Historic Queen Anne Victorian
For Sale
$2,725,000
413-415 Bedford Road, Pleasantville, NY 10570
Prestigious office building in Pleasantville, New York, with historical significance.
Property Size8,320 SF
Days on Market454
Property Features for 413-415 Bedford Road
General Information
Standard status
Active
Size
8,320 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$51,000
Building Details
Building Size
8,320 SF
Listing Agency:
Century 21 Hire Realty
(914) 393-4789
Listed By:
Nicholas E. McMillan
(914) 393-4789
Source:
Cohenandcohenrealty
Added: May 27, 2025
Changed: Aug 23
Last Checked: Aug 23 at 5:30AM
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 Century 21 Hire Realty
Investment Insights
Based on property information with market context.
The Marmaduke Forster House, located in Pleasantville, New York, is a Queen Anne Victorian building recognized by the Department of the Interior on its list of National Historic Places. Dating back to 1785, this property offers an investment opportunity in office spaces. The property includes 13 offices with a history of low vacancy rates. The building features stately columns, a symmetrical facade, a gabled roof, landscaped gardens, and ample parking. The grand entrance foyer includes soaring ceilings and intricate moldings. Period-appropriate details include original fireplaces and ornate woodwork. The office spaces are versatile and can accommodate diverse businesses and professional services. The property is equipped with updated HVAC and electrical systems, high-speed internet connectivity, modern kitchens, and restroom facilities. The property is easily accessible and enjoys proximity to major highways and public transportation. The surrounding neighborhood provides numerous amenities, encompassing dining, shopping, and recreational activities.
Key Highlights
- Prime Location in the thriving village of Pleasantville, NY, with easy access to major highways, public transportation, dining, shopping, and recreational activities.
- Income Potential: Features 13 office spaces with a history of consistently low vacancy rates.
- Historic Significance: Recognized as a National Historic Place, dating back to 1785.
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
$127,406
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
4.68%
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%
$2,548,120
$2.5M
Cap Rate 7%
$1,820,086
$1.8M
Cap Rate 9%
$1,415,622
$1.4M
Market Conditions
NOI Build-Up for 8,320 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
$228.6K $27.48/SF
− Vacancy
−$58.8K −$7.06/SF
EGI
$169.9K $20.42/SF
− OpEx
−$42.5K −$5.10/SF
NOI
$127.4K $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%
$2,548,120
Cap Rate 7%
$1,820,086
Cap Rate 9%
$1,415,622
Alternative Uses
Best Use
Office B
$1.82M
$1.59M – $2.12M
NOI $127,406 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$2.51M
$2.20M – $2.93M
NOI $175,922 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,320
Businesses Nearby
Explore this area
Business Placement
Demographics for 10570, NY
13,986
Population
4,481
Households
3.1
Avg Household Size
38
Median Age
73%
College-Educated
95%
High-School Grad
7.1 sq mi
ZIP Area
1,970
Density / Sq Mi
$188,262
Median Household Income
$72,542
Median Earnings
$1,958
Median Rent
$862,400
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 building - Prestigious office building in Pleasantville, New York, with historical significance.
Where is this office building located?
The property is located at 413-415 Bedford Road Pleasantville, NY.
What is the asking price?
The asking price for this property is $2,725,000.
What are key features of this property?
This property features: Prime Location in the thriving village of Pleasantville, NY, with easy access to major highways, public transportation, dining, shopping, and recreational activities.; Income Potential: Features 13 office spaces with a history of consistently low vacancy rates.; Historic Significance: Recognized as a National Historic Place, dating back to 1785.
