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17 S 5th Ave
Mount Vernon, NY 10550
Enclave on 5th · Retail Property For Sale
Investment Highlights
- Single Tenant Condominium Net Leased to Westchester Community College
- Minute to The Bronx/NYC
- 28355 SF Condominium Unit
- Sale includes adjacent parking lot at 14 S. 6th Avenue
Executive Summary
Commercial Condominium Unit Fully Occupied by Westchester Community College for the last 13 years. Unit being sold consists of 28335 SF of Commercial/Retail/Community Facility space over 2 floors. 22000 SF of space is rented to college. Westchester Community signed a 10 Year lease with two (2) Five-year options in January of 2014. They are currently in the 1st Option period that expires in January 2029 with on additional 5-year option remaining. As part of the initial lease term ownership spent $2.3MM to build out this modern educational facility. This is a Net lease with WCC paying Taxes and Insurance. Sale includes Parking Lot at 14 S. 6th Avenue, Mount Vernon, NY 10550. Parking lot is 10454 SF and contains 31 parking spots. Total of 66 Parking spaces. Unit is part of a building that contains 15 S. 5th Avenue. That property is a 40 Unit LIHTC Affordable senior living project of 33190 SF. Available as part of a separate sale or package. 15 S. 5th Avenue is strategically located in the heart of Mount Vernon, offering convenient access to the city’s downtown business district and surrounding Westchester communities. The property is situated near major commercial corridors, local shopping, restaurants, and municipal services. The location provides excellent regional connectivity with easy access to the Mount Vernon East and Mount Vernon West Metro-North stations, offering service to Manhattan and throughout Westchester County. Major roadways including the Bronx River Parkway, Hutchinson River Parkway, Cross County Parkway, and I-95 are all within a short drive. Just north of the Bronx and approximately 15 miles from Midtown Manhattan, the property benefits from a strong urban location with convenient access to New York City, lower Westchester, and the broader tri-state area.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | No. Parking Spaces | 31 |
| Cap Rate | 10.82% | APN/Parcel ID | 0800-165-070-03087-000-0044 |
| Sale Type | Investment |
| Cap Rate | 10.82% |
| No. Parking Spaces | 31 |
| APN/Parcel ID | 0800-165-070-03087-000-0044 |
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit Commercial | 28,335 SF | Retail | Upon Request | $421,988.60 |
Unit Commercial
| Unit Size |
| 28,335 SF |
| Condo Use |
| Retail |
| Price |
| Upon Request |
| NOI |
| $421,988.60 |
Unit Commercial
| Unit Size | 28,335 SF |
| Condo Use | Retail |
| Price | Upon Request |
| NOI | $421,988.60 |
| Sale Type | Investment |
| Cap Rate | 10.82% |
| No. Parking Spaces | 31 |
| APN/Parcel ID | 0800-165-070-03087-000-0044 |
| Description | |
| Commercial Condominium Unit Fully Occupied by Westchester Community College for the last 13 years. Unit being sold consists of 28335 SF of Commercial/Retail/Community Facility space over 2 floors. 22000 SF of space is rented to college. Westchester Community signed a 10 Year lease with two (2) Five-year options in January of 2014. They are currently in the 1st Option period that expires in January 2029 with on additional 5-year option remaining. As part of the initial lease term ownership spent $2.3MM to build out this modern educational facility. This is a Net lease with WCC paying Taxes and Insurance. Sale includes Parking Lot at 14 S. 6th Avenue, Mount Vernon, NY 10550. Parking lot is 10454 SF and contains 31 parking spots. Unit is part of a building that contains 15 S. 5th Avenue. That property is a 40 Unit LIHTC Affordable senior living project of 33190 SF. Available as part of a separate sale or package.</li></ul> | |
| Sale Notes | |
| Commercial Condominium Unit Fully Occupied by Westchester Community College for the last 13 years. Unit being sold consists of 28335 SF of Commercial/Retail/Community Facility space over 2 floors. 22000 SF of space is rented to college. Westchester Community signed a 10 Year lease with two (2) Five-year options in January of 2014. They are currently in the 1st Option period that expires in January 2029 with on additional 5-year option remaining. As part of the initial lease term ownership spent $2.3MM to build out this modern educational facility. This is a Net lease with WCC paying Taxes and Insurance. Sale includes Parking Lot at 14 S. 6th Avenue, Mount Vernon, NY 10550. Parking lot is 10454 SF and contains 31 parking spots. Unit is part of a building that contains 15 S. 5th Avenue. That property is a 40 Unit LIHTC Affordable senior living project of 33190 SF. Available as part of a separate sale or package.</li></ul> |
Property Facts
| Total Building Size | 73,000 SF | Typical Floor Size | 18,250 SF |
| Property Type | Multifamily (Condo) | Year Built | 1955 |
| Property Subtype | Apartment | Lot Size | 0.47 AC |
| Building Class | C | Parking Ratio | 0.9/1,000 SF |
| Floors | 4 | Opportunity Zone |
Yes
|
| Zoning | Commercial | ||
| Total Building Size | 73,000 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | C |
| Floors | 4 |
| Typical Floor Size | 18,250 SF |
| Year Built | 1955 |
| Lot Size | 0.47 AC |
| Parking Ratio | 0.9/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | Commercial |
