Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1 Summit Ave, Unit 2ND White Plains, NY 10606

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $11,700 /Mo

    5,000 sq ft office space in White Plains.

    Lot size:
    0.32 Acres

    Property Features for 1 Summit Ave

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.32 Acres

    We can help!

    Listing Contact
    Vincent Buccieri
    Source: Elliman

    Listing Agency: Today Realty Corp. Listing Agent: Vincent Buccieri

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

    Learn more

    Overview

    White Plains Office Space

    This 5,000 sq ft office space is available for lease in White Plains. The versatile floor plan can be tailored to business needs. The location provides access to major highways and public transportation. Modern amenities include high-speed internet and central HVAC. Natural light enhances the work environment. On-site parking is available for employees and clients on a first-come, first-served basis, with 30 spaces. The property is located near restaurants, retail stores, and downtown conveniences. This professional space is suitable for corporate headquarters, creative workspaces, medical practices, or financial institutions.
    Location Intelligence

    Current Use by Public Records

    ClipTym LLC (Bike/Boat/Book/etc) Store Pamela M. Marinelli, ... Counselor TFC Service Bureau, ... Employment Agency Kelechi Umelo-Ihiekwe Registered General Nurse Shonny Capodilupo Foster Care Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    White Plains
    County
    Westchester
    State
    New York
    Longitude
    -73.7744981
    Latitude
    41.0218588

    Nearby Similar for Lease

    • New
      $600 /Mo
      20,473 SF

      White Plains Office Space Available

      Short-term office rentals in White Plains, convenient location.
      510 N Broadway, White Plains, NY 10603
      View Details
    • $1,200 /Mo
      Pending

      Adaptable Office Space in White Plains

      875 sqft office space near downtown White Plains.
      55-57 Lake St, White Plains, NY 10604
      View Details
    • $1,860 /Mo
      63,162 SF

      White Plains Office Space Available

      Office space for business or medical use near downtown.
      77 Tarrytown Rd, White Plains, NY 10607
      View Details
    • New
      $11,700 /Mo
      13,939 SF

      White Plains Office Space For Lease

      5,000 sq ft office space in White Plains.
      1 Smt Ave Unit, White Plains, NY 10606
      View Details
    • $6,000 /Mo
      6,534 SF

      Retail Space in White Plains

      Prime retail space in high-traffic strip center with full basement.
      210 Mamaroneck Ave, White Plains, NY 10601
      View Details
    • $25 SF/Yr
      2,610 SF

      Prime Retail Space, White Plains

      2,610 SF retail space near transit and office buildings.
      1 Martine Ave, White Plains, NY 10606
      View Details
    • Sponsored
      Contact for pricing

      Exchange at Westchester

      Workspaces, services and support to help you work better in Miami Airport
      777 Westchester Ave, White Plains, NY 10604
      View Details
    • $2,350 /Mo
      1,100 SF

      Renovated Office Space, Free Parking

      Fully renovated office space with free parking and 24-hour access.
      499 N Broadway, White Plains, NY 10603
      View Details
    • $6,500 /Mo
      6,000 SF

      White Plains Office Space Available

      Professionally designed office space in White Plains near transportation.
      99 Lafayette Ave, White Plains, NY 10603
      View Details
    • $3,950 /Mo
      3,000 SF

      Furnished Office Space Near Transportation

      Turnkey office space in White Plains, near train and highways.
      99 Lafayette Ave, White Plains, NY 10603
      View Details
    • $1,000 /Mo

      Furnished Office Space in White Plains

      Professionally furnished office space with city conveniences near Manhattan.
      445 Hamilton Ave, White Plains, NY 10601
      View Details
    • $8,500 /Mo
      Pending

      High-Visibility Retail Space Available

      Retail space with high visibility and parking.
      405 Mamaroneck Ave, White Plains, NY 10605
      View Details

    FAQs

    What type of property is this?
    Office units - 5,000 sq ft office space in White Plains.
    Where is this office units located?
    The property is located at 1 Summit Ave, Unit 2ND White Plains, NY.
    What is the lease rate?
    The lease rate is $11,700 /Mo.
    What are key features of this property?
    This property features: - Prime location in the heart of White Plains near downtown, highways, and public transportation.; - Spacious 5,000 sq ft versatile layout adaptable to various business needs.; - Suitable for diverse commercial uses: corporate, creative, medical, or financial.
    (718) 597-1777
    Request Owner's contact information
    1 Summit Ave, Unit 2ND White Plains, NY 10606
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1 Summit Ave, Unit 2ND
    White Plains, NY 10606
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1 Summit Ave, Unit 2ND White Plains, NY 10606
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Vincent Buccieri
    Real Estate License ID: 10301203112
    (718) 597-1777
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!