Mixed-Use Building in Mount
For Sale
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6 E Sidney Ave, Mount Vernon, NY
24 apartments and 6 retail units in vibrant location.
Property Size33,436 SF
Lot Size0.18 Acres
Price / SF$201.88
Days on Market733
Property Features for 6 E Sidney Ave
General Information
Standard status
Active
Size
33,436 SF
Lot size
0.18 Acres
Property subtype
MULTIFAMILY
Listing Agency:
Kassin Sabbagh Realty (KSR)
(917) 523-1274
Listed By:
Samia Farah · License #4OM01167813
Source:
Moodyscre
Added: Aug 9, 2024
Changed: Aug 9
Last Checked: Aug 9 at 9:00PM
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 Kassin Sabbagh Realty (KSR)
Investment Insights
Based on property information with market context.
Located on the corner of Gramatan Avenue and E Sidney Avenue in Mt. Vernon, this mixed-use building encompasses 27,000 square feet. The property includes 24 apartments and 6 retail units. Eighteen of the apartments have been recently renovated. The retail tenants contribute towards real estate taxes, building insurance, and water expenses. The property is near multiple bus lines and is easily accessible to the Metro-North train station at Mount Vernon East and the Bronx River Parkway. The location benefits from a vibrant retail environment, with grocery stores, restaurants, and banks nearby, and mass transit (2, 5, MTA) within 2 - 6 minutes away.
Key Highlights
- 27,000 sq ft mixed‑use building with 24 apartments and 6 retail units.
- 18 recently renovated apartments.
- Retail tenants contribute to real estate taxes, building insurance, and water expenses.
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
$573,486
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
8.50%
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%
$11,469,720
$11.5M
Cap Rate 7%
$8,192,657
$8.2M
Cap Rate 9%
$6,372,067
$6.4M
Market Conditions
NOI Build-Up for 33,436 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
$1.10M $33.00/SF
− Vacancy
−$60.7K −$1.82/SF
EGI
$1.04M $31.19/SF
− OpEx
−$469.2K −$14.03/SF
NOI
$573.5K $17.15/SF
Area
Westchester County, NY
Vacancy
5.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
45.00%
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%
$11,469,720
Cap Rate 7%
$8,192,657
Cap Rate 9%
$6,372,067
Alternative Uses
Best Use
Retail
$10.10M
$8.84M – $11.78M
NOI $706,987 @ 7.0% cap · market cap 10.47%
Second Best
Apartment 5plus
$8.19M
$7.17M – $9.56M
NOI $573,486 @ 7.0% cap · market cap 8.50%
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
2,859
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 24 apartments and 6 retail units in vibrant location.
Where is this mixed-use property located?
The property is located at 6 E Sidney Ave Mount Vernon, NY.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: 27,000 sq ft mixed‑use building with 24 apartments and 6 retail units.; 18 recently renovated apartments.; Retail tenants contribute to real estate taxes, building insurance, and water expenses.
