611 Hartsdale AveHartsdale, NY 10530

Property Details for 611 Hartsdale Ave

Year built

2004

Property size (Sq ft)

29,000 SF

Property type

Healthcare properties

Property subtype

Other office properties

Description

This exceptional two-story, 29,000 square foot Class A office building in Hartsdale, NY presents a compelling value-add investment opportunity. Located at 611 W Hartsdale Ave, this fee-simple property boasts a prime location in Westchester County, offering convenient access to NYC, New Jersey, and Connecticut. The building, constructed in 2004 and fully renovated in 2017, features a striking atrium-style entry with a 32-foot ceiling and Brazilian marble flooring. Currently, the building is 68.2% occupied, with a prominent DaVita Dialysis center anchoring the first floor since September 2019. The lower level houses a Fred Astaire Dance Studio, adding to the diverse tenancy. The second floor offers approximately 7,000 square feet of vacant space, ideal for an owner-user or further lease-up. Four additional suites are also located on the second floor, including a doctor's office. The property includes 62 parking spaces and features a comprehensive suite of amenities, including a generator, sprinkler system, exterior lighting, and a snow melt system on exterior stairs. The building sits on a 61,855 square foot lot and is zoned LOB. Financial highlights include a current NOI of $153,033, a pro-forma NOI of $299,086, an asking price of $4,975,000, and a pro-forma cap rate of 6.01%. The property's strong tenant base, including a credit-rated, corporate-guaranteed franchisee, contributes to its stability and investment potential. The building is comprised of six units across two stories. Full occupancy is projected by October 17, 2024.

Location Insight

City

Hartsdale

County

Westchester

State

New York

Latitude

41.0359

Longitude

-73.8087

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