Versatile Commercial Property in White Plains

70 Gedney Way, White Plains, NY 10605

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For Sale

$2,975,000

Adaptable 9,428 SF property with redevelopment potential in White Plains.

Type:Commercial

Property size:

9,428 SF

Lot size:

0.47 Acres

Price / SF:

$315/SF

Listing Contact

GARRY KLEIN

Real Estate License ID: 10301208172

HighLights

Flexible B‑2 Zoning: Supports retail, offices, multi‑family dwellings, and more, with potential for Restaurants/Catering with Special Permit.
Significant Expansion/Redevelopment Potential: Zoning allows up to 16,354 square feet of building space.
Ample Parking: Features 37 on‑site parking spaces.
Large Space: Offers 9,428 square feet, including a 3,482‑square‑foot basement.
Near 0.5‑Acre Lot: Provides a sizable land area.
Delivered Vacant: Ready for immediate occupancy.

For Sale

$2,975,000

Adaptable 9,428 SF property with redevelopment potential in White Plains.

Type:Commercial

Property size:

9,428 SF

Lot size:

0.47 Acres

Price / SF:

$315/SF

Added:: Jan 17, 2025
Days on Market:: 510
Last Refresh:: Apr 5 at 8:23 pm

Property Features for 70 Gedney Way

General Information

Standard status: Active
Size: 9,428 SF
Lot size: 0.47 Acres
Property subtype: Commercial

Building Details

Year Built: 1964

We can help!

Listing Contact

GARRY KLEIN

Listing agent GARRY KLEIN License #10301208172

Listing office HOULIHAN LAWRENCE COMMERCIAL

Listing date Jan 17, 2025

Source Corcoran

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 COMMERCIAL

HighLights

Flexible B‑2 Zoning: Supports retail, offices, multi‑family dwellings, and more, with potential for Restaurants/Catering with Special Permit.
Significant Expansion/Redevelopment Potential: Zoning allows up to 16,354 square feet of building space.
Ample Parking: Features 37 on‑site parking spaces.
Large Space: Offers 9,428 square feet, including a 3,482‑square‑foot basement.
Near 0.5‑Acre Lot: Provides a sizable land area.
Delivered Vacant: Ready for immediate occupancy.

Overview

This versatile commercial property, previously used as a bank and subsequently as a financial planning office, features a total area of 9,428 square feet. The building includes 5,946 square feet above ground and a 3,482-square-foot basement. Situated on a lot near 0.5 acres, the property provides 37 on-site parking spaces. It is located in a B-2 (Neighborhood Business) zone, which allows for a range of uses, including retail, professional offices, personal services, multi-family dwellings, day care centers, and laundry/dry-cleaning facilities. The property has a Floor Area Ratio (FAR) of 0.8, permitting up to 16,354 square feet of building space, which offers expansion or redevelopment possibilities. The zoning also allows for restaurants and catering with a special permit. This property is suitable for various businesses, medical or religious uses, non-profit institutions, or mixed-use development opportunities. The property will be delivered vacant.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$328.1k	$34.80
− Vacancy	−$43.3k	−$4.59
EGI	$284.8k	$30.21
− OpEx	−$85.4k	−$9.06
NOI	$199.4k	$21.14

9,428 SF · lease $34.80/SF/yr · vacancy 13.20% · expense 30.00%

Alternative Uses

Best Use

Retail

$2.85M

$2.49M – $3.32M (±1% cap)

NOI $199,350 @ 7.0% cap · market cap 6.70%

Second Best

Specialty Retail

$2.32M

$2.03M – $2.70M (±1% cap)

NOI $162,067 @ 7.0% cap · market cap 5.45%

Theoretical Best

—

same as Best Use

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Prato Capital Financial Advisor Prato Capital Management Financial Advisor

Suggested Use

Location Insight

Map
Local Demand

City: White Plains
County: Westchester
State: New York
Longitude: -73.7572
Latitude: 41.0141

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For sale
Office buildings
NY
White Plains
10605
70 Gedney Way

What type of property is this?

Office building - Adaptable 9,428 SF property with redevelopment potential in White Plains.

Where is this office building located?

The property is located at 70 Gedney Way White Plains, NY.

What is the asking price?

The asking price for this property is $2,975,000.

What are key features of this property?

This property features: Flexible B‑2 Zoning: Supports retail, offices, multi‑family dwellings, and more, with potential for Restaurants/Catering with Special Permit.; Significant Expansion/Redevelopment Potential: Zoning allows up to 16,354 square feet of building space.; Ample Parking: Features 37 on‑site parking spaces.