Automotive Shop with Paint
For Sale
$1,450,000
515 Washington Street Peekskill, Ny, NY 10566
Configured for vehicle service with overhead access, lifts, customer waiting space, and on-site parking.
Property Size3,600 SF
Price / SF$402.78
Days on Market53
Property Features for 515 Washington Street Peekskill
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
15
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$31,218
Amenities
overhead doors
paint booth
vehicle lifts
high ceilings
customer waiting room
half bathrooms
No
Public
3600
Building Details
Building Size
3,600 SF
Listing Agency:
(718) 684-8000
Listed By:
Sabrina Sookdeo
(718) 684-8000
Source:
Parkassets
Added: Jul 9
Changed: Aug 29
Last Checked: Aug 29 at 10:59PM
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 Sabrina Sookdeo
Investment Insights
Based on property information with market context.
This 3,600-square-foot automotive shop includes five overhead doors, multiple vehicle lifts, and a professional paint booth. The facility offers more than 15-foot ceilings, a customer waiting room, two half bathrooms, and a 15-car parking area. Equipment supporting automotive service operations is included.
Positioned at 515 Washington Street in Peekskill, the property sits within an established commercial area and provides access for customers throughout the Hudson Valley region. Its layout accommodates vehicle movement, service work, and customer-facing functions in one facility.
Positioned at 515 Washington Street in Peekskill, the property sits within an established commercial area and provides access for customers throughout the Hudson Valley region. Its layout accommodates vehicle movement, service work, and customer-facing functions in one facility.
Key Highlights
- 3,600 square feet of automotive service workspace
- 5 overhead doors support vehicle access and workflow
- Professional paint booth and multiple vehicle lifts included
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
$52,296
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
3.61%
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%
$1,045,920
$1.0M
Cap Rate 7%
$747,086
$747.1K
Cap Rate 9%
$581,067
$581.1K
Market Conditions
NOI Build-Up for 3,600 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
$79.1K $21.96/SF
− Vacancy
−$4.3K −$1.21/SF
EGI
$74.7K $20.75/SF
− OpEx
−$22.4K −$6.23/SF
NOI
$52.3K $14.53/SF
Area
New York, NY
Vacancy
5.50%
Lease Rate
$21.96 /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%
$1,045,920
Cap Rate 7%
$747,086
Cap Rate 9%
$581,067
Alternative Uses
Best Use
Retail
$7.24M
$6.33M – $8.44M
NOI $506,608 @ 7.0% cap · market cap 34.94%
Second Best
Industrial
$747.1K
$653.7K – $871.6K
NOI $52,296 @ 7.0% cap · market cap 3.61%
Theoretical Best
Specialty Retail
$8.96M
$7.84M – $10.45M
NOI $627,264 @ 7.0% cap · market cap 43.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
17,958
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bmcc — 199 Chambers St, New York, NY 10007
- Ny Wrecker — 138 Duane St, New York, NY 10013
- Bliss Auto & Towing Service — 110 Reade St, New York, NY 10013
- Car battery jump service nyc LLC — 335 Greenwich St, New York, NY 10013
- Owell Towing and Recovery — 85 Leonard St, New York, NY 10013
Frequently Asked Questions
What type of property is this?
Auto shop - Configured for vehicle service with overhead access, lifts, customer waiting space, and on-site parking.
Where is this auto shop located?
The property is located at 515 Washington Street Peekskill Ny, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 3,600 square feet of automotive service workspace; 5 overhead doors support vehicle access and workflow; Professional paint booth and multiple vehicle lifts included
