Single-Story Retail Strip
For Sale
Contact for pricing
324 S Columbus Ave, Mount Vernon, NY 10553
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 Market216
Property Features for 324 S Columbus Ave
General Information
Standard status
Active
Size
3,500 SF
Property subtype
RETAIL
Occupancy
80%
Building Details
Stories
1
Tenancy
Multi
Listing Agency:
RIPCO Real Estate - Brooklyn
(718) 233-6565
Listed By:
Mitchel Flaherty
(917) 348-0242
Source:
Moodyscre
Added: Feb 6
Changed: Sep 6
Last Checked: Sep 9 at 4:12PM
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
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
$74,006
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
6.30%
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%
$1,480,120
$1.5M
Cap Rate 7%
$1,057,229
$1.1M
Cap Rate 9%
$822,289
$822.3K
Market Conditions
NOI Build-Up for 3,500 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
$121.8K $34.80/SF
− Vacancy
−$16.1K −$4.59/SF
EGI
$105.7K $30.21/SF
− OpEx
−$31.7K −$9.06/SF
NOI
$74.0K $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%
$1,480,120
Cap Rate 7%
$1,057,229
Cap Rate 9%
$822,289
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 authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
80%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,407
Businesses Nearby
195k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Electronics 28%
Shops & Services 26%
Office Supplies 12%
Best Buy
Electronics
50,299 visits/mo
0.2 miles
McDonald's
Dining
34,097 visits/mo
0.5 miles
Staples
Office Supplies
23,106 visits/mo
0.3 miles
Dollar Tree
Shops & Services
16,606 visits/mo
0.3 miles
Burger King
Dining
13,190 visits/mo
0.3 miles
Demographics for 10553, NY
11,281
Population
3,801
Households
3
Avg Household Size
38
Median Age
43%
College-Educated
82%
High-School Grad
0.7 sq mi
ZIP Area
16,116
Density / Sq Mi
$84,173
Median Household Income
$52,668
Median Earnings
$1,771
Median Rent
$490,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
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
