Two-Story Office and Medical
For Sale
$700,000
3244 Main St E, Mohegan Lake, NY 10547
Two-story office and medical space with basement level and parking along a highly visible roadway.
Property Size2,700 SF
Days on Market70
Property Features for 3244 Main St E
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,459
Building Details
Building Size
2,700 SF
Stories
1
Listing Agency:
Champion Realty Associates, Inc.
(914) 473-0718
Listed By:
Anthony Naraine
(914) 473-0718
Source:
Elliman
Added: Jun 12
Changed: Aug 14
Last Checked: Aug 20 at 4:53AM
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 Champion Realty Associates, Inc.
Investment Insights
Based on property information with market context.
This property is a two-story office building with an additional basement level, suitable for office or medical use. The offering includes on-site parking to support day-to-day staff and patient access. The layout provides multiple levels within a single building, giving tenants flexibility to organize their operations across floors.
Located at 3244 Main St E in Mohegan Lake, NY, the building sits along a busy road and benefits from strong visibility. The surrounding access pattern is car-dependent, aligning with the property’s emphasis on parking.
For tenants or buyers seeking an office or medical facility, this configuration can support organizations that need space for professional work across more than one level. The property’s straightforward office/medical positioning and available parking make it practical for teams looking for a facility designed to accommodate client or patient visits, while the roadway visibility can help improve day-to-day awareness for passersby. The property is also available for lease; inquiries can be directed for details.
Located at 3244 Main St E in Mohegan Lake, NY, the building sits along a busy road and benefits from strong visibility. The surrounding access pattern is car-dependent, aligning with the property’s emphasis on parking.
For tenants or buyers seeking an office or medical facility, this configuration can support organizations that need space for professional work across more than one level. The property’s straightforward office/medical positioning and available parking make it practical for teams looking for a facility designed to accommodate client or patient visits, while the roadway visibility can help improve day-to-day awareness for passersby. The property is also available for lease; inquiries can be directed for details.
Key Highlights
- Two‑story office and medical space with a basement level
- Parking available on‑site
- Located on a busy, highly visible roadway
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
$43,983
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
6.28%
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%
$879,660
$879.7K
Cap Rate 7%
$628,329
$628.3K
Cap Rate 9%
$488,700
$488.7K
Market Conditions
NOI Build-Up for 2,700 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
$81.0K $30.00/SF
− Vacancy
−$7.7K −$2.85/SF
EGI
$73.3K $27.15/SF
− OpEx
−$29.3K −$10.86/SF
NOI
$44.0K $16.29/SF
Area
Westchester County, NY
Vacancy
9.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$879,660
Cap Rate 7%
$628,329
Cap Rate 9%
$488,700
Alternative Uses
Best Use
Healthcare Medical
$628.3K
$549.8K – $733.1K
NOI $43,983 @ 7.0% cap · market cap 6.28%
Second Best
Office B
$590.7K
$516.8K – $689.1K
NOI $41,346 @ 7.0% cap · market cap 5.91%
Theoretical Best
Retail
$815.6K
$713.6K – $951.5K
NOI $57,090 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 10547, NY
7,293
Population
2,956
Households
2.5
Avg Household Size
44
Median Age
52%
College-Educated
92%
High-School Grad
4.9 sq mi
ZIP Area
1,488
Density / Sq Mi
$155,295
Median Household Income
$69,058
Median Earnings
$2,363
Median Rent
$479,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-story office and medical space with basement level and parking along a highly visible roadway.
Where is this medical office space located?
The property is located at 3244 Main St E Mohegan Lake, NY.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Two‑story office and medical space with a basement level; Parking available on‑site; Located on a busy, highly visible roadway
