Historic Mixed-Use
For Sale
$750,000
2 Hardscrabble Road A, North Salem, NY 10560
Zoned PO with landscaped grounds, parking, and a layout suited to combined residential and professional office use.
Property Size2,789 SF
Price / SF$268.91
Days on Market17
Property Features for 2 Hardscrabble Road A
General Information
Standard status
Active
Size
2,789 SF
Site & Location
Highway Access
Yes
Public Transit
Yes
Amenities
landscaped grounds
Building Details
Year Built
1860
Buildings
1
Listing Agency:
Houlihan Lawrence Inc.
Listed By:
Nannette Fransen
(845) 279-6800
Source:
Amodiorealestate
Added: Sep 2
Changed: Sep 14
Last Checked: Sep 18 at 12:34PM
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 Houlihan Lawrence Inc.
Investment Insights
Based on property information with market context.
Constructed in 1860, this 2,789-square-foot mixed-use property combines historic character with a flexible interior arrangement. The building includes distinctive architectural details and copper gutters, while the landscaped grounds and expansive parking area support both residential occupancy and professional office use. A live-work configuration or office leasing arrangement may be considered, subject to zoning and applicable regulations.
The property is located at 2 Hardscrabble Road A in North Salem, NY, less than 2 minutes from Croton Falls train station and seconds from 684. PO zoning provides the framework for evaluating the property's permitted uses and operational possibilities.
The property is located at 2 Hardscrabble Road A in North Salem, NY, less than 2 minutes from Croton Falls train station and seconds from 684. PO zoning provides the framework for evaluating the property's permitted uses and operational possibilities.
Key Highlights
- 2,789‑square‑foot property constructed in 1860
- PO zoning supports evaluation of mixed‑use possibilities
- Located less than 2 minutes from Croton Falls train station
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
$42,709
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
5.69%
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%
$854,180
$854.2K
Cap Rate 7%
$610,129
$610.1K
Cap Rate 9%
$474,544
$474.5K
Market Conditions
NOI Build-Up for 2,789 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
$76.6K $27.48/SF
− Vacancy
−$19.7K −$7.06/SF
EGI
$56.9K $20.42/SF
− OpEx
−$14.2K −$5.10/SF
NOI
$42.7K $15.31/SF
Area
Westchester County, NY
Vacancy
25.70%
Lease Rate
$27.48 /SF/Yr
Expense Ratio
25.00%
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%
$854,180
Cap Rate 7%
$610,129
Cap Rate 9%
$474,544
Alternative Uses
Best Use
Office B
$610.1K
$533.9K – $711.8K
NOI $42,709 @ 7.0% cap · market cap 5.69%
Second Best
Mixed Use
$577.5K
$505.3K – $673.7K
NOI $40,423 @ 7.0% cap · market cap 5.39%
Theoretical Best
Retail
$842.5K
$737.2K – $982.9K
NOI $58,972 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
102
Businesses Nearby
Explore this area
Business Placement
Demographics for 10560, NY
4,854
Population
1,851
Households
2.6
Avg Household Size
48
Median Age
65%
College-Educated
98%
High-School Grad
20.9 sq mi
ZIP Area
232
Density / Sq Mi
$180,455
Median Household Income
$81,117
Median Earnings
$2,240
Median Rent
$656,600
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?
Mixed-use property - Zoned PO with landscaped grounds, parking, and a layout suited to combined residential and professional office use.
Where is this mixed-use property located?
The property is located at 2 Hardscrabble Road A North Salem, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,789‑square‑foot property constructed in 1860; PO zoning supports evaluation of mixed‑use possibilities; Located less than 2 minutes from Croton Falls train station
