Industrial Flex Building For
77 Lafayette Avenue White Plains, NY 10603
77 Lafayette Avenue, White Plains, NY, 10603
$3,500,000
For Sale
$3,500,000
16,000 SF industrial flex building, 88% leased.
Property Size16,000 SF
Lot Size0.69 Acres
Price / SF$218.75
Days on Market1026
Property Features for 77 Lafayette Avenue
General Information
- Standard status
- Active
- Size
- 16,000 SF
- Lot size
- 0.69 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1952
Listing agency
HOULIHAN LAWRENCE COMMERCIAL
(914) 798-4900
Listed by
RICH APONTE · License #10301200070
Source
Corcoran
Added: Sep 30, 2023 Updated: Jul 6 at 9:57AM Checked: Jul 21 at 6:08AM
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 HOULIHAN LAWRENCE COMMERCIAL
Investment Insights
Based on property information with market context.
This 16,000 square foot industrial flex building is currently 88% leased with five tenants. The property features 2000 Amp 3 phase power and ample parking with 46 spaces. There are three office tenants at street level and two tenants at the lower level. The property includes fenced parking and one overhead door bay. The zoning is IND-A, permitting uses such as business and professional offices and studios, supply houses, warehouses and commercial distribution plants, manufacturing, fabricating, finishing, and assembling of products. Other permitted uses include retail fuel storage and sales, storage of gasoline (subject to specific storage requirements), public or private garages, automobile repair work (indoors only), gasoline filling and service stations, taxi and limousine dispatch facilities, off-street parking facilities, and fine arts instruction schools. Utilities available include cooling, heating, and lighting. There is one 1850 square foot vacancy.
Key Highlights
- 16,000 SF industrial flex building with 88% occupancy, providing immediate income from (5) tenants.
- 2000 Amp 3 phase power, suitable for a variety of industrial uses.
- Ample parking with (46) spaces, a valuable asset.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $439.7k | $27.48 |
| − Vacancy | −$113.0k | −$7.06 |
| EGI | $326.7k | $20.42 |
| − OpEx | −$81.7k | −$5.10 |
| NOI | $245.0k | $15.31 |
16,000 SF · lease $27.48/SF/yr · vacancy 25.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.50M
$3.06M – $4.08M
NOI $245,012 @ 7.0% cap · market cap 7.00%
Second Best
Flex RnD
$3.45M
$3.02M – $4.03M
NOI $241,613 @ 7.0% cap · market cap 6.90%
Theoretical Best
Retail
$4.83M
$4.23M – $5.64M
NOI $338,312 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
RKF Training
Gym & Fitness Center
FASTSIGNS® of White Plains, ...
(Bike/Boat/Book/etc) Store
American Star Contractor ...
Roofing Company
Emilio Accordions
(Bike/Boat/Book/etc) Store
Byram Concrete & Supply ...
Construction Company
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - 16,000 SF industrial flex building, 88% leased.
Where is this flex space located?
The property is located at 77 Lafayette Avenue White Plains, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 16,000 SF industrial flex building with 88% occupancy, providing immediate income from (5) tenants.; **2000 Amp 3 phase power**, suitable for a variety of industrial uses.; **Ample parking with (46) spaces**, a valuable asset.
