Building Details

Building Size 5,947 SF

Buildings 1

Stories 3

Construction all-brick

Tenancy Multi

Listing Agency: Roundhouse Properties LLC w***@aol.com Show Phone

Listed By: Wilson Vasquez · License #10491201574 Show Phone

Source: Croninreale

Added: Aug 10 Changed: Oct 23 Last Checked: Oct 23 at 4:12PM

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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 Roundhouse Properties LLC

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Investment Insights

Based on property information with market context.

At 510 Piermont Avenue, this 5,947-square-foot, all-brick mixed-use property combines eight apartments with three ground-floor commercial storefronts. The residential mix includes four one-bedroom units and four studios. The building is zoned BB.

The property is in Piermont, near the waterfront and the village’s restaurants, cafes, galleries, and shops. Tallman Mountain State Park, the Hudson River, and Piermont Pier are also nearby.

Key Highlights

• 5,947‑square‑foot all‑brick mixed‑use property
• Eight apartments: four one‑bedroom units and four studios
• Three ground‑floor commercial storefronts

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$97,460

Cap Rate

2.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,949,200 $1.9M

Cap Rate 7%

$1,392,286 $1.4M

Cap Rate 9%

$1,082,889 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,947 SF

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 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 (±1% cap)

NOI $97,460 @ 7.0% cap · market cap 2.91%

Second Best

Retail

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $83,749 @ 7.0% cap · market cap 2.50%

Theoretical Best

Specialty Retail

$3.93M

$3.44M – $4.59M (±1% cap)

NOI $275,242 @ 7.0% cap · market cap 8.22%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Corcoran Baer & McIntosh Real Estate Agency Simple Smart Home Appliance Store La Reine Boutique (Bike/Boat/Book/etc) Store Elisa Design Clothing Store Sillage Of Piermont Cosmetic Store

Suggested Use

Top Pick Dental Office Parking Lot & Garage Plumbing Service HVAC Service Hair Salon Nail Salon

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

8

Residential units

Multi-tenant

Tenancy

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

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 - Eight apartments and three street-level commercial spaces bring residential and storefront uses together.

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: 5,947‑square‑foot all‑brick mixed‑use property; Eight apartments: four one‑bedroom units and four studios; Three ground‑floor commercial storefronts