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    The Largest CRE Database in the US with Over 1 Million Listings

    1 Martine Ave White Plains, NY 10606

    Sponsored
    For Lease
    $25 SF/Yr ($5,437 /Mo)

    Retail - White Plains, NY

    Type:Retail
    Property size:
    2,610 SF
    Days on Market:
    90
    Last Refresh:
    Jan 24 at 4:06 pm

    Property Features for 1 Martine Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Standard status
    Active
    Zoning
    CB4
    APN
    1700-125-074-00005-000-0003-0-4001
    Exterior features
    Level
    Size
    2,610 SF

    Utilities

    Heating system
    Electric (Heating), Forced Air
    Cooling system
    Central Air

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Raymond E. Inello

    Houlihan & O'Malley Real Estate Services, Inc. (914) 337-7888

    Listing agent Raymond E. Inello (914) 337-7888 License #10401288630

    Listing date Oct 27, 2025

    MLS# 816114 Listing URL

    Copyright © 2025 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Prime Retail Space, White Plains

    This retail space offers 2,610 square feet of open area. It is situated within a complex of three buildings that includes a 1,000-car parking garage, office and residential tenants, and a planned addition of 17,000 square feet of new retail space. The location benefits from a high volume of foot traffic and is near the White Plains Metro North Train Station, the US District Court House, and the Westchester County Court House. Over 2,000 market rent apartments are within a 5-minute walk, and the space is surrounded by Class A office buildings. The landlord is responsible for bathroom maintenance and snow removal. Base rent is $35 per square foot, plus $6.75 per square foot for CAM, with the tenant responsible for electricity costs. The property is zoned CB4.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Happily Insurance NY Insurance Agency 1 Martine Gallery Art Gallery 1 Martine at City ... Apartment Building

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    White Plains
    County
    Westchester
    State
    New York
    Longitude
    -73.773445
    Latitude
    41.0307786

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    FAQs

    What type of property is this?
    Retail space - 2,610 SF retail space near transit and office buildings.
    Where is this retail space located?
    The property is located at 1 Martine Ave White Plains, NY.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: - High foot traffic location between White Plains Metro North Train Station and courthouses.; - Over 2,000 market rent apartments within a 5-minute walk.; - Surrounded by Class A office buildings.
    (914) 522-8989
    Request Owner's contact information
    1 Martine Ave White Plains, NY 10606
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    White Plains, NY 10606
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1 Martine Ave White Plains, NY 10606
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    We can help!
    Listing Contact
    Raymond E. Inello
    (914) 522-8989
    Learn more
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