Lee & Associates is pleased to present 149-153 South 4th Avenue, Mount Vernon, NY 10550 to the market. The featured property consists of 10,518 square feet of retail space, with multiple value-add opportunities available. Zoned DB (Downtown Business), the site offers flexible development pathways to achieve the highest and best use. Located within an Economic Opportunity Zone, the property also qualifies for special tax incentives when improved. Mount Vernon is undergoing significant revitalization, including new shopping centers, housing developments, and green spaces. The Department of Planning and Community Development is leading efforts to enhance the city’s physical, social, and economic landscape. Its Envision Mount Vernon initiative outlines a 10-year plan focused on inclusive growth and strengthening community identity. This property offers the flexibility to add value through ground-up development or by upgrading the existing structure to attract new tenants. Zoning Overview: U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT An Opportunity Zone is generally an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualified as Opportunity Zones if they were nominated for that designation by the State or Territory and that nomination was certified by the U.S. Secretary of the Treasury via his delegation of that authority to the Internal Revenue Service. There are 8,764 Opportunity Zones in the United States, many of which have experienced a lack of investment for decades. The Opportunity Zone tax incentive will spur capital investment and economic development in low-income communities. First, investors can defer the taxation of certain prior gains invested in a Qualified Opportunity Fund (QOF) until the earlier of the date on which the investment in the QOF is sold or exchanged, or December 31, 2026. Second, if the QOF investment is held for at least 5 years, 10% of the gain that was originally deferred is eliminated completely. If the QOF investment is held for at least 7 years, an additional 5% (15% total) of the original deferred gain is eliminated completely. Third, if the investor holds the QOF investment at least ten years, when the investor sells or exchanges the investment, the investor is eligible to eliminate the gain on the QOF investment from any increase in value of the QOF investment during the investor’s holding period.