816-822 Mamaroneck Avenue

Description

Calling All Investors, Developers & End-Users!!! Protected Development Site On A HUGE 17,500 Sqft. Lot Just Blocks From Metro North For Sale!!! The Property Features Excellent Signage, Great Exposure, 9 Parking Spaces In A Private Lot, .8 FAR, High Ceilings, Strong C-1 Zoning With TOD Overlap, Full Basement, 2 Lots, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Mamaroneck Less Than 3 Blocks From The Mamaroneck Metro North Station!!! As Per The Seller You Can Build 21 Apartments!!! Neighbors Include BMW, Toyota, UPS, Verizon, Webster Bank, Stop & Shop, Optimum, Dunkin', Walgreens, Petco, UFC Gym, Orangetheory Fitness, Mavis Discount Tire, Trader Joe's, Smashburger, Duck Donuts, Chipotle, +++!!! The Sellers Have A Clean Environmental Report From 2021!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Apt 818A: $28,800 Ann. Lease Exp.: 1/31/25. Apt. 818B: $17,400 Ann. Lease Exp.: 1/31/25. Can Be Delivered Vacant If Need Be. Apt. 1L: $22,800 Ann.; Lease Exp.: 6/30/24. Apt. 1 R: $19,500 Ann.; Lease Exp: 11/1/24. Apt. 2: $30,000 Ann.; Lease Exp.: 11/1/24. Apt. 3: $18,000 Ann.; Lease Exp.: 10/31/24. LL (Commercial): $12,000 Ann.; Lease Exp.: 11/1/24. Acco Cigars: $28,200 Ann.; Lease Exp.: 5/31/28. Jimmy's Pizza: $39,600 Ann.; Lease Exp.: 10/31/28. Gross Income: $216,300 Ann. Expenses: Utilities: $3,500 Ann. Maintenance & Repairs: $2,500 Ann. Insurance: $16,500 Ann. Flood Insurance: $15,000 Ann. Water/Sewer: $1,800 Ann. Management: $9,000 Ann. Supplies: $1,500 Ann. Taxes: $38,821 Ann. Total Expenses: $88,621 Ann. Net Operating Income (NOI): $127,679 Ann.