Historic Live-Work
For Sale
$750,000
A-2 Hardscrabble Rd, North Salem, NY 10560
Flexible layout with landscaped grounds and expansive parking supports residential, office, or combined use subject to applicable regulations.
Property Size2,789 SF
Price / SF$268.91
Days on Market8
Property Features for A-2 Hardscrabble Rd
General Information
Standard status
Active
Size
2,789 SF
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$15,947
Building Details
Year Built
1860
Listing Agency:
Houlihan Lawrence Inc.
(845) 279-6800
Listed By:
Nannette Fransen
(914) 406-9358
Source:
Exprealty
Added: Aug 31
Changed: Sep 4
Last Checked: Sep 6 at 11:44AM
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 Inc.
Investment Insights
Based on property information with market context.
Built in 1860, this 2,789-square-foot live-work property combines a maintained structure with character-rich architectural details, copper gutters, and a flexible interior arrangement. The property is positioned on over half an acre of landscaped grounds and includes an expansive parking area that supports office or permitted business use.
The layout can accommodate residential living, professional office space, or a combination of the two, subject to zoning and applicable regulations. Office areas may also be leased separately for additional income. The property is less than 2 minutes from Croton Falls train station and seconds from 684.
The layout can accommodate residential living, professional office space, or a combination of the two, subject to zoning and applicable regulations. Office areas may also be leased separately for additional income. The property is less than 2 minutes from Croton Falls train station and seconds from 684.
Key Highlights
- Built in 1860
- 2,789‑square‑foot property on over half an acre
- Character‑rich details with copper gutters
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
$42,709
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
5.69%
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%
$854,180
$854.2K
Cap Rate 7%
$610,129
$610.1K
Cap Rate 9%
$474,544
$474.5K
Market Conditions
NOI Build-Up for 2,789 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
$76.6K $27.48/SF
− Vacancy
−$19.7K −$7.06/SF
EGI
$56.9K $20.42/SF
− OpEx
−$14.2K −$5.10/SF
NOI
$42.7K $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%
$854,180
Cap Rate 7%
$610,129
Cap Rate 9%
$474,544
Alternative Uses
Best Use
Office B
$610.1K
$533.9K – $711.8K
NOI $42,709 @ 7.0% cap · market cap 5.69%
Second Best
Mixed Use
$577.5K
$505.3K – $673.7K
NOI $40,423 @ 7.0% cap · market cap 5.39%
Theoretical Best
Retail
$842.5K
$737.2K – $982.9K
NOI $58,972 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
102
Businesses Nearby
Explore this area
Business Placement
Demographics for 10560, NY
4,854
Population
1,851
Households
2.6
Avg Household Size
48
Median Age
65%
College-Educated
98%
High-School Grad
20.9 sq mi
ZIP Area
232
Density / Sq Mi
$180,455
Median Household Income
$81,117
Median Earnings
$2,240
Median Rent
$656,600
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?
Live-work space - Flexible layout with landscaped grounds and expansive parking supports residential, office, or combined use subject to applicable regulations.
Where is this live-work space located?
The property is located at A-2 Hardscrabble Rd North Salem, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Built in 1860; 2,789‑square‑foot property on over half an acre; Character‑rich details with copper gutters
