Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Mamaroneck Mixed-Use Development Opportunity Title is generated by Realmo AI

    423 - C1 Halstead Avenue, Mamaroneck, NY 10543

    View on Map
    Claim this Listing
    For Sale
    $1,175,000

    MULTI_FAMILY - Mamaroneck, NY

    Lot size:
    0.15 Acres
    Added:
    Apr 16, 2026
    Days on Market:
    30
    Last Refresh:
    May 15 at 6:06 am

    Property Features for 423 - C1 Halstead Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking
    1
    Parking features
    Garage, Driveway
    Appliances
    Dryer, Electric Range, Electric Water Heater, Refrigerator, Washer
    Standard status
    Active
    APN
    4803-154-000-00042-001-0037-0000000
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    17788

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Energy Star Qualified Equipment (Heating), Heat Pump (Heating)
    Water source
    Public

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Wood
    Building materials
    Frame

    We can help!

    Listing Contact
    Mary Stetson

    Listing agent Mary Stetson

    Listing office Stetson Real Estate 565 Alda Rd, Mamaroneck, NY

    Listing date Apr 16, 2026

    MLS# 981305

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location: One block from Metro North with direct access to NYC
    • High development potential: C‑1 zoning allows approximately 5,698 buildable square feet
    • Immediate income generation: Currently a legal two‑family property with strong rental appeal
    • Updated interiors: Recently updated 3‑bedroom units with separate entrances, gas, electric meters, and heating systems
    • Desirable location: Walking distance to Harbor Island Park & Beach, and Mamaroneck Avenue's restaurants, shops, and entertainment
    • Oversized 2‑car garage: Plus additional storage

    Overview

    This property presents an investment and development opportunity in Mamaroneck, situated one block from Metro North, providing direct access to NYC. Zoned C-1, the property offers potential for investors, end-users, and developers. The 6,475 square foot lot has a Floor Area Ratio of 0.88, allowing for approximately 5,698 buildable square feet, with additional potential under transit-oriented development incentives. It is suited for mixed-use redevelopment or expansion. Currently configured as a legal two-family property, it features two 3-bedroom units with separate entrances, updated interiors, separate gas, electric meters, and heating systems for each unit, and an oversized 2-car garage plus additional storage. The property is located within walking distance to Mamaroneck Metro North, Harbor Island Park & Beach, and Mamaroneck Avenue, which offers restaurants, shops, and entertainment. It is located in a transit-oriented community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mamaroneck
    County
    Westchester
    State
    New York
    Longitude
    -73.73314
    Latitude
    40.9552162

    Nearby Similar for Sale

    • $875,000

      Mamaroneck Duplex on Corner Lot

      Two-family duplex in Mamaroneck near waterfront and NYC transit.
      903 Howard Avenue, Mamaroneck, NY 10543
      View Details
    • $180,000
      1,300 SF

      Equipped Deli Space in Mamaroneck

      Fully equipped deli in Mamaroneck, ready for new concept.
      626 N Barry Avenue, Mamaroneck, NY 10543
      View Details
    • $2,450,000

      Mamaroneck Harbor View Retail Property

      Two-building retail property with harbor views and development potential.
      510-516 W Boston Post Road, Mamaroneck, NY 10543
      View Details
    • $2,595,000

      Mamaroneck Multifamily Investment Opportunity

      Five-unit property in Rye Neck School District with income potential.
      638-640 Halstead Ave, Mamaroneck, NY 10543
      View Details
    • $1,050,000
      4,600 SF

      Mamaroneck Flex/Industrial Property For Sale

      Flex/Industrial property featuring 4,600 SF of versatile space.
      603 Fayette Avenue, Mamaroneck, NY 10543
      View Details
    • $700,000
      600 SF

      Mamaroneck Avenue Retail/Office Opportunity

      Retail or office space with high foot traffic and storage.
      135 Mamaroneck Ave, Mamaroneck, NY
      View Details
    • $700,000

      Mamaroneck Avenue Commercial Space

      Commercial space suitable for business, professional, or retail use.
      135 Mamaroneck Avenue, Mamaroneck, NY 10543
      View Details
    • Contact for pricing
      8,000 SF

      Freestanding Industrial Property For Rent

      Pristine industrial space with freezers, refrigeration, and updated features.
      432-436 Waverly Ave, Mamaroneck, NY
      View Details
    • $695,000
      3,485 SF

      Mamaroneck Industrial Zone Property

      Industrial zone property suitable for workshop, garage, storage, or parking.
      406 Center Ave, Mamaroneck, NY
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Investment property near Metro North with development potential.
    Where is this mixed-use property located?
    The property is located at 423 - C1 Halstead Avenue Mamaroneck, NY.
    What is the asking price?
    The asking price for this property is $1,175,000.
    What are key features of this property?
    This property features: Prime location: One block from Metro North with direct access to NYC; High development potential: C‑1 zoning allows approximately 5,698 buildable square feet; Immediate income generation: Currently a legal two‑family property with strong rental appeal
    (914) 381-7173
    We can help!
    Listing Contact
    Mary Stetson
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    423 - C1 Halstead Avenue, Mamaroneck, NY 10543
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!