Building Details

Year Built 1967

Buildings 1

Stories 2

Units 1

Listing Agency: McGrath Realty Inc r***@mcgrathny.com Show Phone

Listed By: Mike Fitzgerald · License #NY 10401228039

Source: Crexi

Added: Mar 2, 2022 Changed: Aug 14 Last Checked: Aug 19 at 12:07PM

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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 McGrath Realty Inc

Investment Insights

Based on property information with market context.

Key Highlights

• Large 88,906 sq ft (2.041 acres) commercially‑zoned land parcel.
• Light industrial/office facility with two attached structures.
• 5,200 sq ft two‑story office building in good condition.**

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

$123,827

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

3.10%

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%

$2,476,540 $2.5M

Cap Rate 7%

$1,768,957 $1.8M

Cap Rate 9%

$1,375,856 $1.4M

Market Conditions

NOI Build-Up for 8,200 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

$216.5K $26.40/SF

− Vacancy

−$26.0K −$3.17/SF

EGI

$190.5K $23.23/SF

− OpEx

−$66.7K −$8.13/SF

NOI

$123.8K $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%

$2,476,540

Cap Rate 7%

$1,768,957

Cap Rate 9%

$1,375,856

Alternative Uses

Best Use

Flex RnD

$1.77M

$1.55M – $2.06M (±1% cap)

NOI $123,827 @ 7.0% cap · market cap 3.10%

Second Best

Industrial

$1.66M

$1.46M – $1.94M (±1% cap)

NOI $116,421 @ 7.0% cap · market cap 2.91%

Theoretical Best

Retail

$2.48M

$2.17M – $2.89M (±1% cap)

NOI $173,385 @ 7.0% cap · market cap 4.33%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Location Intelligence

Trade Area within ½ mile

485

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 10589, NY

8,510

Population

4,020

Households

2.1

Avg Household Size

60

Median Age

66%

College-Educated

98%

High-School Grad

6.9 sq mi

ZIP Area

1,233

Density / Sq Mi

$123,293

Median Household Income

$88,162

Median Earnings

$3,501

Median Rent

$521,200

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

Where is this flex space located?

The property is located at 154 US-202 Lincolndale, NY.

What is the asking price?

The asking price for this property is $4,000,000.

What are key features of this property?

This property features: Large 88,906 sq ft (2.041 acres) commercially‑zoned land parcel.; Light industrial/office facility with two attached structures.; 5,200 sq ft two‑story office building in good condition.**