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Property profile & analytics
FOR LEASE
Office buildings
2 Madison Ave Larchmont, NY 10538
Entity Owned
21-yr Hold
Free & Clear
Property ID
US63-1461279
For Lease
1 / 2
$7,845,000
2 Madison Ave, Larchmont, NY 10538
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1960
Total area
33,010 SF
Lot
0.4 ac (17,424 SF)
APN
553289 1-33-602
UPID
US63-1461279
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Adrian Hamers Inc Religious Bookstore
-
Clickable Enterprises Inc Big Box & Wholesale Store
-
NRG Heat Power Inc Fuel Supplier Air Conditioning Contractor
-
Noah Suad V PhD Physician Medical Clinic
-
Greg Long - State Farm Insurance Agent Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.30M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.85M
Owner & transaction history
Clock Tower Larchmont Corp · 21 yrs held
Clock Tower Larchmont Corp
since 2004
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$12.0M
+3.5%
Commercial (general)
$11.7M
+1.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Larchmont submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Larchmont submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$8,985,000
6.5%
$8,295,000
7%
$7,705,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$11,590,000
Current use
WAREHOUSE, STORAGE
$12,000,000
Change: +4% · Conversion: Difficult
COMMERCIAL (GENERAL)
$11,720,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$7.85M
Range $7.06M – $8.63M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$238 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Assessed value
$4,300,000
Assessed 2023
Previous assessed
$4,300,000
+0.0% YoY
Assessed land
$740,000
Assessed improvement
$3,560,000
Land market value
$740,000
Improvement market value
$3,560,000
Total market value
$4,300,000
Applied tax rate
553,201.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1960
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
2
Total area
33,010 SF
Lot
0.4 ac (17,424 SF)
APN
553289 1-33-602
UPID
US63-1461279
Jurisdiction
WESTCHESTER
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$11.6M
WAREHOUSE, STORAGE
Est. value
$12.0M
COMMERCIAL (GENERAL)
Est. value
$11.7M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1960
Heating
NONE
Cooling
Yes
Stories
2
Buildings
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
Clock Tower Larchmont Corp
Entity
Free & Clear · 21 yrs held
Mailing address
1875 PALMER AVE, LARCHMONT, NY 10538-3053
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 26, 2004
—
Clock Tower Larchmont Corp
Clock Tower Associates Co LLC
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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