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 Market125
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
(914) 762-0070
Listed By:
Jason Kerwar · License #30KE1103257
Source:
Crexi
Added: Apr 28
Changed: Aug 30
Last Checked: Aug 30 at 5:02AM
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 = 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
$48,695
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
6.09%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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
