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    2500 Westchester Ave Purchase, NY 10577
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    2500 Westchester Ave Purchase, NY 10577

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    • Office buildings
    • 3,791 SF
    • 24.62 lot acres
    For Lease
    $615,000
    View Listing →
    Renovated Office Space in Purchase For Lease
    $615,000
    19,183 SF

    Renovated Office Space in Purchase

    Modern office space with amenities and convenient transportation access.

    2500 Westchester Avenue, Purchase, NY 10577
    View Listing
    Property ID
    US63-2237213
    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

    • A. Mac Asbestos Removal Inc Westchester / Construction Company / Renovation Specialist
    • The Law Offices of Gregory J. Tembeck, PC / Law Firm
    • Isuzu Finance of America / Bank / Credit Union
    • La Gumina Law Firm PLLC / Law Firm
    • Perry Dean Freedman / Law Firm

    Property Details for 2500 Westchester Ave

    Lot size
    24.62 lot acres
    Property size
    3,791 SF
    Property type
    Office buildings
    APN
    552801 0611.-3
    APU
    55280106113

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $601,000
      Market price range: $91.4k - $614k

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

    Location Insight

    • Map
    • Local Demand
    City
    Purchase
    County
    Westchester
    State
    New York
    Longitude
    -73.6968
    Latitude
    41.0119
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $0.00
    $246,200
    $328,800
    $575,000
    -
    $21,042,735
    $28,102,564
    $49,145,299

    Comparable in this City

    • Value Estimation by Request
      3,814 SF

      Westchester Ave

      OFFICE BUILDING • 3,814 SF
      Westchester Ave, Purchase, NY 10577
      View Details
    • Value Estimation
      $740,000
      4,681 SF

      12 Manhattanville Rd

      OFFICE BUILDING • 4,681 SF
      12 Manhattanville Rd, Purchase, NY 10577-2107
      View Details
    • Value Estimation
      $9,555,000
      3,477 SF

      2975 Westchester Ave

      OFFICE BUILDING • 3,477 SF
      2975 Westchester Ave, Purchase, NY 10577-2518
      View Details
    • Value Estimation
      $505,000
      3,876 SF

      3010 Westchester Ave

      OFFICE BUILDING • 3,876 SF
      3010 Westchester Ave, Purchase, NY 10577-2535
      View Details
    • Value Estimation by Request
      12.06 Acres

      24 Anderson Hl Rd

      OFFICE BUILDING • 12.06 Acres
      24 Anderson Hl Rd, Purchase, NY 10577-2002
      View Details
    • Value Estimation by Request
      35.00 Acres

      100 Manhattanville Rd

      OFFICE BUILDING • 35.00 Acres
      100 Manhattanville Rd, Purchase, NY 10577-2134
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,886 SF

      Class A Corporate Campus

      Office complex with amenities and easy access in Westchester County.
      1-4 Manhattanville Rd, Purchase, NY 10577
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      Class A Office Building

      Four-story commercial office building near I-287 and Metro-North.
      2975 Westchester Ave, Harrison, NY 10577
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      3,149 SF

      Two-Story Office Building For Rent

      30,000 SF office building in Harrison Executive Park.
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      Versatile Workspace Solutions Available

      Global network of workspaces with flexible options for rent.
      1 Manhattanville Rd, Harrison, NY 10577
      View Details
    • Contact for pricing
      19,183 SF

      Renovated Office Space in Purchase

      Modern office space with amenities and convenient transportation access.
      2500 Westchester Ave, Purchase, NY 10577
      View Details
    • Contact for pricing
      14,031 SF

      Corporate Campus Office Space Available

      Office space in a park-like setting with amenities.
      4 Manhattanville Rd, Purchase, NY 10577
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    View Listing
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    Purchase, NY 10577
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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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