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    1815 Palmer Ave Unit Larchmont, NY 10538
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    Property profile & analytics

    1815 Palmer Ave Unit, Larchmont, NY 10538

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    • Office Spaces
    • 790 SF
    Off-Market
    Property ID
    US63-4257915
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Rosenblum Edward S DDS / Dental Office
    • Futterman Carol / Physician
    • Barbara F. Pearson, PHD / Physician / Medical Clinic

    Property Details for 1815 Palmer Ave Unit

    Year built
    1940
    Property type
    Office Spaces

    Description

    This exceptional 790-square-foot office space at 1815 Palmer Ave, Unit Suite 1, Larchmont, NY, presents a unique investment opportunity. Ideally situated, this property offers convenient access to public transportation and on-street parking, ensuring easy commutes for clients and staff. The layout is well-designed and functional, featuring a welcoming waiting room, two private offices (one with an adjoining room suitable for use as a playroom or additional office space), and a convenient powder room. The current configuration is well-suited for a variety of professional uses, having previously served as a psychiatrist's office. The asking price is $99,000. Monthly maintenance fees of $854 cover property taxes, heat, and hot water, providing a predictable and manageable operating budget. This turnkey office space requires minimal upfront investment and is ready for immediate occupancy. Its prime location in Larchmont, NY, combined with its functional design and convenient amenities, makes this an attractive proposition for discerning buyers seeking a well-established and easily accessible professional space. The property is situated on a lot with no acreage. This presents a rare opportunity to acquire a well-maintained and conveniently located office space in a desirable area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Larchmont
    County
    Westchester County
    State
    New York
    Longitude
    -73.7555
    Latitude
    40.9356

    Comparable in this City

    • Value Estimation by Request

      2096 Boston Post Rd

      Retail properties & Spaces
      2096 Boston Post Rd, Larchmont, NY 10538
      View Details
    • Value Estimation
      $1,415,000
      9,316 SF

      1415 Boston Post Rd

      OFFICE BUILDING
      1415 Boston Post Rd, Larchmont, NY 10538-3935
      View Details
    • Value Estimation
      $530,000
      3,072 SF

      2053 Palmer Ave

      OFFICE BUILDING
      2053 Palmer Ave, Larchmont, NY 10538-2405
      View Details
    • Value Estimation by Request
      1,470 SF

      2051 Palmer Ave

      OFFICE BUILDING
      2051 Palmer Ave, Larchmont, NY 10538-2405
      View Details
    • Value Estimation
      $4,260,000
      16,652 SF

      1385 Boston Post Rd

      OFFICE BUILDING
      1385 Boston Post Rd, Larchmont, NY 10538-3933
      View Details
    • Value Estimation
      $570,000
      3,489 SF

      1 Madison Ave

      OFFICE BUILDING
      1 Madison Ave, Larchmont, NY 10538-1996
      View Details

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    Similar Nearby for Lease

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      Larchmont Office Space Available

      Well-maintained office space in the heart of Larchmont.
      2039 Palmer Ave, Larchmont, NY 10538
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    • $3,295 /Mo

      Larchmont Office Space Near Station

      Prime office space near Larchmont Village shops and train station.
      2005 Palmer Ave, Larchmont, NY 10538
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    • Contact for pricing
      400 SF

      Upgraded Office Space Available

      Recently upgraded office space with flexible lease terms.
      1890 Palmer Ave, Larchmont, NY 10538
      View Details
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    Larchmont, NY 10538
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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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