Vacancy
6.10%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
15.00%
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%
$620,340
Cap Rate 7%
$443,100
Cap Rate 9%
$344,633
Alternative Uses
Best Use
Warehouse
$443.1K
$387.7K – $517.0K
NOI $31,017 @ 7.0% cap · market cap 4.00%
Second Best
Industrial
$410.5K
$359.2K – $478.9K
NOI $28,736 @ 7.0% cap · market cap 3.71%
Theoretical Best
Retail
$611.4K
$535.0K – $713.3K
NOI $42,796 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,290
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Warehouse - Versatile industrial property suitable for various commercial uses.
Where is this warehouse located?
The property is located at 323 Washington St Mount Vernon, NY.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Excellent accessibility and visibility near major roadways and the Metro‑North, connecting to Westchester and NYC.; Zoned for industrial use, offering versatile opportunities.; Approximately 11'10" clear interior height, suitable for warehousing, light manufacturing, or distribution.
