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    Property profile & analytics

    341-385 Halstead Ave Harrison, NY 10528

    • Retail properties
    • 26,193 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Harrison Shopping Square / Shopping Center & Mall

    Property Details for 341-385 Halstead Ave

    Property size
    26,193 SF
    Property type
    Retail properties

    Description

    This exceptional retail property, Harrison Shopping Square, located at 341-385 Halstead Ave in Harrison, New York (zip code 10528), offers a significant investment opportunity. The property boasts a total building area of 26,193 square feet, with a substantial 12,018 square feet currently vacant, presenting a unique chance for expansion or new tenancy. Its classification is Retail/Commercial, featuring multiple tenancies. Situated in Westchester County, this center enjoys a highly desirable location, a short walk from the Harrison Metro North Train Station, ensuring excellent accessibility and high foot traffic. The property's address is 341-385 Halstead Ave, Harrison, NY 10528. The convenient location and substantial vacant space make this property ideal for a variety of retail businesses seeking a prominent presence in a thriving community. The existing infrastructure provides a solid foundation for immediate occupancy and customization to suit specific business needs. This is a rare opportunity to acquire a well-positioned retail center in a prime Westchester County location. Serious inquiries are encouraged to explore this promising investment prospect further.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Harrison
    County
    Westchester
    State
    New York
    Longitude
    -73.7089
    Latitude
    40.9695

    Comparable in this City

    • Value Estimation by Request
      4,000 SF

      291 Halstead Ave

      Retail properties • 4,000 SF
      291 Halstead Ave, Harrison, NY 10528
      View Details
    • Value Estimation by Request
      26,193 SF

      341-385 Halstead Ave

      Retail properties • 26,193 SF
      341-385 Halstead Ave, Harrison, NY 10528
      View Details
    • Value Estimation by Request
      2,724 SF

      470 Mamaroneck Ave

      NURSERY, GREENHOUSE, FLORIST • 2,724 SF
      470 Mamaroneck Ave, Harrison, NY 10528-1621
      View Details
    • Value Estimation by Request
      0.11 Acres

      222 Harrison Ave

      SHOW ROOM, WAREHOUSE • 0.11 Acres
      222 Harrison Ave, Harrison, NY 10528-4302
      View Details
    • Value Estimation by Request
      0.05 Acres

      251-253 Halstead Ave

      SHOW ROOM, WAREHOUSE • 0.05 Acres
      251-253 Halstead Ave, Harrison, NY 10528
      View Details
    • Value Estimation by Request
      0.28 Acres

      115 Halstead Ave

      SHOW ROOM, WAREHOUSE • 0.28 Acres
      115 Halstead Ave, Harrison, NY 10528-4159
      View Details

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    Harrison, NY 10528
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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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