All-Brick Mixed-Use
For Sale
$3,349,000
510 Piermont Avenue, Piermont, NY 10968
Residential apartments and ground-floor storefronts create a diversified mixed-use configuration in the Village of Piermont.
Property Size5,947 SF
Days on Market41
Property Features for 510 Piermont Avenue
General Information
Standard status
Active
Size
5,947 SF
Property subtype
Commercial
Zoning
BB
Taxes and HOA fees
Annual Taxes
$51,764
Building Details
Building Size
5,947 SF
Stories
3
Listing Agency:
Roundhouse Properties LLC
(845) 848-2300
Listed By:
Wilson Vasquez · License #10491201574
(917) 743-7997
Source:
Mahlerrealty
Added: Aug 10
Changed: Sep 18
Last Checked: Sep 18 at 3:10PM
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 Roundhouse Properties LLC
Investment Insights
Based on property information with market context.
This all-brick mixed-use building combines eight residential apartments with three ground-floor commercial storefronts. The residential component includes four one-bedroom apartments and four studio apartments, creating a varied unit mix within the property. Zoning is BB.
Located at 510 Piermont Avenue in Piermont, the building is positioned near the village waterfront, Hudson River, and Piermont Pier. Restaurants, cafes, art galleries, shops, and recreational amenities are located in the surrounding village setting. Tallman Mountain State Park is also nearby, offering access to hiking, biking, and outdoor recreation. The property brings residential and commercial space together in a single village asset with both apartment and storefront components.
Located at 510 Piermont Avenue in Piermont, the building is positioned near the village waterfront, Hudson River, and Piermont Pier. Restaurants, cafes, art galleries, shops, and recreational amenities are located in the surrounding village setting. Tallman Mountain State Park is also nearby, offering access to hiking, biking, and outdoor recreation. The property brings residential and commercial space together in a single village asset with both apartment and storefront components.
Key Highlights
- Eight residential apartments: four one‑bedroom units and four studios
- Three ground‑floor commercial storefronts
- All‑brick building construction
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
$97,460
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
2.91%
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%
$1,949,200
$1.9M
Cap Rate 7%
$1,392,286
$1.4M
Cap Rate 9%
$1,082,889
$1.1M
Market Conditions
NOI Build-Up for 5,947 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
$189.1K $31.80/SF
− Vacancy
−$11.9K −$2.00/SF
EGI
$177.2K $29.80/SF
− OpEx
−$79.7K −$13.41/SF
NOI
$97.5K $16.39/SF
Area
Rockland County, NY
Vacancy
6.30%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,949,200
Cap Rate 7%
$1,392,286
Cap Rate 9%
$1,082,889
Alternative Uses
Best Use
Apartment 5plus
$1.39M
$1.22M – $1.62M
NOI $97,460 @ 7.0% cap · market cap 2.91%
Second Best
Retail
$1.20M
$1.05M – $1.40M
NOI $83,749 @ 7.0% cap · market cap 2.50%
Theoretical Best
Specialty Retail
$3.93M
$3.44M – $4.59M
NOI $275,242 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
Explore this area
Business Placement
Demographics for 10968, NY
2,435
Population
1,345
Households
1.8
Avg Household Size
50
Median Age
66%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
4,058
Density / Sq Mi
$132,105
Median Household Income
$82,386
Median Earnings
$2,019
Median Rent
$615,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential apartments and ground-floor storefronts create a diversified mixed-use configuration in the Village of Piermont.
Where is this mixed-use property located?
The property is located at 510 Piermont Avenue Piermont, NY.
What is the asking price?
The asking price for this property is $3,349,000.
What are key features of this property?
This property features: Eight residential apartments: four one‑bedroom units and four studios; Three ground‑floor commercial storefronts; All‑brick building construction
