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215 N Division St 1 Retail Properties in Peekskill, NY
Executive Summary
Delivered entirely vacant in the high-barrier Northern Westchester market, this 1950-vintage portfolio comprises two adjacent structures totaling 13,608 square feet with eight residential apartments and three retail suites. This allows for immediate renovation to stabilize the asset, while a rare on-site garage provides a distinct competitive advantage.
Finished Product. Post-renovation, the property is projected to generate a stabilized Net Operating Income (NOI) of $220,898. Commercial gross potential rent contributes $99,000, while residential units yield $240,000 annually. Total effective gross income is estimated at $328,050, including $6,000 in ancillary garage income. As a free-market asset, ownership can capture the full loss-to-lease spread immediately, maximizing returns in this supply-constrained submarket.
This strategic acquisition in a growing Peekskill neighborhood benefits from tight inventory and robust transit connectivity. The project combines the upside of a vacant delivery with mixed-use stability in a high-demand commuter hub.
Finished Product. Post-renovation, the property is projected to generate a stabilized Net Operating Income (NOI) of $220,898. Commercial gross potential rent contributes $99,000, while residential units yield $240,000 annually. Total effective gross income is estimated at $328,050, including $6,000 in ancillary garage income. As a free-market asset, ownership can capture the full loss-to-lease spread immediately, maximizing returns in this supply-constrained submarket.
This strategic acquisition in a growing Peekskill neighborhood benefits from tight inventory and robust transit connectivity. The project combines the upside of a vacant delivery with mixed-use stability in a high-demand commuter hub.
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 10,608 SF |
| Number of Properties | 2 | Total Land Area | 0.34 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 10,608 SF |
| Total Land Area | 0.34 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 215 N Division St, Peekskill, NY 10566 | Retail | 10,608 SF | - | - |
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215 N Division St
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