137-139 Willet Avenue

The Agency Commercial Division is pleased to present 137–139 Willett Avenue, a stabilized 10-unit mixed-use investment property strategically positioned in the heart of downtown Port Chester, New York. The three-story, approximately 7,821-square-foot building consists of eight residential apartments and two street-level commercial spaces, providing investors with a diversified combination of multifamily and retail income.

Offered at $2,115,000, the property generates approximately $262,860 in annual gross revenue and an underwritten Net Operating Income of $161,755, representing an attractive 7.65% in-place capitalization rate.

The property’s income profile has recently been strengthened through completed lease renewals. Five residential tenants renewed with increases of $100 per month, increasing residential rental income by approximately $6,000 annually. In addition, commercial tenant Steph’s executed a new five-year lease at a meaningful increase in rent. The lease carries zero landlord cost and provides 3% annual rent escalations in Years 2 through 5, creating contractual income growth for the next owner.

Beyond its current cash flow, the property benefits from an exceptional transit-oriented location within approximately a one-minute walk of the Port Chester Metro-North Station, excellent downtown walkability, and immediate proximity to restaurants, retail, entertainment and neighborhood amenities.

The combination of a 7.65% going-in yield, stabilized tenancy, contractual rent growth, diversified revenue, conservative expense underwriting and a walk-to-train Westchester location makes 137–139 Willett Avenue a compelling opportunity for private investors, 1031 exchange buyers, family offices and regional mixed-use owners.