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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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

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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