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17 S 5th Ave
Mount Vernon, NY 10550 South Side

$3,900,000 USD

Apartments Condo For Sale  •  28,335 SF

Property Details

  • Property Type Apartments
  • Total Building Size 73,000 SF
  • Lot Size 0.47 AC
  • Building Class C
  • Year Built 1955
  • Cap Rate 10.82 %
  • Zoning Commercial
90 Transit Score
100 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit Commercial Retail 28,335 SF $3,900,000 USD
  • Unit Size: 28,335 SF
  • Condo Use: Retail
  • Price: $3,900,000 USD
  • Sale Type: Investment
  • Price/SF: $137.64 USD
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.

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.

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. 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.

Highlights

Single Tenant Condominium Net Leased to Westchester Community College
28355 SF Condominium Unit
Minute to The Bronx/NYC
Sale includes adjacent parking lot at 14 S. 6th Avenue

Property Flyers

Cap Rate: 10.82 %

Major Tenants

Tenant SF Occupied Lease End Date
Enclave Equities - Enclave on 5th
Westchester Community College

Amenities

  • Air Conditioning
  • Kitchen
  • Refrigerator
  • Oven
  • Tub/Shower

Public Transportation

Commuter RailDriveWalkDistance
Mount Vernon East Station (New Haven Line - Metro-North Commuter Railroad Company (Metro-North)) 1 min 15 min 0.4 mi
Mount Vernon West Station (Harlem Line - Metro-North Commuter Railroad Company (Metro-North)) 9 min 16 min 0.8 mi
Transit/SubwayDriveWalkDistance
Mount Vernon East Station (New Haven Line - Metro-North Commuter Railroad Company (Metro-North)) 1 min 9 min 0.5 mi
Mount Vernon West Station (Harlem Line - Metro-North Commuter Railroad Company (Metro-North)) 7 min 16 min 0.8 mi
Wakefield-241 Street (2 - New York MTA Subway (The Subway)) 2 min 19 min 1.0 mi
AirportDriveWalkDistance
LaGuardia 26 min - 14.5 mi
Westchester County 27 min - 17.2 mi
John F Kennedy International 35 min - 22.1 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 66
Type: Surface
Included in Rent: Yes
Raymond Mordekhai 516-410-9926 Forest Park Properties Inc
Raymond Mordekhai 516-410-9926 Forest Park Properties Inc