510 Boston Post RdMamaroneck, NY 10543

This exceptional investment opportunity presents a two-building shopping center totaling 8,342 square feet of net rentable space, situated on the highly trafficked Boston Post Road in Mamaroneck, New York. The property, built in 1930 and featuring two stories, comprises five rentable units, currently 80% occupied with four tenants. The existing lease is a gross lease with a remaining term of two years. The current Net Operating Income (NOI) is $122,399, with a projected pro-forma NOI of $220,800 upon full occupancy. The asking price is $2,600,000, representing a current cap rate of 4.71% and a pro-forma cap rate of 8.49%. The property boasts excellent visibility and roadside exposure, benefiting from its location across from Mamaroneck Harbor and Park. One anchor unit is currently vacant, presenting a significant opportunity to increase rental income. The total approximate annual property taxes for both buildings are $54,394. Zoning is C-1, allowing for a variety of commercial uses. The property includes two buildings: 510 W Boston Post Rd (1,630 sq ft) and 516 W Boston Post Rd (6,712 sq ft). The sale includes both buildings. The current gross income reflects the vacancy; fully rented, the gross rent could exceed $305,000 annually. This property offers a strong current return with significant upside potential, making it an attractive investment in a desirable Westchester County location. The property also presents potential for future residential development given the high demand for luxury residential spaces in the area and stunning harbor views.