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    Medical Office Suite with Exam Rooms Title is generated by Realmo AI

    531 Central Park Avenue, Scarsdale, NY 10583

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    Claim this Listing
    For Lease
    $4,000 /Mo

    COMMERCIAL - Scarsdale, NY

    Type:Office
    Lot size:
    0.76 Acres
    Added:
    Jan 11, 2025
    Days on Market:
    511
    Last Refresh:
    Jun 6 at 4:06 am

    Property Features for 531 Central Park Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    APN
    2689-008-410-00298-000-0007
    Lot size
    0.76 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    79960

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Building materials
    Brick

    We can help!

    Listing Contact
    Keri Kenny

    Listing agent Keri Kenny License #RES.0819121

    Listing office Coldwell Banker Realty 338 Rte. 202, White Plains, NY

    Listing date Jan 11, 2025

    MLS# 812566

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Large office space available for immediate lease in Scarsdale, NY
    • Conveniently located off Central Park Ave with 23,000+ daily traffic count
    • 4 exam offices with sinks, large reception, and a private bathroom
    • First‑floor unit 102 offers access right off the back parking lot; elevator option from front parking lot
    • Plenty of parking and central air with forced‑air heating
    • Utilities include $4,000+ electric

    Overview

    A large medical-oriented office space is available for immediate lease, with Unit 102 positioned on the first floor. The suite includes four exam offices with sinks, a large reception area, a private bathroom, additional offices, and ample storage to support day-to-day clinical or service workflows.

    The property is conveniently located off Central Park Avenue in Scarsdale, with reported 23,000+ daily traffic counts. Access is convenient to bus stops and nearby shopping, dining, and highways, and the building provides plenty of parking. Unit 102 can be reached from the back parking lot, or by taking the elevator down one floor from the front parking lot. Additional offices across the hall are also available for lease.

    This space is well-suited for practices or professional teams that need dedicated exam rooms and private restroom access, supported by a central reception area and multiple ancillary offices. Lease terms are available with rent of $4,000 plus electric, supporting a straightforward setup for an operator ready to move in now.
    Property Profile Location Intelligence

    Current Use by Public Records

    Haeyoung Ko Hwang Physician Kanner Neil DDS Dental Office Marian Steele-Murray Foster Care Service Scarsdale Chiropractor Alternative Medicine Practice

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Scarsdale
    County
    Westchester
    State
    New York
    Longitude
    -73.8132197
    Latitude
    41.0043068

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    FAQs

    What type of property is this?
    Office units - First-floor suite offers multiple exam offices with sinks, reception, private restroom, and substantial storage plus parking access.
    Where is this office units located?
    The property is located at 531 Central Park Avenue Scarsdale, NY.
    What is the lease rate?
    The lease rate is $4,000 /Mo.
    What are key features of this property?
    This property features: Large office space available for immediate lease in Scarsdale, NY; Conveniently located off Central Park Ave with 23,000+ daily traffic count; 4 exam offices with sinks, large reception, and a private bathroom
    (203) 524-8120
    We can help!
    Listing Contact
    Keri Kenny
    Real Estate License ID: RES.0819121
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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