Fully Occupied Office
For Sale
$975,000
49 Smith Avenue, Mount Kisco, NY 10549
OC-zoned property includes a continuing owner-occupant leaseback and established tenants.
Property Size2,360 SF
Days on Market51
Property Features for 49 Smith Avenue
General Information
Standard status
Active
Size
2,360 SF
Total Parking Spaces
11
Property subtype
Commercial
Zoning
OC
Occupancy
100%
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1.00
Building Details
Building Size
2,360 SF
Year Built
1907
Buildings
1
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Keller Williams Realty Partner
(914) 234-4444
Listed By:
Mark Boyland
(914) 234-4444
Source:
Callexitfirst
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 28 at 11:29AM
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 Keller Williams Realty Partner
Investment Insights
Based on property information with market context.
49 Smith Avenue is a 1907 office building with 100% occupancy and a tenant profile that includes both the current owner and established occupants. The owner uses 50% of the building and is expected to remain under a long-term leaseback, while tenants occupy the balance of the property.
The property is positioned within Mount Kisco’s professional corridor, near downtown medical centers, dining, and retail. Regional access is supported by nearby major thoroughfares and the Metro-North station. Zoning is designated OC.
The property is positioned within Mount Kisco’s professional corridor, near downtown medical centers, dining, and retail. Regional access is supported by nearby major thoroughfares and the Metro-North station. Zoning is designated OC.
Key Highlights
- 100% occupancy across the office building
- Current owner occupies 50% and will remain through a long‑term leaseback
- Established tenants occupy the remaining 50% of the building
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
$36,139
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
3.71%
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%
$722,780
$722.8K
Cap Rate 7%
$516,271
$516.3K
Cap Rate 9%
$401,544
$401.5K
Market Conditions
NOI Build-Up for 2,360 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
$64.9K $27.48/SF
− Vacancy
−$16.7K −$7.06/SF
EGI
$48.2K $20.42/SF
− OpEx
−$12.0K −$5.10/SF
NOI
$36.1K $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%
$722,780
Cap Rate 7%
$516,271
Cap Rate 9%
$401,544
Alternative Uses
Best Use
Office B
$516.3K
$451.7K – $602.3K
NOI $36,139 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$712.9K
$623.8K – $831.7K
NOI $49,901 @ 7.0% cap · market cap 5.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,259
Businesses Nearby
Explore this area
Business Placement
Demographics for 10549, NY
16,837
Population
6,339
Households
2.7
Avg Household Size
42
Median Age
60%
College-Educated
88%
High-School Grad
19.1 sq mi
ZIP Area
882
Density / Sq Mi
$122,327
Median Household Income
$67,836
Median Earnings
$1,686
Median Rent
$652,800
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 - OC-zoned property includes a continuing owner-occupant leaseback and established tenants.
Where is this office building located?
The property is located at 49 Smith Avenue Mount Kisco, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 100% occupancy across the office building; Current owner occupies 50% and will remain through a long‑term leaseback; Established tenants occupy the remaining 50% of the building
