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    3699 Old Yorktown Rd Shrub Oak, NY 10588

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    For Lease
    $4,500 /Mo

    Second floor office with natural light, open layout, and parking.

    Property Features for 3699 Old Yorktown Rd

    General Information

    Property type
    Commercial
    Standard status
    Active

    We can help!

    Listing Contact
    Keri Kenny
    Source: Elliman

    Listing Agency: Coldwell Banker Realty Listing Agent: Keri Kenny

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Spacious Second Floor Office Space

    This is a large second-floor office space available for immediate lease. The space features an open floor plan and is illuminated by substantial architectural windows that provide abundant natural light. It includes a private bathroom, between four and five offices, a kitchen, and a reception area, as well as ample storage. The location offers convenient access, with a bus stop located directly in front of the building and the Taconic State Parkway nearby. Ample parking is available. The property is surrounded by other businesses that contribute to foot traffic in the building. The intended use of this property is for office space.
    Location Intelligence

    Current Use by Public Records

    Living Life Chiropractic Alternative Medicine Practice Premier Heating And Cooling ... HVAC Service R‎‎‎‎‎‎‎‎u‎‎‎‎‎‎‎‎g C‎‎l‎‎‎‎e‎‎an‎‎i‎‎n‎‎g S‎‎h‎‎‎‎r‎‎u‎‎b ... Carpet Cleaning Service

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Shrub Oak
    County
    Westchester
    State
    New York
    Longitude
    -73.820351
    Latitude
    41.32837

    Nearby Similar for Lease

    • $4,500 /Mo

      Spacious Office Space Available

      Second-floor office with natural light, private bathroom, and ample parking.
      3699 Old Yorktown Rd, Shrub Oak, NY 10588
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Shrub Oak

      Retail property for rent in Westchester County, Shrub Oak.
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    • $25 SF/Yr
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      Retail Space on Main Street

      Retail space available for lease on Main Street.
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    • $25 SF/Yr
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      Retail Space in Shrub Oak

      6,300 SF retail space available for lease.
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    • $35 SF/Yr
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      Office Space Available For Rent

      Office space available for rent in Shrub Oak, NY.
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    FAQs

    What type of property is this?
    Office units - Second floor office with natural light, open layout, and parking.
    Where is this office units located?
    The property is located at 3699 Old Yorktown Rd Shrub Oak, NY.
    What is the lease rate?
    The lease rate is $4,500 /Mo.
    What are key features of this property?
    This property features: - Immediate availability for lease.; - Convenient location: steps from Taconic State Parkway and bus stop out front.; - Ample parking and high foot traffic from successful neighboring tenants.
    (203) 524-8120
    Request Owner's contact information
    3699 Old Yorktown Rd Shrub Oak, NY 10588
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    Shrub Oak, NY 10588
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3699 Old Yorktown Rd Shrub Oak, NY 10588
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    We can help!
    Listing Contact
    Keri Kenny
    Real Estate License ID: 10401337125
    (203) 524-8120 (914) 277-5000
    Learn more
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