Multi-Tenant Flex
For Sale
Contact for pricing
12 White Street, Buchanan, NY 10511
Industrial flex property with multiple suites, in-place occupancy, and access to regional transportation corridors.
Property Size35,284 SF
Lot Size1.63 Acres
Price / SF$184.22
Days on Market22
Property Features for 12 White Street
General Information
Standard status
Active
Size
35,284 SF
Lot size
1.63 Acres
Property subtype
Industrial
Occupancy
70%
Investment Type
Value Add
Net Operating Income
$358,332
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Building Details
Buildings
1
Stories
2
Units
10
Tenancy
Multi
Listing Agency:
NorthEast Private Client Group Shelton
Listed By:
Karl Hasselrot · License #CT
Source:
Crexi
Added: Aug 10
Changed: Aug 29
Last Checked: Aug 31 at 1:12AM
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 NorthEast Private Client Group Shelton
Investment Insights
Based on property information with market context.
This 35,284-square-foot flex property occupies roughly 1.63 acres and is arranged into 10 individual industrial suites. Seven suites are leased, while three are expected to be vacated by the current owner at closing. Tenants pay their own electric and heating costs, and the configuration provides separate spaces within one multi-tenant building.
The property is located at 12 White Street in Buchanan, New York, on the eastern bank of the Hudson River between Peekskill and Cortlandt. Access is available to Route 9, the Metro-North Hudson Line, Bear Mountain State Parkway, and Taconic State Parkway. The location also connects with the broader Hudson Valley and lower Westchester industrial market.
The property is located at 12 White Street in Buchanan, New York, on the eastern bank of the Hudson River between Peekskill and Cortlandt. Access is available to Route 9, the Metro-North Hudson Line, Bear Mountain State Parkway, and Taconic State Parkway. The location also connects with the broader Hudson Valley and lower Westchester industrial market.
Key Highlights
- 35,284‑square‑foot industrial flex building on roughly 1.63 acres
- 10 individual suites with 7 currently leased
- 3 suites expected to be vacated by the current owner at closing
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
$540,709
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
8.32%
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%
$10,814,180
$10.8M
Cap Rate 7%
$7,724,414
$7.7M
Cap Rate 9%
$6,007,878
$6.0M
Market Conditions
NOI Build-Up for 35,284 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
$677.5K $19.20/SF
− Vacancy
−$41.3K −$1.17/SF
EGI
$636.1K $18.03/SF
− OpEx
−$95.4K −$2.70/SF
NOI
$540.7K $15.32/SF
Area
Westchester County, NY
Vacancy
6.10%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
15.00%
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%
$10,814,180
Cap Rate 7%
$7,724,414
Cap Rate 9%
$6,007,878
Alternative Uses
Best Use
Warehouse
$7.72M
$6.76M – $9.01M
NOI $540,709 @ 7.0% cap · market cap 8.32%
Second Best
Flex RnD
$7.61M
$6.66M – $8.88M
NOI $532,817 @ 7.0% cap · market cap 8.20%
Theoretical Best
Retail
$10.66M
$9.33M – $12.43M
NOI $746,062 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10511, NY
2,369
Population
849
Households
2.8
Avg Household Size
42
Median Age
46%
College-Educated
95%
High-School Grad
1.5 sq mi
ZIP Area
1,579
Density / Sq Mi
$127,375
Median Household Income
$65,441
Median Earnings
$1,670
Median Rent
$492,000
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex property with multiple suites, in-place occupancy, and access to regional transportation corridors.
Where is this flex space located?
The property is located at 12 White Street Buchanan, NY.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 35,284‑square‑foot industrial flex building on roughly 1.63 acres; 10 individual suites with 7 currently leased; 3 suites expected to be vacated by the current owner at closing
