245 Saw Mill River Rd Hawthorne, NY 10532

Property Details for 245 Saw Mill River Rd

Year built

1986

Lot size

0.25 lot acres

Property size

6,000 SF

Property type

Office Properties & Spaces

Property subtype

Office space

Description

This fee-simple, 6,000 square foot office condominium, located at 245 Saw Mill River Rd, Suite 106, Hawthorne, NY 10532, presents a compelling value-add investment opportunity. The Class B property, built in 1986 and situated on a 0.25-acre lot, boasts a 100% occupancy rate with twenty tenants under a gross lease agreement. The current Net Operating Income (NOI) is $120,057, yielding an 8.00% cap rate, with a pro-forma NOI of $122,563 and a pro-forma cap rate of 8.17%. The property features a three-story building with ample parking (115 spaces per 1,000 sq ft), including one dedicated spot per suite. Leases include a 5% annual rent bump. The suite itself is a renovated ground floor space offering 20 private offices, a communal conference room, reception area, pantry, and IT/storage room. Its prime location offers convenient access to major highways (Saw Mill River Parkway, Taconic Parkway, and I-287), public transportation (short drive to Hawthorne and Mount Pleasant Metro North stations), and is adjacent to a new Amazon Fulfillment Center and other prominent businesses, including Audi Hawthorne, Regeneron, The Home Depot, and Westchester Medical Center. The asking price is $1,500,000, translating to $250 per square foot. The property is currently generating significant income and offers strong potential for future growth.

Location Insight

City

Hawthorne

County

Westchester

State

New York

Longitude

-73.8089

Latitude

41.1024