First-Floor Office
For Sale
$300,000
21 Clark Place, Carmel, NY 10541
Flexible professional suite with private access points, two bathrooms, and reconfiguration potential.
Property Size1,440 SF
Price / SF$208.33
Days on Market37
Property Features for 21 Clark Place
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Office
Occupancy
100%
Additional Details
Floor
First Floor
Office Units
1
Taxes and HOA fees
Annual Taxes
$3,116
Amenities
Central Air
3
Parking.
Lot.
Building Details
Tenancy
Single
Owner Occupied
No
Listing Agency:
Briante Realty Group, LLC
(845) 225-2020
Listed By:
Ann Marie D'Onofrio · License #10401328656
(914) 645-7604
Source:
Xome
Added: Aug 3
Changed: Sep 8
Last Checked: Aug 12 at 3:07AM
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 Briante Realty Group, LLC
Investment Insights
Based on property information with market context.
This 1,440 SF first-floor office condominium is located in the historic Old Stone Building at 21 Clark Place in Mahopac, NY. The suite is currently arranged as one professional office and includes two private entrances and two bathrooms. Its floor plan can be adapted into two independent office spaces if the occupant’s needs change.
The property is part of a five-unit office condominium with a shared monthly fee covering routine building upkeep and common operating expenses. Unit owners also share responsibility for major repairs. The suite is currently leased to a long-term tenant who intends to remain, providing an established occupancy profile for an investor or owner-occupant. Zoning is identified as Commercial Professional Building.
The property is part of a five-unit office condominium with a shared monthly fee covering routine building upkeep and common operating expenses. Unit owners also share responsibility for major repairs. The suite is currently leased to a long-term tenant who intends to remain, providing an established occupancy profile for an investor or owner-occupant. Zoning is identified as Commercial Professional Building.
Key Highlights
- 1,440 SF first‑floor office condominium
- Two private entrances and two bathrooms
- Floor plan can be reconfigured into two independent office spaces
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
$25,189
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
8.40%
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%
$503,780
$503.8K
Cap Rate 7%
$359,843
$359.8K
Cap Rate 9%
$279,878
$279.9K
Market Conditions
NOI Build-Up for 1,440 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
$39.1K $27.12/SF
− Vacancy
−$5.5K −$3.80/SF
EGI
$33.6K $23.32/SF
− OpEx
−$8.4K −$5.83/SF
NOI
$25.2K $17.49/SF
Area
Putnam County, NY
Vacancy
14.00%
Lease Rate
$27.12 /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%
$503,780
Cap Rate 7%
$359,843
Cap Rate 9%
$279,878
Alternative Uses
Best Use
Office B
$359.8K
$314.9K – $419.8K
NOI $25,189 @ 7.0% cap · market cap 8.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$952.1K
$833.1K – $1.11M
NOI $66,647 @ 7.0% cap · market cap 22.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
Explore this area
Business Placement
Demographics for 10541, NY
25,651
Population
9,614
Households
2.7
Avg Household Size
43
Median Age
43%
College-Educated
93%
High-School Grad
24.8 sq mi
ZIP Area
1,034
Density / Sq Mi
$133,929
Median Household Income
$58,450
Median Earnings
$1,967
Median Rent
$472,600
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?
Office units - Flexible professional suite with private access points, two bathrooms, and reconfiguration potential.
Where is this office units located?
The property is located at 21 Clark Place Carmel, NY.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,440 SF first‑floor office condominium; Two private entrances and two bathrooms; Floor plan can be reconfigured into two independent office spaces
