Turnkey Automotive Facility in
For Sale
$1,450,000
515 Washington Street, Peekskill, NY 10566
Fully operational automotive service facility with equipment included in thriving area.
Property Size3,600 SF
Price / SF$402.78
Days on Market200
Property Features for 515 Washington Street
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$31,218
Building Details
Building Size
3,600 SF
Listing Agency:
McGrath Realty Inc
(845) 896-5444
Listed By:
Ryan P. McGrath · License #10401313731
(845) 896-5444
Source:
Cohenandcohenrealty
Added: Feb 5
Changed: Aug 23
Last Checked: Aug 23 at 10:44AM
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 3,600 square foot turnkey automotive facility situated on Washington Street in Peekskill. The property benefits from excellent visibility and accessibility in a well-established commercial area with strong foot traffic and easy access for customers throughout the Hudson Valley region. It features a complete professional setup, making this an immediate income-generating opportunity. The facility includes five overhead doors for maximum workflow efficiency, a professional paint booth for complete auto services, and multiple vehicle lifts. The building has 15+ foot ceilings suitable for large vehicles and equipment. There is a customer waiting room and two half bathrooms. The property also includes a 15-car parking area. This automotive service facility is suitable for an experienced operator looking to expand or an investor seeking an established business model. The location has a walk score of 81, indicating it is very walkable, a bike score of 36, indicating it is somewhat bikeable, and a transit score of 45, indicating some transit options are available.
Key Highlights
- Turnkey automotive facility: Immediate income‑generating opportunity.
- Prime location on Washington Street in Peekskill: Excellent visibility and accessibility.
- Fully equipped: Includes professional paint booth and multiple vehicle lifts.
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
$76,120
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
5.25%
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%
$1,522,400
$1.5M
Cap Rate 7%
$1,087,429
$1.1M
Cap Rate 9%
$845,778
$845.8K
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
$125.3K $34.80/SF
− Vacancy
−$16.5K −$4.59/SF
EGI
$108.7K $30.21/SF
− OpEx
−$32.6K −$9.06/SF
NOI
$76.1K $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%
$1,522,400
Cap Rate 7%
$1,087,429
Cap Rate 9%
$845,778
Alternative Uses
Best Use
Retail
$1.09M
$951.5K – $1.27M
NOI $76,120 @ 7.0% cap · market cap 5.25%
Second Best
Industrial
$730.2K
$638.9K – $851.9K
NOI $51,112 @ 7.0% cap · market cap 3.52%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 - Fully operational automotive service facility with equipment included in thriving area.
Where is this auto shop located?
The property is located at 515 Washington Street Peekskill, 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: Turnkey automotive facility: Immediate income‑generating opportunity.; Prime location on Washington Street in Peekskill: Excellent visibility and accessibility.; Fully equipped: Includes professional paint booth and multiple vehicle lifts.
