Building Details

Building Size 5,500 SF

Year Built 1930

Buildings 1

Tenancy Multi

Listing Agency: William Raveis Real Estate j***@raveis.com Show Phone

Listed By: Jason Kerwar · License #30KE1103257 Show Phone

Source: Gillianstewart

Added: Apr 14 Changed: Oct 23 Last Checked: Oct 23 at 4:35PM

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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

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 5,500-square-foot mixed-use building, constructed in 1930, combines a restaurant with three residential apartments. The restaurant has newly installed improvements and has not yet been used. Apartment layouts include one three-bedroom unit, one two-bedroom unit, and an attic apartment.

Each apartment has a separate electric meter. All three residential units are leased on a month-to-month basis.

Key Highlights

• 5,500‑square‑foot mixed‑use building constructed in 1930
• Restaurant space has newly installed improvements and has never been used
• Three residential units: one 3‑bedroom, one 2‑bedroom, and an attic apartment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$94,545

Cap Rate

4.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,890,900 $1.9M

Cap Rate 7%

$1,350,643 $1.4M

Cap Rate 9%

$1,050,500 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,500 SF

Gross rent

$132.0K $24.00/SF

− Vacancy

−$5.9K −$1.08/SF

EGI

$126.1K $22.92/SF

− OpEx

−$31.5K −$5.73/SF

NOI

$94.5K $17.19/SF

Area

Westchester County, NY

Vacancy

4.50%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,890,900

Cap Rate 7%

$1,350,643

Cap Rate 9%

$1,050,500

Alternative Uses

Best Use

Specialty Retail

$1.35M

$1.18M – $1.58M (±1% cap)

NOI $94,545 @ 7.0% cap · market cap 4.85%

Second Best

Apartment 5plus

$1.35M

$1.18M – $1.57M (±1% cap)

NOI $94,335 @ 7.0% cap · market cap 4.84%

Theoretical Best

Retail

$1.66M

$1.45M – $1.94M (±1% cap)

NOI $116,295 @ 7.0% cap · market cap 5.96%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Real Estate Agency Law Firm Kitchen & Bath Showroom Bakery Grocery & Convenience Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Three apartments provide additional residential space, each served by a separate electric meter.

Where is this mixed-use property located?

The property is located at 3432 Lexington Avenue Mohegan Lake, NY.

What is the asking price?

The asking price for this property is $1,950,000.

What are key features of this property?

This property features: 5,500‑square‑foot mixed‑use building constructed in 1930; Restaurant space has newly installed improvements and has never been used; Three residential units: one 3‑bedroom, one 2‑bedroom, and an attic apartment