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    Property profile & analytics

    406 Center Ave Mamaroneck, NY 10543

    • Investment properties
    • 564 SF
    • 0.08 lot acres
    For Sale
    View listing
    $695,000
    Value Estimations
    Cap Rate Potential
    2.7%
    Investment properties
    Location Intelligence
    Property ID
    US63-2109628
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Hole In the Wall / Deli

    Property Details for 406 Center Ave

    Year built
    1950
    Lot size
    0.08 lot acres
    Property size
    564 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    553203 8-25-355
    APU
    553203825355

    Description

    This 1,320-square-foot warehouse at 406 Center Ave, Mamaroneck, NY 10543, offers a unique investment opportunity. Located in a bustling downtown area within an M-1 zoned lot, this property presents versatile usage potential. The building itself comprises approximately 816 square feet of net rentable space, featuring dimensions of roughly 14' x 18' plus an additional 12' x 26' irregular section, and includes a basement. The lot, measuring approximately 3,485 square feet (66.84' x 56.10'), provides ample space, including outdoor parking for up to 20 vehicles. The property's strategic location in downtown Mamaroneck ensures high visibility and accessibility, benefiting from the presence of thousands of workers nearby throughout the week. The asking price is $695,000, with a 2024/2025 assessed value of $275,000 and corresponding real estate taxes of $6,272. Section/block/lot is 8/25/355. This property is perfect for a variety of uses, from a workshop or storage facility to an outdoor parking area. Don't miss this chance to acquire a prime piece of commercial real estate in a thriving Westchester County location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $260,000
      Market price range: $150k - $261k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $210,000
      Current use
      AUTO REPAIR, GARAGE
      $280,000
      Change: +35% Conversion: Difficult
      WAREHOUSE, STORAGE
      $205,000
      Change: -2% Conversion: Difficult
      OFFICE BUILDING
      $200,000
      Change: -5% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mamaroneck
    County
    Westchester
    State
    New York
    Longitude
    -73.7432
    Latitude
    40.9506
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $0.00
    $160,000
    $115,000
    $275,000
    -
    $160,000
    $115,000
    $275,000

    Comparable in this City

    • Value Estimation
      $395,000
      4,299 SF

      158 Boston Post Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 4,299 SF
      158 Boston Post Rd, Mamaroneck, NY 10543-3605
      View Details
    • Value Estimation
      $355,000
      6,240 SF

      180 Boston Post Rd, Unit 190

      OFFICE/RESIDENTIAL (MIXED USE) • 6,240 SF
      180 Boston Post Rd, Mamaroneck, NY 10543-3776
      View Details
    • Value Estimation
      $345,000
      5,203 SF

      1160 Greacen Pt Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 5,203 SF
      1160 Greacen Pt Rd, Mamaroneck, NY 10543-4611
      View Details
    • Value Estimation
      $290,000
      1,560 SF

      530 Halstead Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,560 SF
      530 Halstead Ave, Mamaroneck, NY 10543-2714
      View Details
    • Value Estimation
      $500,000
      10,300 SF

      715 Mamaroneck Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 10,300 SF
      715 Mamaroneck Ave, Mamaroneck, NY 10543-1928
      View Details
    • Value Estimation
      $325,000
      3,343 SF

      343 Mamaroneck Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,343 SF
      343 Mamaroneck Ave, Mamaroneck, NY 10543-2609
      View Details

    Similar Nearby for Sale

    • $695,000
      1,320 SF

      Mamaroneck Warehouse - $695K

      Downtown Mamaroneck warehouse, ideal for workshop or storage.
      406 Center Ave, Mamaroneck, NY 10543
      View Details
    • $1,750,000
      7,460 SF

      Mamaroneck Ave Multifamily Investment

      6-Unit Apartment Building, High NOI
      658 Mamaroneck Ave, Mamaroneck, NY 10543
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    • $1,900,000
      6,085 SF

      Mamaroneck Retail Investment Opportunity

      High-yield retail building, development potential.
      360 Mount Pleasant Ave, Mamaroneck, NY 10543
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    • $1,825,000

      Mamaroneck Warehouse: Prime Location

      10,125 SF Warehouse, M-1 Zoning
      331 Waverly Ave, Mamaroneck, NY 10543
      View Details
    • $369,000

      Two Bedroom Apartment with Patio

      Two-bedroom apartment with private entrance and patio near amenities.
      1015 Old Post Rd, Mamaroneck, NY 10543
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    • $260,000

      Bright Two-Bedroom End Unit

      Top-level apartment near trains and parks.
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    Similar Nearby for Lease

    • $30 SF/Yr
      1,345 SF

      Mamaroneck Office Space Available

      Professional office space with on-site management and great natural light.
      141 Halstead Ave, Mamaroneck, NY 10543
      View Details
    • $1,500 /Mo
      1,500 SF

      Versatile Space in Mamaroneck, NY

      Adaptable space suitable for retail, office, studio, or trades.
      820 Mamaroneck Ave, Mamaroneck, NY 10543
      View Details
    • $34 SF/Yr
      900 SF

      Retail Space on Boston Post

      Retail space available for lease on Boston Post Road.
      803-809 W Boston Post Rd, Mamaroneck, NY 10543
      View Details
    • Contact for pricing
      2,995 SF

      Retail Space in Mamaroneck

      Retail space with on-site parking near established businesses.
      1030 W Boston Post Rd, Mamaroneck, NY 10543
      View Details
    • $3,450 /Mo

      Modern Office Space with Patio

      Modern office space with natural light, kitchen, and patio.
      555 E Boston Post Rd, Mamaroneck, NY 10543
      View Details
    • $21 SF/Yr
      13,400 SF

      Waverly Ave Industrial Property

      Mamaroneck, NY Flex Space Available
      524 Waverly Ave, Mamaroneck, NY 10543
      View Details
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    406 Center Ave
    Mamaroneck, NY 10543
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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