Mixed-Use Investment
For Sale
Contact for pricing
529-533 Route 52, Carmel, NY 10512
Mixed-use property with income and value creation potential.
Property SizeContact for details
Days on Market115
Property Features for 529-533 Route 52
General Information
Standard status
Active
Property subtype
Retail, Multifamily
Building Details
Year Built
1979
Listing Agency:
Berkshire Hathaway HomeServices New York Properties
Listed By:
Ashwath Ramesh · License #10401390311
Source:
Crexi
Added: May 8
Changed: Aug 23
Last Checked: Aug 28 at 11:01AM
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 Berkshire Hathaway HomeServices New York Properties
Investment Insights
Based on property information with market context.
The property at 529-533 Route 52 is a mixed-use investment opportunity that generates approximately $380,000 in annual net operating income (NOI). There is potential to increase this to around $490,000 through adjustments to residential rents and commercial/land leases. The residential component offers near-term upside, with units trending toward market rents in the $2,900+ range. Units within the 531 and 533 buildings are separately metered, creating the potential for reconfiguration into higher-yield layouts, including increasing bedroom count or subdividing units, subject to building department approval. Current pro forma assumptions remain conservative relative to unit size and layout, as many apartments exceed typical market comparables in both square footage and overall utility. On the commercial side, the property benefits from a stable tenant base and frontage along Route 52, with additional upside through future lease roll and rent adjustments. There is third-party interest in leasing a portion of the land, indicating the potential for additional income. The physical layout and positioning of the buildings suggest the possibility of expansion or reconfiguration, whether through vertical additions or strategic use of existing space, subject to appropriate approvals. The asset offers a combination of current cash flow, near-term rent growth, and longer-term flexibility.
Key Highlights
- Strong in‑place income of approximately $380K annual NOI with potential to reach $490K through rent adjustments.
- Residential units trending toward market rents in the ~$2,900+ range, offering near‑term upside.
- Units in both buildings are separately metered, allowing for potential reconfiguration.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 10512, NY
24,664
Population
9,874
Households
2.5
Avg Household Size
46
Median Age
42%
College-Educated
93%
High-School Grad
52.2 sq mi
ZIP Area
472
Density / Sq Mi
$124,519
Median Household Income
$62,393
Median Earnings
$1,607
Median Rent
$401,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with income and value creation potential.
Where is this mixed-use property located?
The property is located at 529-533 Route 52 Carmel, NY.
What is the asking price?
The asking price for this property is $6,350,000.
What are key features of this property?
This property features: Strong in‑place income of approximately $380K annual NOI with potential to reach $490K through rent adjustments.; Residential units trending toward market rents in the ~$2,900+ range, offering near‑term upside.; Units in both buildings are separately metered, allowing for potential reconfiguration.
