MLS#917981
STATUSPending
PROPERTY TYPECommercial -
SCHOOLLakeland
Property Description
17-unit lakefront multifamily situated on 4.36 acres with substantial excess land.R-3 Multifamily zoning supports expansion of 30 additional units (buyer to verify)Strong in-place cash flow with $216,064 NOI supports acquisition financing.As-is value estimated at $2.7M-$3.0M based on current income.Development upside: 30 new units at $1,500/month generate $378,000 incremental NOI.Stabilized NOI of $594,000 supports $7.9M-$8.5M total value at market caps.Flexible execution: hold for cash flow, phased development, or full build-out.Rare combination of income + lakefront development opportunity in Westchester County
Property Features
Property Type: Commercial -
Basement: Full
Basement: Yes
Cooling: Wall/Window Unit(s)
Heating: Oil
Lot Size: 4.36 Acres
Taxes: $44,355
Year Built: 1904
Feature Descriptions
Building Area Total: 9552
Days on Site: 202
Exterior: Vinyl Siding
On Market Date: 2025-09-29
Parcel Number: 5400-015-016-00001-000-0024
Parking Features: Unassigned
Rental Term: Monthly
Sewer: Public Sewer
Units: 17
Utilities: Cable Connected, Electricity Connected, Propane, Sewer Connected, Trash Collection Public
Water: Public
Waterfront Features: Lake Front, Lake Privileges
Local Schools
High School: Lakeland High School
Middle School: Lakeland-Copper Beech Middle Sch
Elementary School: George Washington Elementary School
School District: Lakeland
Listed By / Shown By
Listing By
Agency Name: Houlihan Lawrence Inc.
Agency Contact: 914-962-4900
Shown By
Agent Name: Richie Krug Jr.
Agent Phone: (516) 673-8775
Agency Title: Coldwell Banker American Homes
Member Participants (and their affiliated licensees, if applicable) shall indicate on their websites that IDX information is provided exclusively for consumers’ personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.
Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Privacy Policy / DMCA Notice / ADA Accessibility
This site is hosted, designed and copyright
© 1994 - 2026 by
Delta Media Group, Inc. -- Patent Pending --
1860 E Main Street | MLS# 917981
This commercial property located at 1860 E Main Street, Mohegan Lake, NY 10547 is currently listed for sale with an asking price of $4,250,000. E Main Street is located within the Lakeland school district. Search Mohegan Lake real estate on www.richiekrugjr.com today.