Industrial Flex Building For
For Sale
$3,500,000
77 Lafayette Avenue, White Plains, NY 10603
16,000 SF industrial flex building, 88% leased.
Property Size16,000 SF
Price / SF$218.75
Days on Market183
Property Features for 77 Lafayette Avenue
General Information
Standard status
Active
Size
16,000 SF
Total Parking Spaces
46
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$42,954
Building Details
Year Built
1952
Listing Agency:
Houlihan Lawrence Commercial
(516) 822-1222
Listed By:
Rich Aponte (raponte@houlihanlawrence.com) · License #10301200070
(914) 798-4900
Source:
Longislandhomeslist
Added: Mar 5
Changed: Sep 3
Last Checked: Sep 2 at 4:47PM
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.
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
$241,613
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
6.90%
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%
$4,832,260
$4.8M
Cap Rate 7%
$3,451,614
$3.5M
Cap Rate 9%
$2,684,589
$2.7M
Market Conditions
NOI Build-Up for 16,000 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
$422.4K $26.40/SF
− Vacancy
−$50.7K −$3.17/SF
EGI
$371.7K $23.23/SF
− OpEx
−$130.1K −$8.13/SF
NOI
$241.6K $15.10/SF
Area
Westchester County, NY
Vacancy
12.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
35.00%
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%
$4,832,260
Cap Rate 7%
$3,451,614
Cap Rate 9%
$2,684,589
Alternative Uses
Best Use
Flex RnD
$3.45M
$3.02M – $4.03M
NOI $241,613 @ 7.0% cap · market cap 6.90%
Second Best
Industrial
$3.25M
$2.84M – $3.79M
NOI $227,163 @ 7.0% cap · market cap 6.49%
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10603, NY
18,033
Population
7,624
Households
2.4
Avg Household Size
41
Median Age
47%
College-Educated
88%
High-School Grad
3.4 sq mi
ZIP Area
5,304
Density / Sq Mi
$121,450
Median Household Income
$56,466
Median Earnings
$1,905
Median Rent
$499,600
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
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.
