271 3Rd StMount Vernon, NY 10553
- Commercial land
- 0.06 AC
Property Details for 271 3Rd St
- Lot size
- 0.06 AC
- Property type
- Commercial land
- APN
- 550800 165.72-4006-18
- APU
- 55080016572400618
Description
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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
Alternative Use
- Use
- Valuation
- Residential
- $494,671
- Hospitality
- $453,116
- Educational
- $376,987
- Medical
- $389,952
- Retail
- $586,425
Location Insight
- City
- Mount Vernon
- County
- Westchester
- State
- New York
- Latitude
- 40.9094
- Longitude
- -73.8252
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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