Renovated Auto Body
For Sale
Contact for pricing
515 Washington St, Peekskill, NY 10566
Newly renovated auto body shop with paint booth and doors.
Property Size3,400 SF
Price / SF$397.06
Days on Market182
Property Features for 515 Washington St
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Industrial, Retail, Special Purpose
Zoning
C
Investment Type
Owner/User
Building Details
Year Built
1990
Year Renovated
2016
Buildings
1
Stories
1
Units
1
Listing Agency:
McGrath Realty Inc
Listed By:
Mike Fitzgerald · License #NY 10401228039
Source:
Crexi
Added: Feb 15
Changed: Aug 8
Last Checked: Aug 8 at 6:27AM
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 McGrath Realty Inc
Investment Insights
Based on property information with market context.
This is a renovated auto body shop featuring a full paint booth and five overhead doors. The property is suitable for auto shops, automotive properties, retail spaces, and general commercial real estate purposes. The property size is 3400 square feet.
Key Highlights
- Newly renovated Auto Body Shop ready for business.
- Features a full paint booth for professional finishes.
- Equipped with 5 overhead doors for easy access.
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
$71,891
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
5.33%
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%
$1,437,820
$1.4M
Cap Rate 7%
$1,027,014
$1.0M
Cap Rate 9%
$798,789
$798.8K
Market Conditions
NOI Build-Up for 3,400 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
$118.3K $34.80/SF
− Vacancy
−$15.6K −$4.59/SF
EGI
$102.7K $30.21/SF
− OpEx
−$30.8K −$9.06/SF
NOI
$71.9K $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 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%
$1,437,820
Cap Rate 7%
$1,027,014
Cap Rate 9%
$798,789
Alternative Uses
Best Use
Retail
$1.03M
$898.6K – $1.20M
NOI $71,891 @ 7.0% cap · market cap 5.33%
Second Best
Industrial
$689.6K
$603.4K – $804.5K
NOI $48,272 @ 7.0% cap · market cap 3.58%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
440
Businesses Nearby
17k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 38%
Dollar General
Shops & Services
10,319 visits/mo
0.3 miles
Dunkin' Donuts
Dining
6,283 visits/mo
0.1 miles
Demographics for 10566, NY
25,384
Population
11,752
Households
2.2
Avg Household Size
40
Median Age
38%
College-Educated
86%
High-School Grad
4.3 sq mi
ZIP Area
5,903
Density / Sq Mi
$91,042
Median Household Income
$49,844
Median Earnings
$1,895
Median Rent
$376,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Northern Westchester Collision — 899 Washington St, Peekskill, NY 10566
- Discount Tire Depot — 419 Washington St #400, Peekskill, NY 10566
- T & T Auto Inc — 600 Washington St, Peekskill, NY 10566
- Stedeford's Mobile Auto Glass — 2 John Walsh Blvd, Peekskill, NY 10566
- Nightcrawler towing & Recovery Inc — 620 Washington St, Peekskill, NY 10566
Frequently Asked Questions
What type of property is this?
Auto shop - Newly renovated auto body shop with paint booth and doors.
Where is this auto shop located?
The property is located at 515 Washington St Peekskill, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Newly renovated Auto Body Shop ready for business.; Features a full paint booth for professional finishes.; Equipped with 5 overhead doors for easy access.
