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    215 Lexington Ave Mount Kisco, NY 10549

    For Sale
    $2,100,000

    Mount Kisco, NY: Value-add opportunity.

    Property size:
    3,220 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional mixed-use property at 215 Lexington Avenue in Mount Kisco, NY, presents a compelling value-add investment opportunity. The 3,220 square foot building, constructed in 1920, sits on a 0.25-acre lot and features a desirable CN zoning designation. Currently configured as a six-unit property with four residential units and two retail spaces, it generates a net operating income (NOI) of $120,000, representing a 5.71% cap rate at an asking price of $2,100,000 ($652.17/sq ft). The property boasts approved plans for three townhomes, including site plans, elevations, floor plans, and landscaping, significantly enhancing its potential. All utilities are on-site, and parking for the new development is complete. Its prime location offers convenient access to Main Street, public transportation, restaurants, Northern Westchester Hospital, and the Mount Kisco Metro North railroad station. Proximity to the Saw Mill River Parkway interchange and Mount Kisco Country Club further enhances its appeal. Major area employers include CareMount and Curtis Instruments. This property is a rare blend of immediate income and significant upside potential, making it an ideal investment for discerning buyers. The two-story building is situated in Westchester County, NY, zip code 10549.

    Property Features for 215 Lexington Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    3,220 SF
    Lot Size
    10,890 SF

    Building Details

    Year Built
    1920
    Buildings
    1
    Stories
    2
    Units
    6
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mount Kisco
    County
    Westchester
    State
    New York
    Longitude
    -73.731575195384
    Latitude
    41.201003913436

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    FAQs

    What type of property is this?
    Mixed-use property - Mount Kisco, NY: Value-add opportunity.
    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.
    Request Owner's contact information
    215 Lexington Ave Mount Kisco, NY 10549
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    Mount Kisco, NY 10549
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    215 Lexington Ave Mount Kisco, NY 10549
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