Five-Unit Mixed-Use
For Sale
$1,375,222
911 South Street, Peekskill, NY 10566
Fully leased property combines food service, office, and loft spaces with separate utility metering.
Property Size6,650 SF
Days on Market67
Property Features for 911 South Street
General Information
Standard status
Active
Size
6,650 SF
Property subtype
Commercial
Zoning
C2
Occupancy
100%
Additional Details
Cap Rate
7.9%
Utilities to Site
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$20,894
Building Details
Building Size
6,650 SF
Year Built
1900
Stories
2
Units
5
Tenancy
Multi
Owner Occupied
No
Listing Agency:
Mark Seiden Real Estate Team
(914) 762-2200
Listed By:
Mark J. Seiden
(914) 762-2200
Source:
Mahlerrealty
Added: Jun 24
Changed: Aug 28
Last Checked: Aug 29 at 10:17AM
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 Mark Seiden Real Estate Team
Investment Insights
Based on property information with market context.
This 6,650-square-foot mixed-use property comprises five independently operated units, each supported by its own utility meter. The current configuration includes an established restaurant with seating for 74, an ice cream parlor with a separate lounge, a professional office, and two artist lofts. Central air and open parking are among the property features, and the building dates to 1900.
Located at 911 South Street in downtown Peekskill’s Artist District, the property is near local businesses, dining, arts, cultural attractions, and the Paramount Theater. The site is described as benefiting from pedestrian and vehicle traffic. All five units are fully leased, with a reported 7.9% cap rate excluding management fees and minor repairs.
Located at 911 South Street in downtown Peekskill’s Artist District, the property is near local businesses, dining, arts, cultural attractions, and the Paramount Theater. The site is described as benefiting from pedestrian and vehicle traffic. All five units are fully leased, with a reported 7.9% cap rate excluding management fees and minor repairs.
Key Highlights
- 6,650 SF mixed‑use property at 911 SOUTH ST, Peekskill, NY 10566
- Five fully leased units, each with a separate utility meter
- Restaurant accommodates 74 people and is paired with an ice cream parlor and lounge
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
$114,314
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
8.31%
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%
$2,286,280
$2.3M
Cap Rate 7%
$1,633,057
$1.6M
Cap Rate 9%
$1,270,156
$1.3M
Market Conditions
NOI Build-Up for 6,650 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
$159.6K $24.00/SF
− Vacancy
−$7.2K −$1.08/SF
EGI
$152.4K $22.92/SF
− OpEx
−$38.1K −$5.73/SF
NOI
$114.3K $17.19/SF
Area
Westchester County, NY
Vacancy
4.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,286,280
Cap Rate 7%
$1,633,057
Cap Rate 9%
$1,270,156
Alternative Uses
Best Use
Specialty Retail
$1.63M
$1.43M – $1.91M
NOI $114,314 @ 7.0% cap · market cap 8.31%
Second Best
Mixed Use
$1.38M
$1.20M – $1.61M
NOI $96,383 @ 7.0% cap · market cap 7.01%
Theoretical Best
Retail
$2.01M
$1.76M – $2.34M
NOI $140,611 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,384
Businesses Nearby
52k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 43%
Shops & Services 38%
Dining 19%
C-Town Supermarkets
Groceries
22,362 visits/mo
0.2 miles
Optimum
Shops & Services
7,742 visits/mo
0.2 miles
Dunkin' Donuts
Dining
5,314 visits/mo
0.3 miles
Sinclair
Shops & Services
4,801 visits/mo
0.5 miles
SUBWAY
Dining
4,565 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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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased property combines food service, office, and loft spaces with separate utility metering.
Where is this mixed-use property located?
The property is located at 911 South Street Peekskill, NY.
What is the asking price?
The asking price for this property is $1,375,222.
What are key features of this property?
This property features: 6,650 SF mixed‑use property at 911 SOUTH ST, Peekskill, NY 10566; Five fully leased units, each with a separate utility meter; Restaurant accommodates 74 people and is paired with an ice cream parlor and lounge
