Yorktown Medical/Office Building For
For Sale
$3,200,000
48 Route 6, Yorktown Heights, NY 10589
Architecturally stunning building with multiple suites and high traffic exposure.
Property Size11,094 SF
Days on Market207
Property Features for 48 Route 6
General Information
Standard status
Active
Size
11,094 SF
Total Parking Spaces
68
Property subtype
Commercial
Zoning
NS
Taxes and HOA fees
Annual Taxes
$58,897
Building Details
Building Size
11,094 SF
Year Built
1989
Units
5
Listing Agency:
Coldwell Banker Realty
(914) 277-5000
Listed By:
Gary Margolis · License #31MA0149997
(845) 729-4848
Source:
Alexandermadisonhomes
Added: Feb 9
Changed: Sep 4
Last Checked: Sep 3 at 5:53AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Located at 48 Route 6 in Yorktown, NY, this architecturally stunning brick building formerly housed CareMount Medical Offices. The property features four large medical/office suites, each equipped with private bathrooms, a reception area, multiple exam rooms with sinks, and multiple entrances. Floor-to-ceiling windows provide an abundance of natural light. The location benefits from high traffic exposure, with over 20,000 cars passing by daily. Ample parking is available, and the building is equipped with 24-hour security systems and a common vestibule for all tenants. The property is situated one mile from the Somers Common Shopping Center and four miles from the Jefferson Valley Mall and the Taconic State Parkway. Permitted uses within this zoning district (NS) include retail stores, personal service establishments, restaurants (excluding fast-food establishments), banks, medical, dental, veterinary, professional and business offices, child/adult day-care facilities, residential apartments over stores, mixed commercial and affordable residential development projects, and municipal facilities.
Key Highlights
- Architecturally stunning brick building with four large medical/office suites.
- High traffic exposure: 20,000+ cars per day.
- Multiple approved uses in zoning district (NS) including retail, restaurants, medical offices, and residential apartments.
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
$234,577
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
7.33%
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%
$4,691,540
$4.7M
Cap Rate 7%
$3,351,100
$3.4M
Cap Rate 9%
$2,606,411
$2.6M
Market Conditions
NOI Build-Up for 11,094 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
$386.1K $34.80/SF
− Vacancy
−$51.0K −$4.59/SF
EGI
$335.1K $30.21/SF
− OpEx
−$100.5K −$9.06/SF
NOI
$234.6K $21.14/SF
Area
Westchester County, NY
Vacancy
13.20%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
30.00%
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%
$4,691,540
Cap Rate 7%
$3,351,100
Cap Rate 9%
$2,606,411
Alternative Uses
Best Use
Retail
$3.35M
$2.93M – $3.91M
NOI $234,577 @ 7.0% cap · market cap 7.33%
Second Best
Healthcare Medical
$2.58M
$2.26M – $3.01M
NOI $180,721 @ 7.0% cap · market cap 5.65%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
268
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10589, NY
8,510
Population
4,020
Households
2.1
Avg Household Size
60
Median Age
66%
College-Educated
98%
High-School Grad
6.9 sq mi
ZIP Area
1,233
Density / Sq Mi
$123,293
Median Household Income
$88,162
Median Earnings
$3,501
Median Rent
$521,200
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?
Medical Office Space - Architecturally stunning building with multiple suites and high traffic exposure.
Where is this medical office space located?
The property is located at 48 Route 6 Yorktown Heights, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Architecturally stunning brick building with four large medical/office suites.; High traffic exposure: 20,000+ cars per day.; Multiple approved uses in zoning district (NS) including retail, restaurants, medical offices, and residential apartments.
