Freestanding Medical Office
New
For Sale
$1,900,000
131 CENTRAL AVE, Tarrytown, NY 10591
Existing clinical infrastructure, multiple entrances, and dedicated parking support a range of healthcare owner-user configurations.
Property Size3,963 SF
Price / SF$479.43
Days on Market7
Property Features for 131 CENTRAL AVE
General Information
Standard status
Active
Size
3,963 SF
Total Parking Spaces
27
Property subtype
Office
Additional Details
Asking Price
$1,900,000
Taxes and HOA fees
Annual Taxes
$44,023
Amenities
conference room
private office
administrative and staff areas
sterilization and storage rooms
oxygen storage
mechanical room
handicap-accessible restrooms
X-ray room
ethernet connectivity
air/vacuum/water connections
Electric
Building Details
Buildings
1
Building Size
3,963 SF
Listing Agency:
Triforce Commercial RE LLC
(845) 323-9177
Listed By:
Jason Horowitz · License ##10491207540
(845) 323-9177
Source:
Xome
Added: Aug 25
Changed: Aug 31
Last Checked: Aug 31 at 1:29PM
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 RE LLC
Investment Insights
Based on property information with market context.
Located at 131 Central Avenue in Tarrytown, this freestanding 3,963-square-foot medical office facility is configured for clinical operations and includes approximately 15 exam and treatment rooms. Many rooms retain or are prepared for plumbing, cabinetry, ethernet, and air, vacuum, and water connections. The building also contains a lead-lined X-ray room, a conference room previously used as a surgical suite, private office, administrative and staff areas, sterilization and storage rooms, oxygen storage, a mechanical room, and two handicap-accessible restrooms.
The property includes 27 on-site parking spaces and multiple entrances, with a layout that may support separate access and circulation for a potential two-tenant arrangement. Capital improvements include an HVAC system installed in 2020, roof membrane replacement approximately 2019, a recently replaced hot water tank, and parking lot resurfacing within the past several years. The existing configuration is suited to medical, dental, diagnostic, therapy, and other healthcare operations.
The property includes 27 on-site parking spaces and multiple entrances, with a layout that may support separate access and circulation for a potential two-tenant arrangement. Capital improvements include an HVAC system installed in 2020, roof membrane replacement approximately 2019, a recently replaced hot water tank, and parking lot resurfacing within the past several years. The existing configuration is suited to medical, dental, diagnostic, therapy, and other healthcare operations.
Key Highlights
- 3,963‑square‑foot freestanding medical office facility
- Approximately 15 exam and treatment rooms with existing or capped clinical connections
- Lead‑lined X‑ray room and conference room formerly used as a surgical suite
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
$64,557
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
3.40%
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%
$1,291,140
$1.3M
Cap Rate 7%
$922,243
$922.2K
Cap Rate 9%
$717,300
$717.3K
Market Conditions
NOI Build-Up for 3,963 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
$118.9K $30.00/SF
− Vacancy
−$11.3K −$2.85/SF
EGI
$107.6K $27.15/SF
− OpEx
−$43.0K −$10.86/SF
NOI
$64.6K $16.29/SF
Area
Westchester County, NY
Vacancy
9.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,291,140
Cap Rate 7%
$922,243
Cap Rate 9%
$717,300
Alternative Uses
Best Use
Healthcare Medical
$922.2K
$807.0K – $1.08M
NOI $64,557 @ 7.0% cap · market cap 3.40%
Second Best
Office B
$866.9K
$758.6K – $1.01M
NOI $60,686 @ 7.0% cap · market cap 3.19%
Theoretical Best
Retail
$1.20M
$1.05M – $1.40M
NOI $83,796 @ 7.0% cap · market cap 4.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,435
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10591, NY
23,301
Population
10,566
Households
2.2
Avg Household Size
41
Median Age
54%
College-Educated
87%
High-School Grad
9.4 sq mi
ZIP Area
2,479
Density / Sq Mi
$103,480
Median Household Income
$61,537
Median Earnings
$1,943
Median Rent
$661,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing clinical infrastructure, multiple entrances, and dedicated parking support a range of healthcare owner-user configurations.
Where is this medical office space located?
The property is located at 131 CENTRAL AVE Tarrytown, NY.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 3,963‑square‑foot freestanding medical office facility; Approximately 15 exam and treatment rooms with existing or capped clinical connections; Lead‑lined X‑ray room and conference room formerly used as a surgical suite
