Freestanding Brick Office
New
For Sale
$2,875,000
550 N Bedford Rd, Bedford Hills, NY 10507
Two-story office property in CB zoning with roof-deck HVAC and level on-site parking.
Property Size9,032 SF
Days on Market2
Property Features for 550 N Bedford Rd
General Information
Standard status
Active
Size
9,032 SF
Total Parking Spaces
60
Property subtype
Commercial
Zoning
CB
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$47,587
Amenities
lunch area
roof deck
professionally landscaped exterior
Building Details
Building Size
9,032 SF
Year Built
1970
Buildings
1
Stories
2
Construction
brick
Listing Agency:
Ginnel Real Estate
Listed By:
Kevin Helmes · License #40HE0633143
(914) 525-1704
Source:
Elliman
Added: Sep 18
Last Checked: Sep 18 at 3:20PM
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 Ginnel Real Estate
Investment Insights
Based on property information with market context.
Built in 1970, this freestanding two-story brick office building includes multiple office rooms, restrooms, utility rooms, and stair access on both levels. The first floor has a glass-enclosed entry vestibule, stair lobby, and rear exit. The second floor adds a lunch area and interior access to the roof deck, where the HVAC equipment is located. A gas-fired generator, rubber-membrane roof, and landscaped exterior are also in place.
The property is located at 550 N Bedford Rd in Bedford Hills, with visibility from Bedford Road, also identified as Route 117. Restaurants and shops are within walking distance, while the train and Sawmill Parkway are nearby. Level parking is positioned at the front and side of the building, with approximately 60 spaces. The property carries CB zoning and has a walk score of 71 and bike score of 36.
The property is located at 550 N Bedford Rd in Bedford Hills, with visibility from Bedford Road, also identified as Route 117. Restaurants and shops are within walking distance, while the train and Sawmill Parkway are nearby. Level parking is positioned at the front and side of the building, with approximately 60 spaces. The property carries CB zoning and has a walk score of 71 and bike score of 36.
Key Highlights
- Two‑story brick office building constructed in 1970
- CB zoning with office layouts across two floors
- Approximately 60+/- level on‑site parking spaces at the front and side
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
$147,131
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
5.12%
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%
$2,942,620
$2.9M
Cap Rate 7%
$2,101,871
$2.1M
Cap Rate 9%
$1,634,789
$1.6M
Market Conditions
NOI Build-Up for 9,032 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
$271.0K $30.00/SF
− Vacancy
−$25.7K −$2.85/SF
EGI
$245.2K $27.15/SF
− OpEx
−$98.1K −$10.86/SF
NOI
$147.1K $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%
$2,942,620
Cap Rate 7%
$2,101,871
Cap Rate 9%
$1,634,789
Alternative Uses
Best Use
Healthcare Medical
$2.10M
$1.84M – $2.45M
NOI $147,131 @ 7.0% cap · market cap 5.12%
Second Best
Office B
$1.98M
$1.73M – $2.31M
NOI $138,309 @ 7.0% cap · market cap 4.81%
Theoretical Best
Retail
$2.73M
$2.39M – $3.18M
NOI $190,977 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
572
Businesses Nearby
Explore this area
Business Placement
Demographics for 10507, NY
6,521
Population
2,024
Households
3.2
Avg Household Size
39
Median Age
45%
College-Educated
79%
High-School Grad
7.4 sq mi
ZIP Area
881
Density / Sq Mi
$106,213
Median Household Income
$53,893
Median Earnings
$1,877
Median Rent
$628,500
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office property in CB zoning with roof-deck HVAC and level on-site parking.
Where is this office building located?
The property is located at 550 N Bedford Rd Bedford Hills, NY.
What is the asking price?
The asking price for this property is $2,875,000.
What are key features of this property?
This property features: Two‑story brick office building constructed in 1970; CB zoning with office layouts across two floors; Approximately 60+/- level on‑site parking spaces at the front and side
