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    245 Saw Mill River Rd Hawthorne, NY 10532
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    245 Saw Mill River Rd Hawthorne, NY 10532

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    • Office Spaces
    • 4,073 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Holt Construction / Hardware & Home Improvement / Interior Design
    • Luminary Business Towing & Brokers / Auto Repair Shop
    • Caruso Financial Group / Financial Advisor
    • Dugan & Dugan / Law Firm
    • Grimaldi Jr Phillip A / Law Firm

    Property Details for 245 Saw Mill River Rd

    Property size
    4,073 SF
    Property type
    Office Spaces

    Description

    This exceptional 4,073-square-foot executive office suite is located at 245 Saw Mill River Road in Hawthorne, New York, within Westchester County (zip code 10532). Situated on the top floor, this corner unit boasts abundant natural light from its large windows. The space is currently configured to include furnished executive offices, providing a ready-to-occupy solution for a business seeking immediate functionality. A convenient open kitchen/break area is perfect for staff and client interaction. Furthermore, a dedicated conference room offers a professional setting for meetings and presentations, while a central bullpen area provides ample workspace for a team. The property is offered for both sale and lease, presenting a flexible option for potential buyers or tenants. The asking price for the sale is $1,225,000. This prestigious location in Hawthorne offers easy access to major transportation routes and amenities, making it an ideal location for a discerning business. The property is classified as an office condo, providing the benefits of ownership or lease within a well-maintained building. This turnkey solution combines modern amenities with a prime location, making it an attractive opportunity for businesses seeking a high-quality workspace.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hawthorne
    County
    Westchester
    State
    New York
    Longitude
    -73.8089
    Latitude
    41.1023

    Comparable in this City

    • Value Estimation by Request
      4,073 SF

      245 Saw Mill River Rd

      Office Spaces • 4,073 SF
      245 Saw Mill River Rd, Hawthorne, NY 10532
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      6,000 SF

      245 Saw Mill River Rd

      Office Units • 6,000 SF
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      21,869 SF

      15 Skyline Dr

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      $3,415,000
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      9 Skyline Dr

      OFFICE BUILDING • 29,955 SF
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    • Value Estimation by Request
      0.34 Acres

      147 Broadway

      OFFICE BUILDING • 0.34 Acres
      147 Broadway, Hawthorne, NY 10532-1103
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    • Value Estimation
      $880,000
      7,335 SF

      143 Broadway

      PROFESSIONAL BUILDING • 7,335 SF
      143 Broadway, Hawthorne, NY 10532-1103
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    Similar Nearby for Lease

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      Office Space Available For Lease

      Office space for lease at 22 Saw Mill River Rd.
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      Hawthorne Commercial Space For Lease

      Commercial space available for lease in Hawthorne, New York.
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    • $20 SF/Yr

      Modern Office Space Available

      Updated office space with modern design, versatile floor plan, and amenities.
      245 Saw Ml Riv Rd #301, Hawthorne, NY 10532
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    • $20 SF/Yr

      Modern Office Space Available

      Updated office space with modern design and convenient location.
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    Hawthorne, NY 10532
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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