Renovated Condo in Downtown
For Sale
$349,000
10 Nosband Avenue #1L, White Plains, NY 10605
Updated commercial space ideal for various professional services.
Property Size1,211 SF
Price / SF$288.19
Days on Market150
Property Features for 10 Nosband Avenue #1L
General Information
Standard status
Active
Size
1,211 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,200
Amenities
Central air
Baseboard Heating
Central Air Cooling
Building Details
Year Built
1930
Listing Agency:
HOULIHAN LAWRENCE INC.
(914) 962-4900
Listed By:
KENNETH LEFKOWITZ · License #31ME0873322
(914) 420-5550
Source:
Corcoran
Added: Apr 6
Changed: Sep 2
Last Checked: Sep 1 at 8:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HOULIHAN LAWRENCE INC.
Investment Insights
Based on property information with market context.
This renovated first-floor business condominium is located in downtown White Plains. Unit 1L at 10 Nosband Avenue offers 1,211 square feet of updated, move-in-ready commercial space within Bristol House, a meticulously maintained 1930s prewar cooperative. The unit features ground-level access and excellent visibility, making it suitable for medical, wellness, legal, financial, insurance, real estate, or consulting uses. Bristol House is a six-story, 72-unit prewar co-op featuring a grand lobby with chandeliers, exposed wood beams, and marble floors, along with elevator service, on-site laundry, storage, a bike room, and a live-in superintendent. Two dogs are permitted. The property is located one block from Mamaroneck Avenue’s dining, retail, and nightlife corridor, offering walkability to shops, restaurants, banks, and professional services. Metro North is a short distance away, providing approximately 35-minute express service to Grand Central. There is easy access to I-287, the Hutch, and the Cross Westchester. Municipal 24-hour parking is available steps away at Shapham Place and Mamaroneck Avenue lots. An on-site garage waitlist is available. This property presents an opportunity for an owner-occupant or investor in Westchester’s premier business center.
Key Highlights
- Renovated, move‑in ready 1,211 SF commercial space.
- Excellent visibility and ground level access** ideal for various professional uses.
- Prime location: one block from Mamaroneck Avenue's dining, retail, and nightlife.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,544
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$370,880
$370.9K
Cap Rate 7%
$264,914
$264.9K
Cap Rate 9%
$206,044
$206.0K
Market Conditions
NOI Build-Up for 1,211 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.3K $27.48/SF
− Vacancy
−$8.6K −$7.06/SF
EGI
$24.7K $20.42/SF
− OpEx
−$6.2K −$5.10/SF
NOI
$18.5K $15.31/SF
Area
Westchester County, NY
Vacancy
25.70%
Lease Rate
$27.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$370,880
Cap Rate 7%
$264,914
Cap Rate 9%
$206,044
Alternative Uses
Best Use
Office B
$264.9K
$231.8K – $309.1K
NOI $18,544 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$365.8K
$320.1K – $426.8K
NOI $25,606 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,853
Businesses Nearby
Explore this area
Business Placement
Demographics for 10605, NY
19,438
Population
8,537
Households
2.3
Avg Household Size
45
Median Age
66%
College-Educated
93%
High-School Grad
5.4 sq mi
ZIP Area
3,600
Density / Sq Mi
$145,587
Median Household Income
$86,040
Median Earnings
$2,195
Median Rent
$761,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Updated commercial space ideal for various professional services.
Where is this office units located?
The property is located at 10 Nosband Avenue #1L White Plains, NY.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Renovated, move‑in ready 1,211 SF commercial space.; Excellent visibility and ground level access** ideal for various professional uses.; Prime location: one block from Mamaroneck Avenue's dining, retail, and nightlife.
