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    Midway Shopping Ctr Scarsdale, NY 10583
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    Midway Shopping Ctr Scarsdale, NY 10583

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    • Lifestyle centers
    • 244,302 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 0 Midway Shopping Ctr

    Property size
    244,302 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional retail opportunity presents itself at the Midway Shopping Center, located on the highly desirable Central Park Avenue retail corridor in Scarsdale, New York, just north of Ardsley Road. The shopping center boasts a total of 244,302 square feet, offering a diverse range of spaces to suit various business needs. Currently, there are four suites available, with sizes ranging from a minimum of 550 square feet to a maximum contiguous space of 8,065 square feet. This flexibility allows for businesses of all scales to find a suitable location within this thriving commercial center. A significant 14,408 square feet is currently vacant, presenting a unique chance for expansion or new tenancy. The property is situated in Westchester County, New York, with a convenient zip code of 10583. This prime location offers excellent visibility and accessibility, ensuring high foot traffic and strong potential for business success. The Midway Shopping Center provides a compelling investment opportunity in a vibrant and affluent community. The available spaces are ideal for a variety of retail uses, offering a chance to establish or expand a business in a highly sought-after area. The property's size and layout provide ample room for customization and adaptation to individual business requirements.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Scarsdale
    County
    Westchester
    State
    New York
    Longitude
    -73.8228
    Latitude
    40.9915

    Comparable in this City

    • Value Estimation by Request
      62,618 SF

      693 White Pln Rd

      Neighborhood centers • 62,618 SF
      693 White Pln Rd, Scarsdale, NY 10583
      View Details
    • Value Estimation
      $505,000
      11,000 SF

      870 Central Park Ave

      MINI-MALL • 11,000 SF
      870 Central Park Ave, Scarsdale, NY 10583-2541
      View Details
    • Value Estimation by Request
      1.06 Acres

      580 Central Park Ave, Unit 590

      SHOPPING CENTER, STRIP CENTER • 1.06 Acres
      580 Central Park Ave, Scarsdale, NY 10583-1555
      View Details
    • Value Estimation by Request
      13.22 Acres

      913 Central Park Ave, Unit 999

      SHOPPING CENTER, STRIP CENTER • 13.22 Acres
      913 Central Park Ave, Scarsdale, NY 10583-3211
      View Details
    • Value Estimation
      $1,110,000
      21,191 SF

      423 Central Park Ave

      SHOPPING CENTER, STRIP CENTER • 21,191 SF
      423 Central Park Ave, Scarsdale, NY 10583-1016
      View Details
    • Value Estimation
      $595,000
      13,170 SF

      1128 Wilmot Rd, Unit 44

      SHOPPING CENTER, STRIP CENTER • 13,170 SF
      1128 Wilmot Rd, Scarsdale, NY 10583-6855
      View Details

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    Similar Nearby for Lease

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      17,507 SF

      Yonkers Retail Space For Lease

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      Yonkers Gateway Center Retail Space

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      Yonkers Retail Space For Rent

      145,703 SF shopping center with high visibility.
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      Scarsdale Retail and Office Space

      Three-story building with retail and office space available for rent.
      495 Central Park Ave, Scarsdale, NY 10583
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    • Contact for pricing
      20,500 SF

      Yonkers Retail Space Available

      Retail space in Yonkers with high ceilings available for rent.
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      View Details
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    Scarsdale, NY 10583
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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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