Mixed-Use Property with
For Sale
$1,595,000
3436 Lexington Avenue, Mohegan Lake, NY 10547
Restaurant space with a full-service bar, outdoor patio, and an apartment above.
Property Size4,100 SF
Days on Market139
Property Features for 3436 Lexington Avenue
General Information
Standard status
Active
Size
4,100 SF
Total Parking Spaces
30
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$23,133
Building Details
Building Size
4,100 SF
Year Built
1965
Listing Agency:
William Raveis Real Estate
(914) 469-9737
Listed By:
Jason Kerwar
(914) 469-9737
Source:
Maurafinnegan
Added: Apr 14
Changed: Aug 29
Last Checked: Aug 25 at 9:24AM
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
Investment Insights
Based on property information with market context.
This mixed-use property combines a restaurant operation with residential space in a two-level configuration. The restaurant includes a full-service bar, outdoor patio, seating for approximately 100 guests, and central air. An upper-level two-bedroom apartment is also part of the property and is occupied by a month-to-month tenant.
The property contains 4,100 square feet on a 0.31-acre site at 3436 Lexington Ave in Mohegan Lake, NY. It was built in 1965 and includes approximately 30 parking spaces positioned at the rear and side of the property. Route 6 is located immediately nearby, providing direct access to a recognized regional roadway.
The property contains 4,100 square feet on a 0.31-acre site at 3436 Lexington Ave in Mohegan Lake, NY. It was built in 1965 and includes approximately 30 parking spaces positioned at the rear and side of the property. Route 6 is located immediately nearby, providing direct access to a recognized regional roadway.
Key Highlights
- Mixed‑use property with restaurant and upper‑level two‑bedroom apartment
- 4,100‑square‑foot building on a 0.31‑acre site
- Full‑service bar, outdoor patio, and seating for approximately 100 guests
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
$70,479
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
4.42%
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%
$1,409,580
$1.4M
Cap Rate 7%
$1,006,843
$1.0M
Cap Rate 9%
$783,100
$783.1K
Market Conditions
NOI Build-Up for 4,100 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
$98.4K $24.00/SF
− Vacancy
−$4.4K −$1.08/SF
EGI
$94.0K $22.92/SF
− OpEx
−$23.5K −$5.73/SF
NOI
$70.5K $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 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%
$1,409,580
Cap Rate 7%
$1,006,843
Cap Rate 9%
$783,100
Alternative Uses
Best Use
Specialty Retail
$1.01M
$881.0K – $1.17M
NOI $70,479 @ 7.0% cap · market cap 4.42%
Second Best
Mixed Use
$848.9K
$742.8K – $990.4K
NOI $59,424 @ 7.0% cap · market cap 3.73%
Theoretical Best
Retail
$1.24M
$1.08M – $1.44M
NOI $86,692 @ 7.0% cap · market cap 5.44%
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
131k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 46%
Apparel 41%
Dining 9%
Electronics 4%
ShopRite
Groceries
60,320 visits/mo
0.5 miles
Marshalls
Apparel
48,892 visits/mo
0.5 miles
Taco Bell
Dining
8,222 visits/mo
0.5 miles
Carter's & OshKosh B'gosh
Apparel
4,489 visits/mo
0.5 miles
GameStop
Electronics
4,359 visits/mo
0.5 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant space with a full-service bar, outdoor patio, and an apartment above.
Where is this mixed-use property located?
The property is located at 3436 Lexington Avenue Mohegan Lake, NY.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Mixed‑use property with restaurant and upper‑level two‑bedroom apartment; 4,100‑square‑foot building on a 0.31‑acre site; Full‑service bar, outdoor patio, and seating for approximately 100 guests
