245 Saw Mill River Rd Hawthorne, NY 10532

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.