Building Details

Building Size 4,584 SF

Year Built 1956

Buildings 1

Stories 3

Units 6

Tenancy Multi

Listed By: Caroline E. Conte Show Phone

Source: Elliman

Added: Sep 19 Last Checked: Sep 21 at 9:15AM

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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 Caroline E. Conte

Investment Insights

Based on property information with market context.

This mixed-use commercial building provides six separately configured spaces across two primary levels: three first-floor retail units with individual entrances and three second-floor offices. The 5,328-square-foot property also includes 744 square feet of finished third-floor storage. Built in 1956, the building occupies more than half an acre with landscaped grounds, lawn areas, and bluestone-walk frontage. Fourteen parking spaces are included.

The property is located within the Bedford Village Historic District, near the Village Green. Bedford Hills train station is less than 5 minutes away, and Route 684 is only seconds from the property. The configuration supports a combination of retail and office occupancy within a single commercial asset.

Key Highlights

• 5,328‑square‑foot mixed‑use building with 744 square feet of finished third‑floor storage
• Three first‑floor retail spaces with separate entrances
• Three second‑floor office spaces

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

$112,658

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

5.95%

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%

$2,253,160 $2.3M

Cap Rate 7%

$1,609,400 $1.6M

Cap Rate 9%

$1,251,756 $1.3M

Market Conditions

NOI Build-Up for 5,328 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

$185.4K $34.80/SF

− Vacancy

−$24.5K −$4.59/SF

EGI

$160.9K $30.21/SF

− OpEx

−$48.3K −$9.06/SF

NOI

$112.7K $21.14/SF

Area

Westchester County, NY

Vacancy

13.20%

Lease Rate

$34.80 /SF/Yr

Expense Ratio

30.00%

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%

$2,253,160

Cap Rate 7%

$1,609,400

Cap Rate 9%

$1,251,756

Alternative Uses

Best Use

Retail

$1.61M

$1.41M – $1.88M (±1% cap)

NOI $112,658 @ 7.0% cap · market cap 5.95%

Second Best

Office B

$1.17M

$1.02M – $1.36M (±1% cap)

NOI $81,589 @ 7.0% cap · market cap 4.31%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Living Pearl (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Auto Repair Shop Dental Office Hair Salon Building Supply Furniture & Home Goods Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Office units

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

228

Businesses Nearby

Explore this area Business Placement

Demographics for 10506, NY

5,762

Population

2,408

Households

2.4

Avg Household Size

46

Median Age

86%

College-Educated

99%

High-School Grad

16.6 sq mi

ZIP Area

347

Density / Sq Mi

$250,001

Median Household Income

$122,917

Median Earnings

$3,188

Median Rent

$1,097,800

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Multi-tenant property with retail frontage, upper-level offices, landscaped grounds, and on-site parking in a historic village district.

Where is this mixed-use property located?

The property is located at 11-15 Court Rd Bedford, NY.

What is the asking price?

The asking price for this property is $1,895,000.

What are key features of this property?

This property features: 5,328‑square‑foot mixed‑use building with 744 square feet of finished third‑floor storage; Three first‑floor retail spaces with separate entrances; Three second‑floor office spaces