Five-Storefront Retail
44-60 Gramatan Avenue, Mount Vernon, NY 10550
For Sale
Contact for pricing
A fully leased retail property with scheduled annual rent increases across every lease.
Property Size9,600 SF
Lot Size0.23 Acres
Price / SF$364.58
Days on Market24
Property Features for 44-60 Gramatan Avenue
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Financials
Asking Price
Cap Rate
Site & Location
Neighborhood
Additional Details
Tenant in Place
Building Details
Buildings
Stories
Tenancy
Listing Agency:
SERHANT
Listed By:
Giuseppe Inglese · License NY #10301224216
Source:
Crexi
Added: Oct 22
Changed: Nov 12
Last Checked: Nov 12 at 5:56AM
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 SERHANT
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 9,600-square-foot, one-story retail building contains five storefronts and is fully leased. Each lease provides for annual rent increases of 3%, supporting a consistent rent-escalation structure across the property.
Situated on 0.23 acres at 44-60 Gramatan Avenue in downtown Mount Vernon, New York, the property has approximately 100 feet of frontage.
Situated on 0.23 acres at 44-60 Gramatan Avenue in downtown Mount Vernon, New York, the property has approximately 100 feet of frontage.
Key Highlights
- 9,600 SF, one‑story retail building
- Five storefronts
- 100% leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$202,987
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,059,740
$4.1M
Cap Rate 7%
$2,899,814
$2.9M
Cap Rate 9%
$2,255,411
$2.3M
Market Conditions
NOI Build-Up for 9,600 SF
Gross rent
$334.1K $34.80/SF
− Vacancy
−$44.1K −$4.59/SF
EGI
$290.0K $30.21/SF
− OpEx
−$87.0K −$9.06/SF
NOI
$203.0K $21.14/SF
Area
Westchester County, NY
Vacancy
13.20%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,059,740
Cap Rate 7%
$2,899,814
Cap Rate 9%
$2,255,411
Alternative Uses
Best Use
Retail
$2.90M
$2.54M – $3.38M
NOI $202,987 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.35M
$5.55M – $7.41M
NOI $444,312 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,859
Businesses Nearby
118k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 42%
Shops & Services 28%
Dining 15%
Apparel 8%
Food Bazaar Supermarket
Groceries
49,467 visits/mo
0.4 miles
Family Dollar
Shops & Services
9,515 visits/mo
0.3 miles
Popeyes Louisiana Kitchen
Dining
7,852 visits/mo
0.2 miles
BP
Shops & Services
7,221 visits/mo
0.4 miles
Papa John's Pizza
Dining
6,061 visits/mo
0.2 miles
Demographics for 10550, NY
41,137
Population
16,865
Households
2.4
Avg Household Size
38
Median Age
23%
College-Educated
82%
High-School Grad
2.0 sq mi
ZIP Area
20,569
Density / Sq Mi
$56,903
Median Household Income
$43,733
Median Earnings
$1,451
Median Rent
$482,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Strip mall - A fully leased retail property with scheduled annual rent increases across every lease.
Where is this strip mall located?
The property is located at 44-60 Gramatan Avenue Mount Vernon, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 9,600 SF, one‑story retail building; Five storefronts; 100% leased
