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    423 Tarrytown Rd White Plains, NY 10607
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    Property profile & analytics

    423 Tarrytown Rd White Plains, NY 10607

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    • Retail properties & Spaces
    • 311,940 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dr Minn .DDS / Dental Office
    • Wow Cleaning / (Bike/Boat/Book/etc) Store
    • Dave's Hot Chicken / Restaurant
    • Crossroads Shopping Center / Shopping Center & Mall
    • Dick'sBagels / (Bike/Boat/Book/etc) Store / Bakery

    Property Details for 423 Tarrytown Rd

    Property size
    311,940 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail opportunity is located at 423 Tarrytown Road in White Plains, NY, within the thriving Crossroads Shopping Center. This center boasts a total of 311,940 square feet and offers a variety of spaces to suit diverse business needs. Currently, there is 8,284 square feet of vacant space available, divisible into units ranging from 2,512 square feet to a maximum contiguous space of 5,772 square feet. The property features ample parking with 1,517 spaces available for customers and employees. Situated in Westchester County, this location benefits from its proximity to major roadways, including I-287 and the Central Avenue retail corridor, ensuring high visibility and accessibility. The Crossroads Shopping Center is a well-established retail destination, anchored by a strong tenant mix including BJ's Wholesale Club, O'Reilly Auto Parts, Stickley Furniture, PGA Tour Superstore, HomeGoods, PetSmart, Five Below, and DSW. This prime location offers significant potential for growth and success within a vibrant retail environment. The property is located just west of downtown White Plains on Route 119 (Tarrytown-White Plains Road), one of the primary retail destinations in Westchester County, and has a zip code of 10607. The property consists of two total building suites.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    White Plains
    County
    Westchester
    State
    New York
    Longitude
    -73.8003
    Latitude
    41.0418

    Comparable in this City

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    • Value Estimation by Request
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      214 Dobbs Fry Rd

      NURSERY, GREENHOUSE, FLORIST • 192 SF
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    • Value Estimation
      $4,830,000
      15,604 SF

      65 Tarrytown Rd

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    • Value Estimation by Request
      0.20 Acres

      235 Tarrytown Rd

      VEHICLE SALES, RENTALS • 0.20 Acres
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    • Value Estimation by Request
      0.43 Acres

      237 Tarrytown Rd, Unit 251

      SHOPPING CENTER, STRIP CENTER • 0.43 Acres
      237 Tarrytown Rd, White Plains, NY 10607-1622
      View Details
    • Value Estimation
      $2,105,000
      22,046 SF

      20 County Ctr Rd

      PARKING LOT • 22,046 SF
      20 County Ctr Rd, White Plains, NY 10607
      View Details

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    White Plains, NY 10607
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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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