Mixed Use Property - Residential and Retail 114 Ferris Ave 3 Lot Offre d’immeuble d’habitation à 810 503 € à un taux de capitalisation de 6,76 % White Plains, NY 10603

C.J. Pagano & Sons, Inc. is pleased to exclusively offer 114-116 Ferris Avenue, a mixed-use investment property in White Plains, NY, priced at $925,000. The building consists of two fully renovated 2-bedroom residential units and a ±440 SF retail storefront on a 6,098 SF lot.
The second-floor unit is leased at $2,800/month through 2/28/2027, with the landlord covering heat for the entire property. The first-floor unit is fully renovated and delivered vacant, offering immediate upside for an owner-user or new lease-up at market rent. The ground-floor retail space is leased on a 5-year term through 2/28/2031 at $1,800/month gross, with the tenant paying electric and contractual 5% annual rent escalations.
Positioned just 0.4 miles from the White Plains Metro-North Station (under 35 minutes to NYC) with immediate access to I-287, the Bronx River Parkway, and the Hutchinson River Parkway, the property offers strong connectivity for both residential tenants and retail customers. On-site parking is available in the rear/driveway, with additional street parking for retail patrons.
At full occupancy, the property generates a pro forma NOI of approximately $62,500, reflecting a 6.8% cap rate at the asking price.
Highlights
Mixed-use asset: 2 residential units + retail storefront
$925,000 asking price | 6.8% pro forma cap rate
Vacant unit offers immediate value-add / owner-user potential
Retail lease through 2031 with 5% annual escalations
0.4 miles to White Plains Metro-North (35 min to NYC)
Immediate access to I-287, Bronx River Pkwy, Hutchinson River Pkwy
On-site parking + street parking for retail customers
Landlord pays heat; tenants pay gas/electric