Kent Lakes Commons

Investment Overview

529–533 Route 52 presents a mixed-use investment opportunity located in the center of Carmel, NY consisting of 11 residential apartments and 12 commercial suites across three contiguous buildings. The property offers stable in-place cash flow with significant upside through residential rent growth, lease rollover, and operational improvements. Current ownership has maintained strong occupancy while several residential units remain below market, providing investors with a clear path to increasing NOI over time. The asset currently generates approximately $559,138 in gross annual income with an in-place NOI of approximately $403,500. Updated pro forma projections support NOI approaching $470,000+, with additional upside potential from a future land/cell lease opportunity. Commercial tenancy includes a diversified mix of office, retail, daycare, and neighborhood service businesses, helping minimize tenant concentration risk and support long-term stability. Positioned directly along Route 52, the property benefits from strong visibility, consistent traffic counts, and proximity to surrounding residential neighborhoods and retail corridors within Putnam County. Ownership is motivated and seller financing may be available for qualified buyers.

Investment Highlights

• 32,437 SF building
• 23 units
• Built in 1979, renovated in 2024
• Zoned Mixed-Use
• Prime location in Carmel
• 100% occupancy
• Modern and versatile
• Steady income potential
• Potential for value creation
• High-traffic area
• Proximity to amenities
• Flexible leasing options