Building Details

Buildings 2

Stories 2

Listing Agency: New Concept Sheiks Realty Inc. c***@aol.com Show Phone

Listed By: Sheik Khan · License #10311203596 Show Phone

Source: Exprealty

Added: Aug 15 Changed: Aug 30 Last Checked: Aug 30 at 4:08AM

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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 New Concept Sheiks Realty Inc.

Investment Insights

Based on property information with market context.

This medical office property comprises approximately 4, 825 square feet across two stories and two buildings. The existing interior configuration is suited to dental or other medical professional use, with a layout that can support continued clinical operations or adaptation for a related practice.

The property is located in Hartsdale within Greenburgh, NY, and includes approximately 15 on-site parking spaces. Its position along N Central Avenue provides direct street exposure for a professional office user.

Key Highlights

• Approximately 4, 825 sf across two stories and two buildings
• Existing dental office layout
• Medical professional office property in Hartsdale

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

$78,599

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

3.14%

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%

$1,571,980 $1.6M

Cap Rate 7%

$1,122,843 $1.1M

Cap Rate 9%

$873,322 $873.3K

Market Conditions

NOI Build-Up for 4,825 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

$144.8K $30.00/SF

− Vacancy

−$13.8K −$2.85/SF

EGI

$131.0K $27.15/SF

− OpEx

−$52.4K −$10.86/SF

NOI

$78.6K $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%

$1,571,980

Cap Rate 7%

$1,122,843

Cap Rate 9%

$873,322

Alternative Uses

Best Use

Healthcare Medical

$1.12M

$982.5K – $1.31M (±1% cap)

NOI $78,599 @ 7.0% cap · market cap 3.14%

Second Best

Office B

$1.06M

$923.6K – $1.23M (±1% cap)

NOI $73,886 @ 7.0% cap · market cap 2.96%

Theoretical Best

Retail

$1.46M

$1.28M – $1.70M (±1% cap)

NOI $102,022 @ 7.0% cap · market cap 4.08%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage (Bike/Boat/Book/etc) Store Auto Parts Store Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,172

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 10530, NY

13,037

Population

6,795

Households

1.9

Avg Household Size

50

Median Age

65%

College-Educated

94%

High-School Grad

3.9 sq mi

ZIP Area

3,343

Density / Sq Mi

$118,114

Median Household Income

$75,575

Median Earnings

$2,334

Median Rent

$445,600

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties ... What are key features of this property?

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Similar Off Market Nearby

• Hartsdale Veterinary Hospital — 193 E Hartsdale Ave, Hartsdale, NY 10530
• Petco Vaccination Clinic — 324 N Central Ave, Hartsdale, NY 10530

Frequently Asked Questions

What type of property is this?

Medical Office Space - Two-building configuration includes an existing dental-office layout and on-site parking.

Where is this medical office space located?

The property is located at 2-116 N Central Avenue Greenburgh, NY.

What is the asking price?

The asking price for this property is $2,500,000.

What are key features of this property?

This property features: Approximately 4, 825 sf across two stories and two buildings; Existing dental office layout; Medical professional office property in Hartsdale