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    271 3Rd St Mount Vernon, NY 10553

    For Sale
    $3,650,000

    8,000 SF Flex Space, High Cap Rate

    Property size:
    8,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional mixed-use investment opportunity in Mount Vernon, New York, presents a compelling chance to acquire a thriving commercial property. Located at 271-277 E. 3rd St, this 8,000 square foot building sits on a substantial 16,000 square foot lot, zoned Commercial Business (CB). The property boasts a flexible layout suitable for various uses, including flex space, storefront retail, and warehouse operations. Currently operating as a single-tenant, net-net-plus lease, this income-producing asset offers a strong 6.00% cap rate at an asking price of $3,650,000. The property's strategic location provides excellent frontage and access, benefiting from proximity to Interstates 87 and 95. Ample parking is available on-site. The property comprises three separate tax lots, presenting potential for future development or expansion. Annual property taxes are approximately $41,000. This is a rare opportunity to acquire a well-positioned, income-generating property with significant upside potential in a desirable location. The combination of existing income and development potential makes this an attractive investment for both seasoned and emerging investors. The property's versatility and prime location make it an ideal choice for a variety of commercial uses.

    Property Features for 271 3Rd St

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,000 SF

    HighLights

    • 8,000 SF building on a 16,000 SF lot.
    • Commercial Business (CB) zoning.
    • Approximately $41,000 annual property taxes.
    • Income‑producing property with on‑site parking.
    • Three separate tax lots, offering development potential.
    • Excellent frontage and access near Interstates 87 and 95.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Vernon
    County
    Westchester
    State
    New York
    Longitude
    -73.8252955
    Latitude
    40.9090829

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    FAQs

    What type of property is this?
    Individual retail property - 8,000 SF Flex Space, High Cap Rate
    Where is this individual retail property located?
    The property is located at 271 3Rd St Mount Vernon, NY.
    What is the asking price?
    The asking price for this property is $3,650,000.
    What are key features of this property?
    This property features: 8,000 SF building on a 16,000 SF lot.; Commercial Business (CB) zoning.; Approximately $41,000 annual property taxes.
    Request Owner's contact information
    271 3Rd St Mount Vernon, NY 10553
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    Mount Vernon, NY 10553
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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
    271 3Rd St Mount Vernon, NY 10553
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