Renovated First-Floor Office
For Sale
$349,000
10 Nosband Avenue 1l, White Plains, NY 10605
Updated ground-level commercial space in a maintained cooperative building with convenient access to downtown services and transportation.
Property Size1,211 SF
Price / SF$288.19
Days on Market17
Property Features for 10 Nosband Avenue 1l
General Information
Standard status
Active
Size
1,211 SF
Elevators
Yes
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Floor
1
Office Units
1
Amenities
grand lobby with chandeliers, exposed wood beams, and marble floors
on site laundry
storage
bike room
live in superintendent
Building Details
Year Built
1930
Buildings
1
Stories
6
Tenancy
Single
Listing Agency:
Houlihan Lawrence Inc.
(914) 962-4900
Listed By:
Kenneth Lefkowitz · License #31ME0873322
Source:
Realtyconnectusa
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 29 at 3:40PM
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.
Unit 1L contains 1,211 SF of renovated commercial space on the first floor of Bristol House, a 1930 cooperative building. The unit has ground-level access and is positioned for medical and wellness, legal, financial, insurance, real estate, or consulting uses. The six-story cooperative includes 72 units, elevator service, a formal lobby, on-site laundry, storage, a bike room, and a live-in superintendent.
The property is one block from Mamaroneck Avenue’s dining, retail, and nightlife corridor, with shops, restaurants, banks, and professional services within walking distance. Metro-North is nearby, with approximately 35-minute express service to Grand Central. Road access includes I-287, the Hutch, and the Cross Westchester. Municipal 24-hour parking is available at nearby Shapham Place and Mamaroneck Avenue lots, and an on-site garage waitlist is available.
The property is one block from Mamaroneck Avenue’s dining, retail, and nightlife corridor, with shops, restaurants, banks, and professional services within walking distance. Metro-North is nearby, with approximately 35-minute express service to Grand Central. Road access includes I-287, the Hutch, and the Cross Westchester. Municipal 24-hour parking is available at nearby Shapham Place and Mamaroneck Avenue lots, and an on-site garage waitlist is available.
Key Highlights
- 1,211 SF renovated commercial unit on the first floor
- Ground‑level access with visibility from the building
- Located one block from Mamaroneck Avenue’s dining, retail, and nightlife corridor
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
$19,727
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
5.65%
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%
$394,540
$394.5K
Cap Rate 7%
$281,814
$281.8K
Cap Rate 9%
$219,189
$219.2K
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
$36.3K $30.00/SF
− Vacancy
−$3.5K −$2.85/SF
EGI
$32.9K $27.15/SF
− OpEx
−$13.2K −$10.86/SF
NOI
$19.7K $16.29/SF
Area
Westchester County, NY
Vacancy
9.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$394,540
Cap Rate 7%
$281,814
Cap Rate 9%
$219,189
Alternative Uses
Best Use
Healthcare Medical
$281.8K
$246.6K – $328.8K
NOI $19,727 @ 7.0% cap · market cap 5.65%
Second Best
Office B
$264.9K
$231.8K – $309.1K
NOI $18,544 @ 7.0% cap · market cap 5.31%
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
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
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
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Frequently Asked Questions
What type of property is this?
Office units - Updated ground-level commercial space in a maintained cooperative building with convenient access to downtown services and transportation.
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: 1,211 SF renovated commercial unit on the first floor; Ground‑level access with visibility from the building; Located one block from Mamaroneck Avenue’s dining, retail, and nightlife corridor
