Commercially Zoned
For Sale
Contact for pricing
3426 Lexington Avenue, Mohegan Lake, NY 10547
Tenant-occupied two-family residence on approximately one acre with month-to-month leases.
Property Size2,500 SF
Lot Size1.00 Acre
Price / SF$319.60
Days on Market171
Property Features for 3426 Lexington Avenue
General Information
Standard status
Active
Size
2,500 SF
Lot size
1.00 Acre
Property subtype
Retail
Additional Details
Land Use
residential
Building Details
Year Built
1927
Buildings
1
Tenancy
Multi
Listing Agency:
William Raveis Real Estate Rye
Listed By:
Jason Kerwar · License #30KE1103257
(914) 762-0070
Source:
Crexi
Added: Apr 28
Changed: Oct 14
Last Checked: Oct 14 at 10:51PM
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 William Raveis Real Estate Rye
Investment Insights
Based on property information with market context.
This two-family duplex contains 2,500 SF and was built in 1927. Both residences are currently occupied under month-to-month lease arrangements, supporting continued rental use while retaining flexibility for future decisions. The property comprises four commercially zoned lots with a combined area of approximately one acre, creating a larger land component than the existing residential improvements alone would suggest.
Located at 3426 Lexington Avenue in Mohegan Lake, New York, the property combines an established two-family use with commercial zoning. The current configuration can remain income-producing, while the lot assembly may also support expansion, repositioning, or redevelopment subject to applicable approvals.
Located at 3426 Lexington Avenue in Mohegan Lake, New York, the property combines an established two-family use with commercial zoning. The current configuration can remain income-producing, while the lot assembly may also support expansion, repositioning, or redevelopment subject to applicable approvals.
Key Highlights
- Two‑family duplex with 2,500 SF of property size
- Four commercially zoned lots
- Combined land area of approximately one acre
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,695
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$973,900
$973.9K
Cap Rate 7%
$695,643
$695.6K
Cap Rate 9%
$541,056
$541.1K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$74.4K $29.76/SF
− Vacancy
−$4.8K −$1.93/SF
EGI
$69.6K $27.83/SF
− OpEx
−$20.9K −$8.35/SF
NOI
$48.7K $19.48/SF
Area
Westchester County, NY
Vacancy
6.50%
Lease Rate
$29.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$973,900
Cap Rate 7%
$695,643
Cap Rate 9%
$541,056
Alternative Uses
Best Use
Multifamily LT 5
$695.6K
$608.7K – $811.6K
NOI $48,695 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$612.6K
$536.0K – $714.7K
NOI $42,879 @ 7.0% cap · market cap 5.37%
Theoretical Best
Retail
$755.2K
$660.8K – $881.0K
NOI $52,861 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied two-family residence on approximately one acre with month-to-month leases.
Where is this duplex located?
The property is located at 3426 Lexington Avenue Mohegan Lake, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑family duplex with 2,500 SF of property size; Four commercially zoned lots; Combined land area of approximately one acre
