20 S West st - Transit-Oriented Development Opportunity 0.5 Acres of Commercial Land Offered at $5,570,053 CAD in Mount Vernon, NY 10550
INVESTMENT HIGHLIGHTS
- Direct access to the Mount Vernon West Metro North Train Station with under 30 minute ride into Grand Central Station during rush hour
- Eligible for New York State Brownfield Cleanup Program
- May be eligible for a New Market Tax Credit through the Empire State New Market Corporation, a subsidiary of the Empire State Development Corporation
- Can build residential tower up to 15 stories as of right and up to 20 stories with a density bonus
- Easy access to multiple highways with high car count
- Site can also be developed for mixed-use, general commercial, retail and civic buildings
EXECUTIVE SUMMARY
Half-acre prime transit-oriented development opportunity with direct platform access to the Mount Vernon West Metro North train station along the Harlem Line with under 30 minute rush hour ride to Grand Central Station. Located in the Mount Vernon West "TOD HUB" district which is designed to accommodate the highest intensity and diversity of development in Mount Vernon. The zoning permits up to a 15-story residential tower over retail as of right which can be increased to 20 stories with a density bonus, in addition to mixed use, commercial and retail projects. Phase I and Phase II environmental reports indicate the existence of brownfields. The site is currently improved with a mixed-use building with a gross area of 21,748 +/- square feet and a net rentable area of 11,274 square feet which can be operated as an income-producing property on its own, or while you go through the approval process. The major tenant is 7-11. Seller will vacate all tenants. Also a build-to-suit opportunity for medical, retail and office uses.
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Price | $5,570,053 CAD |
| Price Per AC | $11,140,106.30 CAD |
| Lot Size | 0.50 AC |
Half acre (21,746 sf) lot improved with a 21,748 +/- sf masonry and brick mixed-use building consisting of retail and office uses. Site has direct platform access to the Mount Vernon West Metro North Train Station.
DESCRIPTION
21,780 sf (.5 acre) site improved with a 2-story 21,748 +/-sf mixed-use building with direct platform access to the Mount Vernon West Metro North station along the Harlem Line.
Walk Score®
Very Walkable (79)
Transit Score®
Excellent Transit (71)
PROPERTY TAXES
| Parcel Number | 0800-164-067-01057-000-0016 | Improvements Assessment | $20,930 CAD |
| Land Assessment | $27,906 CAD | Total Assessment | $48,836 CAD |
ZONING
| Zoning Code | C/MVW-Hub (Commercial and Mount Vernon West "Hub District" - as of right residential tower as well as medical, retail and commercial uses) |
