Three-Building Industrial
For Sale
$4,500,000
37 Old Albany Post Road, Ossining, NY 10562
Three industrial buildings totaling 5 income-producing units, plus on-site parking with 16 spaces, on a 1.94-acre lot.
Property Size11,600 SF
Lot Size1.94 Acres
Price / SF$387.93
Days on Market37
Property Features for 37 Old Albany Post Road
General Information
Standard status
Active
Size
11,600 SF
Total Parking Spaces
16
Lot size
1.94 Acres
Property subtype
Industrial
Building Details
Building Size
11,600 SF
Listing Agency:
Triforce Commercial Real Estate
(845) 323-9177
Listed By:
Jason Horowitz · License #NJ #1433362
Source:
Triforcecre
Added: Jul 24
Changed: Aug 26
Last Checked: Aug 29 at 8:12AM
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 Triforce Commercial Real Estate
Investment Insights
Based on property information with market context.
The property at 37 Old Albany Post Road includes three industrial buildings on a 1.9416-acre lot, totaling approximately 11,600 square feet of building space. The buildings are currently arranged into five income-producing units, creating multiple revenue streams within the existing configuration. Additional income is generated from on-site parking, including a separate parking area with 16 spaces.
Current combined monthly building and parking income is approximately $30,455, for estimated annual income of approximately $365,460. Operating expenses are estimated at approximately $61,109 annually, resulting in projected net operating income of approximately $304,351. The property also includes scheduled rent increases.
This offering is positioned for investors seeking a multi-building industrial asset with existing unit income and parking revenue.
Current combined monthly building and parking income is approximately $30,455, for estimated annual income of approximately $365,460. Operating expenses are estimated at approximately $61,109 annually, resulting in projected net operating income of approximately $304,351. The property also includes scheduled rent increases.
This offering is positioned for investors seeking a multi-building industrial asset with existing unit income and parking revenue.
Key Highlights
- Three industrial buildings totaling approx. 11,600 SF on a 1.9416‑acre lot in Ossining, NY
- Property is configured with 5 income‑producing units across the three buildings
- On‑site parking includes a separate parking area with 16 spaces, adding to rental income
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
$175,169
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
3.89%
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%
$3,503,380
$3.5M
Cap Rate 7%
$2,502,414
$2.5M
Cap Rate 9%
$1,946,322
$1.9M
Market Conditions
NOI Build-Up for 11,600 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
$306.2K $26.40/SF
− Vacancy
−$36.7K −$3.17/SF
EGI
$269.5K $23.23/SF
− OpEx
−$94.3K −$8.13/SF
NOI
$175.2K $15.10/SF
Area
Westchester County, NY
Vacancy
12.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
35.00%
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%
$3,503,380
Cap Rate 7%
$2,502,414
Cap Rate 9%
$1,946,322
Alternative Uses
Best Use
Flex RnD
$2.50M
$2.19M – $2.92M
NOI $175,169 @ 7.0% cap · market cap 3.89%
Second Best
Industrial
$2.35M
$2.06M – $2.74M
NOI $164,693 @ 7.0% cap · market cap 3.66%
Theoretical Best
Retail
$3.50M
$3.07M – $4.09M
NOI $245,276 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10562, NY
34,252
Population
12,745
Households
2.7
Avg Household Size
40
Median Age
46%
College-Educated
87%
High-School Grad
13.5 sq mi
ZIP Area
2,537
Density / Sq Mi
$113,069
Median Household Income
$53,499
Median Earnings
$2,118
Median Rent
$486,700
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Three industrial buildings totaling 5 income-producing units, plus on-site parking with 16 spaces, on a 1.94-acre lot.
Where is this flex space located?
The property is located at 37 Old Albany Post Road Ossining, NY.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Three industrial buildings totaling approx. 11,600 SF on a 1.9416‑acre lot in Ossining, NY; Property is configured with 5 income‑producing units across the three buildings; On‑site parking includes a separate parking area with 16 spaces, adding to rental income
