Two-Story Medical
New
For Sale
$2,500,000
116 N Central Avenue, Hartsdale, NY 10530
COMMERCIAL - Hartsdale, NY
Property Size4,825 SF
Lot Size0.32 Acres
Price / SF$518.13
Days on Market6
Property Features for 116 N Central Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Basement
Finished, Full
Elementary school
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Middle school
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High school
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Elementary school district
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Middle school district
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High school district
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Standard status
Active
APN
2689-008-250-00185-000-0008
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
21929
Utilities
Sewer type
Public Sewer
Heating system
Steam, Oil
Cooling system
Multi Units, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Building materials
Shingle Siding
Listing Agency:
New Concept Sheiks Realty Inc.
(718) 320-4700
Listed By:
Sheik Khan · License #10311203596
(914) 733-2168
Added: Aug 15
Last Checked: Aug 20 at 12:06AM
MLS# 1039220
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
The property at 116 N Central Avenue comprises approximately 4,825 SF across two stories and two buildings. The existing configuration is suited to a dental or medical office, with a basement, shingle siding, steam and oil heating, and multiple cooling units including window and wall/window units.
Located in Hartsdale, the property fronts N Central Avenue and includes approximately 15 on-site parking spaces. Public water and public sewer serve the site, providing established utility infrastructure for continued office use.
Located in Hartsdale, the property fronts N Central Avenue and includes approximately 15 on-site parking spaces. Public water and public sewer serve the site, providing established utility infrastructure for continued office use.
Key Highlights
- Approximately 4,825 SF across two stories and two buildings
- Existing dental office configuration for medical office use
- Approximately 15 on‑site parking 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
$78,599
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
3.14%
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%
$1,571,980
$1.6M
Cap Rate 7%
$1,122,843
$1.1M
Cap Rate 9%
$873,322
$873.3K
Market Conditions
NOI Build-Up for 4,825 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
$144.8K $30.00/SF
− Vacancy
−$13.8K −$2.85/SF
EGI
$131.0K $27.15/SF
− OpEx
−$52.4K −$10.86/SF
NOI
$78.6K $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%
$1,571,980
Cap Rate 7%
$1,122,843
Cap Rate 9%
$873,322
Alternative Uses
Best Use
Healthcare Medical
$1.12M
$982.5K – $1.31M
NOI $78,599 @ 7.0% cap · market cap 3.14%
Second Best
Office B
$1.06M
$923.6K – $1.23M
NOI $73,886 @ 7.0% cap · market cap 2.96%
Theoretical Best
Retail
$1.46M
$1.28M – $1.70M
NOI $102,022 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,061
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10530, NY
13,037
Population
6,795
Households
1.9
Avg Household Size
50
Median Age
65%
College-Educated
94%
High-School Grad
3.9 sq mi
ZIP Area
3,343
Density / Sq Mi
$118,114
Median Household Income
$75,575
Median Earnings
$2,334
Median Rent
$445,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Hartsdale Veterinary Hospital — 193 E Hartsdale Ave, Hartsdale, NY 10530
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing dental-office layout with on-site parking and public water and sewer service.
Where is this medical office space located?
The property is located at 116 N Central Avenue Hartsdale, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Approximately 4,825 SF across two stories and two buildings; Existing dental office configuration for medical office use; Approximately 15 on‑site parking spaces
