Bronxville Medical/Professional Office For
For Sale
$1,295,000
915 Palmer Rd Unit Bronxville, Yonkers, NY 10708
Medical or Professional Office in Bronxville for Sale
Property Size3,511 SF
Lot Size0.15 Acres
Price / SF$368.84
Days on Market272
Property Features for 915 Palmer Rd Unit Bronxville
General Information
Standard status
Active
Property type
Office buildings, Medical space, Live-work space, Office Spaces, Healthcare properties, Mixed-use properties
Size
3,511 SF
Class
B
Total Parking Spaces
4
Lot size
0.15 Acres
Building Details
Year Built
1921
Year Renovated
2025
Buildings
1
Stories
4
Listing Agency:
RE/MAX Distinguished Homes & Properties
Listed By:
Camelia Pena-rivera · License #10401258871
(914) 441-1393
Added: Jan 6
Changed: Mar 16
Investment Insights
Based on property information with market context.
The property at 915 Palmer Road in Bronxville, NY, is a four-story, 3,511 square foot building suitable for medical or professional office use. The building, formerly used as a home office, features 3 to 5 exam rooms and 3 to 8 bedrooms, allowing for flexible use. The first floor measures approximately 40 feet wide by 33 feet deep. The building contains 14 rooms and 3.5 bathrooms, along with a finished walk-out basement. The 6,385 square foot lot includes a private parking lot accommodating 4 to 6 cars, with the potential for up to 12 when double parked. Ample on-street, unmetered parking is also available. The property has vinyl siding, central air with two zones, natural gas heat, public sewer and water, and 200-amp electrical service. The location offers convenient access, with a bus stop in front and proximity to the Bronxville commuter rail station (0.3 miles). It is also close to major highways, The Bronx, and Manhattan. The property is near NewYork-Presbyterian Westchester Hospital (formerly Lawrence Hospital) and Sarah Lawrence College. It is ideal for medical and professional users or an owner-user. The property has been recently renovated and is listed below market value for office space in the Bronxville, NY 10708 area.
Key Highlights
- 1. Property recently renovated
- 2. Property listed below market value for office space in the Bronxville, NY 10708 area
- 3. Proximity to train station and bus stop
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
$66,358
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
5.12%
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%
$1,327,160
$1.3M
Cap Rate 7%
$947,971
$948.0K
Cap Rate 9%
$737,311
$737.3K
Market Conditions
NOI Build-Up for 3,511 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
$118.0K $33.60/SF
− Vacancy
−$11.8K −$3.36/SF
EGI
$106.2K $30.24/SF
− OpEx
−$39.8K −$11.34/SF
NOI
$66.4K $18.90/SF
Area
Yonkers, NY
Vacancy
10.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,327,160
Cap Rate 7%
$947,971
Cap Rate 9%
$737,311
Alternative Uses
Best Use
Mixed Use
$948.0K
$829.5K – $1.11M
NOI $66,358 @ 7.0% cap · market cap 5.12%
Second Best
Healthcare Medical
$797.4K
$697.7K – $930.3K
NOI $55,816 @ 7.0% cap · market cap 4.31%
Theoretical Best
Multifamily LT 5
$1.21M
$1.06M – $1.42M
NOI $84,958 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,657
Businesses Nearby
Explore this area
Business Placement
Demographics for 10708, NY
22,299
Population
10,004
Households
2.2
Avg Household Size
45
Median Age
65%
College-Educated
95%
High-School Grad
2.9 sq mi
ZIP Area
7,689
Density / Sq Mi
$121,107
Median Household Income
$80,556
Median Earnings
$2,161
Median Rent
$496,800
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Medical or Professional Office in Bronxville for Sale
Where is this office building located?
The property is located at 915 Palmer Rd Unit Bronxville Yonkers, NY.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 1. Property recently renovated; 2. Property listed below market value for office space in the Bronxville, NY 10708 area; 3. Proximity to train station and bus stop
