43-Unit Mixed-Use
For Sale
Contact for pricing
Pending
381 Broadway, Dobbs Ferry, NY 10522
Mixed-use building with 43 units, currently 100% leased, offered as an individual condo sellout opportunity.
Property Size42,535 SF
Days on Market184
Property Features for 381 Broadway
General Information
Standard status
Pending
Size
42,535 SF
Property subtype
Mixed Use, Multifamily, Retail
Zoning
DB
Occupancy
100%
Additional Details
Multifamily Units
43
Building Details
Year Built
1927
Buildings
1
Stories
5
Units
43
Tenancy
Multi
Listing Agency:
Cushman & Wakefield - Stamford, Connecticut
Listed By:
Al Mirin · License #CT RES.0471141
(203) 326-5822
Source:
Crexi
Added: Mar 5
Changed: Aug 16
Last Checked: Sep 4 at 5:08PM
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 Cushman & Wakefield - Stamford, Connecticut
Investment Insights
Based on property information with market context.
This mixed-use building features 43 residential units and is currently 100% leased. The offering is presented as an individual condo sellout opportunity, allowing a future owner to market units separately after acquisition.
The property is located at 381 Broadway in Dobbs Ferry, New York.
Additional specifics on building layout, retail components, and unit mix are not provided in the available information.
The property is located at 381 Broadway in Dobbs Ferry, New York.
Additional specifics on building layout, retail components, and unit mix are not provided in the available information.
Key Highlights
- Mixed‑use building built in 1927
- 43‑unit building
- Currently 100% leased
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
$729,550
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
7.56%
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%
$14,591,000
$14.6M
Cap Rate 7%
$10,422,143
$10.4M
Cap Rate 9%
$8,106,111
$8.1M
Market Conditions
NOI Build-Up for 42,535 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
$1.40M $33.00/SF
− Vacancy
−$77.2K −$1.82/SF
EGI
$1.33M $31.19/SF
− OpEx
−$596.9K −$14.03/SF
NOI
$729.5K $17.15/SF
Area
Westchester County, NY
Vacancy
5.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
45.00%
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%
$14,591,000
Cap Rate 7%
$10,422,143
Cap Rate 9%
$8,106,111
Alternative Uses
Best Use
Retail
$12.85M
$11.24M – $14.99M
NOI $899,380 @ 7.0% cap · market cap 9.32%
Second Best
Apartment 5plus
$10.42M
$9.12M – $12.16M
NOI $729,550 @ 7.0% cap · market cap 7.56%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
43
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
967
Businesses Nearby
Explore this area
Business Placement
Demographics for 10522, NY
11,587
Population
4,074
Households
2.8
Avg Household Size
42
Median Age
67%
College-Educated
94%
High-School Grad
2.4 sq mi
ZIP Area
4,828
Density / Sq Mi
$167,927
Median Household Income
$74,988
Median Earnings
$2,346
Median Rent
$719,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Mixed-use building with 43 units, currently 100% leased, offered as an individual condo sellout opportunity.
Where is this apartment building located?
The property is located at 381 Broadway Dobbs Ferry, NY.
What is the asking price?
The asking price for this property is $9,650,000.
What are key features of this property?
This property features: Mixed‑use building built in 1927; 43‑unit building; Currently 100% leased
