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    418 Mamaroneck Ave, Unit 24 Mamaroneck, NY 10543-2613
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    Property profile & analytics

    418 Mamaroneck Ave, Unit 24, Mamaroneck, NY 10543-2613

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    • Investment properties
    • 6,327 SF
    • 0.22 lot acres
    Off-Market
    Last Sale Jan 25, 2024
    Property ID
    US63-2590988
    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.
    Value Estimations
    $1,215,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 418 Mamaroneck Ave

    Year built
    1920
    Lot size
    0.22 lot acres
    Zone code
    C2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    553203 9-7-49
    APU
    5532039749

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 25, 2024 $1,900,001 418 424 Mamaroneck LLC Marvil Building Corp Referee's Deed - Used To Transfer Property Pursuant To A Foreclosure Sale In New York Counties · related —
    Jun 22, 2018 — Marvil Building Corp — Deed · related $225k · Mariners Bk
    — — Marvil Building Corp — Deed Of Trust · related $125k · Andrew Kahn
    — — Marvil Building Corp — Deed Of Trust · related $260k · Sound Federal
    — — Marvil Building Corp — Deed Of Trust · related $129k · Brian Buritzky
    — — Marvil Building Corp — Deed Of Trust · related $90k · Sound Federal S & L Assn
    — — Marvil Building Corp — Deed Of Trust · related $225k · Mariners Bk

    Description

    This exceptional investment opportunity presents a 20-unit apartment building (Class B) in prime downtown Mamaroneck, NY. Located just one block from the Mamaroneck Train Station, the property boasts a substantial 9,920 square foot lot with frontage on both Mamaroneck Avenue and Mt. Pleasant Avenue. The existing three-story frame building, built circa 1920, offers approximately 6,325 square feet, including 2,663 square feet of retail space (currently vacant), 18 single-room occupancy units, and one one-bedroom apartment. Current rents are below market value, presenting significant upside potential. The C-2 General Commercial zoning allows for a wide range of uses, including retail, residential, and mixed-use development. A feasibility study indicates the potential to develop a second building on the rear portion of the lot bordering Mt. Pleasant Avenue, and potentially add a fourth story to the existing structure. The property offers a stabilized net operating income (NOI) of $238,605, resulting in a compelling 10.85% cap rate. This is a value-add opportunity with significant potential for increased revenue through rent increases and additional development. The property's location and zoning provide exceptional flexibility for future development and expansion. All information should be verified with the appropriate architectural and building department professionals.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,530,000
      6.5%
      $1,410,000
      7%
      $1,310,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mamaroneck
    County
    Westchester
    State
    New York
    Longitude
    -73.7366
    Latitude
    40.9519
    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
    $710,000
    $790,000
    $1,500,000
    -
    $710,000
    $790,000
    $1,500,000

    Comparable in this City

    • Value Estimation
      $1,010,000
      6,188 SF

      729 Old White Plns Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      729 Old White Plns Rd, Mamaroneck, NY 10543-1823
      View Details
    • Value Estimation
      $785,000
      4,760 SF

      114 Boston Post Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      114 Boston Post Rd, Mamaroneck, NY 10543-3604
      View Details
    • Value Estimation
      $1,025,000
      5,700 SF

      218 Boston Post Rd, Unit 30

      OFFICE/RESIDENTIAL (MIXED USE)
      218 Boston Post Rd, Mamaroneck, NY 10543-3552
      View Details
    • Value Estimation
      $855,000
      4,680 SF

      138 Boston Post Rd, Unit 40

      OFFICE/RESIDENTIAL (MIXED USE)
      138 Boston Post Rd, Mamaroneck, NY 10543-3606
      View Details
    • Value Estimation by Request
      3,044 SF

      115 Halstead Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      115 Halstead Ave, Mamaroneck, NY 10543
      View Details
    • Value Estimation
      $800,000
      5,100 SF

      217 Halstead Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      217 Halstead Ave, Mamaroneck, NY 10543-2621
      View Details

    Similar Nearby for Sale

    • $1,198,800

      Mamaroneck Mixed-Use Development Opportunity

      Investment property near Metro North with redevelopment potential.
      423 Halstead Ave, Mamaroneck, NY 10543
      View Details
    • $1,198,800

      Mamaroneck Investment & Development Opportunity

      Prime C-1 zoned property near Metro North in Mamaroneck.
      423 Halstead Ave, Mamaroneck, NY 10543
      View Details
    • Contact for pricing
      Pending

      Mamaroneck Avenue Mixed-Use Property

      Versatile mixed-use property in the heart of Mamaroneck Village.
      1050 Mamaroneck Ave, Mamaroneck, NY 10543
      View Details
    • $4,000,000

      Mixed-Use Development Opportunity Near Station

      0.6-acre assemblage for mixed-use development near Mamaroneck train station.
      313-333 Halstead Ave, Mamaroneck, NY 10543
      View Details
    • $4,000,000

      Mamaroneck Mixed-Use Development Opportunity

      0.6 acre assemblage near train station, ideal for development.
      313-333 Halstead Ave, Mamaroneck, NY 10543
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo

      Prime Retail Space in Mamaroneck

      429 sq ft retail space in a vibrant location.
      324 Mount Pleasant Ave, Mamaroneck, NY 10543
      View Details
    • $27 SF/Yr

      Retail Space Near Train Station

      Commercial space for rent, located near Mamaroneck train station.
      311 Halstead Ave, Mamaroneck, NY 10543
      View Details
    • $3,600 /Mo

      Retail Space in Mamaroneck, NY

      Prime retail space on East Boston Post Road for lease.
      621 E Boston Post Rd, Mamaroneck, NY 10543
      View Details
    • Contact for pricing
      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
    • $35 SF/Yr
      3,485 SF

      Versatile Commercial Space on Mamaroneck

      2,975 SF commercial space suitable for various business types.
      343 Mamaroneck Ave, Mamaroneck, NY 10543
      View Details
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    Mamaroneck, NY 10543-2613
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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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