Single-Story Retail Strip
324 S Columbus Ave Mount Vernon, NY 10553
For Sale
Contact for pricing
Single-story storefront strip with five units, 80% leased, positioned across from Graham Elementary School.
Property Size3,500 SF
Price / SF$335.71
Days on Market169
Property Features for 324 S Columbus Ave
General Information
- Standard status
- Active
- Size
- 3,500 SF
- Property subtype
- RETAIL
Listing Agency:
RIPCO Real Estate - Brooklyn
(917) 348-0242
Listed By:
Mitchel Flaherty · License #10401277435
Source:
Moodyscre
Added: Feb 6
Changed: Jul 25
Last Checked: Jul 25 at 3:22AM
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 RIPCO Real Estate - Brooklyn
Investment Insights
Based on property information with market context.
This single-story retail strip center offers a five-unit storefront configuration designed for straightforward tenancy and operations. The property is currently 80% leased, supporting an in-place income stream with limited overhead and a turnkey retail format.
The building is located directly across from Graham Elementary School. It also sits about two blocks from major retailers including Target, TJ Maxx, and Petco, which can help sustain neighborhood retail demand.
For buyers seeking a stable, low-complexity asset, this property provides a multi-tenant setup without requiring repositioning or rehab work, based on the current condition and existing leasing profile.
The building is located directly across from Graham Elementary School. It also sits about two blocks from major retailers including Target, TJ Maxx, and Petco, which can help sustain neighborhood retail demand.
For buyers seeking a stable, low-complexity asset, this property provides a multi-tenant setup without requiring repositioning or rehab work, based on the current condition and existing leasing profile.
Key Highlights
- Single‑story storefront retail strip with 5 units
- 80% leased with in‑place cash flow
- Multi‑tenant retail format with minimal complexity and limited overhead
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $121.8k | $34.80 |
| − Vacancy | −$16.1k | −$4.59 |
| EGI | $105.7k | $30.21 |
| − OpEx | −$31.7k | −$9.06 |
| NOI | $74.0k | $21.14 |
3,500 SF · lease $34.80/SF/yr · vacancy 13.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.06M
$925.1K – $1.23M
NOI $74,006 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
ATM
Atm
FAQs
What type of property is this?
Strip mall - Single-story storefront strip with five units, 80% leased, positioned across from Graham Elementary School.
Where is this strip mall located?
The property is located at 324 S Columbus Ave Mount Vernon, NY.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Single‑story storefront retail strip with 5 units; 80% leased with in‑place cash flow; Multi‑tenant retail format with minimal complexity and limited overhead
