Mount Kisco Redevelopment
215 Lexington Ave Mount Kisco, NY 10549
215 Lexington Ave, Mount Kisco, NY, 10549
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For Sale
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Mixed-use property with redevelopment potential in Mount Kisco, New York.
Property Size3,220 SF
Price / SF$652.17
Days on Market1224
Property Features for 215 Lexington Ave
General Information
- Standard status
- Active
- Size
- 3,220 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1920
Listing Agency
Academic Co-Realty Services
(203) 458-0550
Listed by
Gregory Walwer · License #REB.0790169
Source
Crexi
Added: Mar 16, 2023 Updated: Jul 6 at 8:09 am Checked: Jul 19 at 8:52 am
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 Academic Co-Realty Services
Investment Insights
Based on property information with market context.
This property at 215 Lexington Avenue in Mount Kisco, New York, presents a prime redevelopment opportunity. The existing structure includes 4 residential units and 2 commercial spaces. The property has three townhomes fully approved for the site, with available site plans, elevations, floor plans, and landscaping plans. All utilities are on site, and parking for the new development is finished. The location is approximately one-quarter mile from Main Street, a bus line, and restaurants, one-half mile to Northern Westchester Hospital, and just over one-half mile to the Mount Kisco Metro North railroad station. The Saw Mill River Parkway interchange and Mount Kisco Country Club are about one mile away. The property's size is 3220 square feet. Major employers in the area include CareMount and Curtis Instruments.
Key Highlights
- Fully approved plans for three townhomes offer immediate value‑add redevelopment opportunity.
- Existing structure generates approximately $111,740 net operating income with 4 residential units and 2 commercial spaces.
- Prime location: close to Main Street, bus line, restaurants, and Northern Westchester Hospital.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $112.1k | $34.80 |
| − Vacancy | −$14.8k | −$4.59 |
| EGI | $97.3k | $30.21 |
| − OpEx | −$29.2k | −$9.06 |
| NOI | $68.1k | $21.14 |
3,220 SF · lease $34.80/SF/yr · vacancy 13.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$972.6K
$851.1K – $1.13M
NOI $68,085 @ 7.0% cap · market cap 3.24%
Second Best
Apartment 5plus
$789.0K
$690.4K – $920.5K
NOI $55,229 @ 7.0% cap · market cap 2.63%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Mixed-use properties
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with redevelopment potential in Mount Kisco, New York.
Where is this mixed-use property located?
The property is located at 215 Lexington Ave Mount Kisco, NY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Fully approved plans for three townhomes offer immediate value‑add redevelopment opportunity.; Existing structure generates approximately $111,740 net operating income with 4 residential units and 2 commercial spaces.; Prime location: close to Main Street, bus line, restaurants, and Northern Westchester Hospital.
