Property
| Ownership: | For Sale |
|---|---|
| Type: | mixed-use |
| Lot Size: | 0.1 Acres |
Financials
Listing Courtesy of Spadaro Real Estate, Ltd.
DOWNTOWN MAMARONECK MIXED USE INVESTMENT OPPORTUNITY !
Description
DOWNTOWN MAMARONECK MIXED-USE INVESTMENT OPPORTUNITY! An attractive opportunity for investors seeking an income-producing property with significant residential rental upside in Westchester County's desirable Sound Shore market. This three-story mixed-use building combines approximately 2,000 SF of retail space occupied by a long-standing tenant for over 20 years with FIVE income-producing residential apartments. The residential units, currently rented below projected market rates, present an opportunity to enhance rental income as tenancies transition to month-to-month status during 2027. The residential component consists of four two-room studios and one one-bedroom apartment. The apartments feature updated kitchens and bathrooms, while the common hallway has been freshly painted with new carpeting. The building has benefited from numerous recent improvements and updates, enhancing its overall appeal and investment potential. Front-facing apartments on the second and third floors enjoy views of Long Island Sound. Municipal records indicate approximately 4,875 SF of gross floor area, plus additional basement space. Ideally situated along the West Boston Post Road commercial corridor, just one block from Mamaroneck Avenue Business District and directly across from Harbor Island Park. An appealing combination of established income, residential rental upside and a prime downtown location. Pro Forma NOI: $112,270 | Pro Forma Cap Rate: 6.60% | Current NOI: $82,770
Amenities
- Back Yard
- Electricity Connected
- Fire Escape
- Mailbox
- Natural Gas Connected
- Oven
- Refrigerator
- Security Lights
- Sewer Connected
- Shades/Blinds
- Smoke Detectors
- Sound
- Storage
- Trash Collection Public
- Walk Up
- Water
- Water Connected
- Waterfront Property

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.