Listing Agency: T Square Properties, Inc. Show Phone

Listed By: ​Jay Hitt Show Phone

Source: Moodyscre

Added: Feb 15, 2024 Changed: Oct 5 Last Checked: Oct 24 at 8:53PM

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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 T Square Properties, Inc.

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Investment Insights

Based on property information with market context.

This property features 2,000 square feet of flex space. The property offers room for expansion in the rear.

Key Highlights

• 2,000 square feet of space
• Room for expansion in the rear

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,202

Cap Rate

5.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$604,040 $604.0K

Cap Rate 7%

$431,457 $431.5K

Cap Rate 9%

$335,578 $335.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$52.8K $26.40/SF

− Vacancy

−$6.3K −$3.17/SF

EGI

$46.5K $23.23/SF

− OpEx

−$16.3K −$8.13/SF

NOI

$30.2K $15.10/SF

Area

Westchester County, NY

Vacancy

12.00%

Lease Rate

$26.40 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$604,040

Cap Rate 7%

$431,457

Cap Rate 9%

$335,578

Alternative Uses

Best Use

Flex RnD

$431.5K

$377.5K – $503.4K (±1% cap)

NOI $30,202 @ 7.0% cap · market cap 5.16%

Second Best

Industrial

$405.6K

$354.9K – $473.3K (±1% cap)

NOI $28,395 @ 7.0% cap · market cap 4.85%

Theoretical Best

Retail

$604.1K

$528.6K – $704.8K (±1% cap)

NOI $42,289 @ 7.0% cap · market cap 7.23%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Dave Goldberg Plumbing ... HVAC Service Disaster Restoration Inc Construction Company

Suggested Use

Top Pick Law Firm Building Supply Big Box & Wholesale Store HVAC Service Parking Lot & Garage Pharmacy

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

Location Intelligence

Trade Area within ½ mile

459

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Similar Off Market Nearby

• Jackies Pasta Passion — Mall Food Truck Park, 650 Lee Blvd Jefferson Valley, Yorktown Heights, NY 10598

Frequently Asked Questions

What type of property is this?

Flex space - 2,000 SF flex space with expansion potential.

Where is this flex space located?

The property is located at 390 E Main St Jefferson Valley, NY.

What is the asking price?

The asking price for this property is $585,000.

What are key features of this property?

This property features: 2,000 square feet of space; Room for expansion in the rear