Multistory Office
For Sale
Contact for pricing
54 N Broadway, Tarrytown, NY 10591
Multistory office building with updated half baths and renovated kitchen finishes across the upper floors.
Property Size3,745 SF
Price / SF$420.56
Days on Market454
Property Features for 54 N Broadway
General Information
Standard status
Active
Size
3,745 SF
Property subtype
OFFICE
Listing Agency:
Colliers - Stamford
(203) 961-6560
Listed By:
Craig Ruoff
(914) 441-7688
Source:
Moodyscre
Added: Jun 3, 2025
Changed: Aug 21
Last Checked: Aug 29 at 4:28PM
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 Colliers - Stamford
Investment Insights
Based on property information with market context.
Multistory office building with capital improvements that include renovated or updated half baths on the first and second floors and updated apartment baths. The third-floor kitchen features wood cabinetry, stainless steel appliances, a glass-tile backsplash, and hardwood flooring.
Additional updates include refinished porches within the past five years and a heating system conversion to gas.
The property is offered for sale with a total size of 3,745 square feet.
Additional updates include refinished porches within the past five years and a heating system conversion to gas.
The property is offered for sale with a total size of 3,745 square feet.
Key Highlights
- Heating system converted to gas
- First‑floor half bath, second‑floor half bath, and apartment baths renovated or updated
- Third‑floor kitchen with wood cabinetry, stainless steel appliances, glass‑tile backsplash, and hardwood flooring
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
$57,348
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
3.64%
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%
$1,146,960
$1.1M
Cap Rate 7%
$819,257
$819.3K
Cap Rate 9%
$637,200
$637.2K
Market Conditions
NOI Build-Up for 3,745 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
$102.9K $27.48/SF
− Vacancy
−$26.4K −$7.06/SF
EGI
$76.5K $20.42/SF
− OpEx
−$19.1K −$5.10/SF
NOI
$57.3K $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%
$1,146,960
Cap Rate 7%
$819,257
Cap Rate 9%
$637,200
Alternative Uses
Best Use
Office B
$819.3K
$716.9K – $955.8K
NOI $57,348 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.13M
$989.8K – $1.32M
NOI $79,186 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,331
Businesses Nearby
Explore this area
Business Placement
Demographics for 10591, NY
23,301
Population
10,566
Households
2.2
Avg Household Size
41
Median Age
54%
College-Educated
87%
High-School Grad
9.4 sq mi
ZIP Area
2,479
Density / Sq Mi
$103,480
Median Household Income
$61,537
Median Earnings
$1,943
Median Rent
$661,800
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 - Multistory office building with updated half baths and renovated kitchen finishes across the upper floors.
Where is this office building located?
The property is located at 54 N Broadway Tarrytown, NY.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Heating system converted to gas; First‑floor half bath, second‑floor half bath, and apartment baths renovated or updated; Third‑floor kitchen with wood cabinetry, stainless steel appliances, glass‑tile backsplash, and hardwood flooring
