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Kent Lakes Commons 529-533 Route 52 32,437 SF 100% Leased Retail Building Carmel, NY 10512 $8,821,420 CAD ($271.96 CAD/SF) 7.07% Cap Rate
Executive Summary
529–533 Route 52 is a 23-unit mixed-use property located in Carmel, NY consisting of 11 apartments and 12 commercial units across three buildings.
The property produces approximately $559K in gross annual income with an in-place NOI of approximately $403K. Ownership has maintained strong occupancy while keeping several residential units below market, creating a clear value-add opportunity for investors.
Pro forma NOI is projected at approximately $470K+ through residential rent increases and lease turnover. Additional upside may exist through a future land/cell lease opportunity.
The property is located directly on Route 52 with strong visibility and a diversified tenant mix of residential, retail, office, and service users.
Seller financing may be available for qualified buyers.
The property produces approximately $559K in gross annual income with an in-place NOI of approximately $403K. Ownership has maintained strong occupancy while keeping several residential units below market, creating a clear value-add opportunity for investors.
Pro forma NOI is projected at approximately $470K+ through residential rent increases and lease turnover. Additional upside may exist through a future land/cell lease opportunity.
The property is located directly on Route 52 with strong visibility and a diversified tenant mix of residential, retail, office, and service users.
Seller financing may be available for qualified buyers.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
32,437 SF
Building Class
C
Year Built/Renovated
1979/2024
Price
$8,821,420 CAD
Price Per SF
$271.96 CAD
Cap Rate
7.07%
NOI
$623,577 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.18
Lot Size
4.12 AC
Zoning
C - Commercial
Parking
60 Spaces (1.85 Spaces per 1,000 SF Leased)
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
20/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 372200-033-048-0001-006-000-0000 | Improvements Assessment | $4,213,360 CAD |
| Land Assessment | $204,752 CAD | Total Assessment | $4,418,112 CAD |
Property Taxes
Parcel Number
372200-033-048-0001-006-000-0000
Land Assessment
$204,752 CAD
Improvements Assessment
$4,213,360 CAD
Total Assessment
$4,418,112 CAD
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Kent Lakes Commons | 529-533 Route 52
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