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    321 Elwood Ave Hawthorne, NY 10532
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    Property profile & analytics

    321 Elwood Ave Hawthorne, NY 10532

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    • Investment properties
    • 5,000 SF
    • 0.11 lot acres
    For Lease
    $2,200/Mo
    View Listing →
    Hawthorne Retail/Office Space Available For Lease
    $2,200/Mo

    Hawthorne Retail/Office Space Available

    Storefront retail or office space in bustling Mount Pleasant.

    321 Elwood Avenue, Hawthorne, NY 10532
    View Listing
    Property ID
    US63-0900277
    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

    • Hawthorne's Finest Barbershop / Barber Shop
    • AMM Engineering / Engineering Consultant
    • Denny’s Buffet / Restaurant
    • LLU Citi Nails / Nail Salon
    • Empire / Restaurant

    Property Details for 321 Elwood Ave

    Year built
    1988
    Lot size
    0.11 lot acres
    Property size
    5,000 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    553489 112.9-3-25
    APU
    5534891129325

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,210,000
      6.5%
      $1,115,000
      7%
      $1,035,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,100,000
      Market price range: $520k - $1.10M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,775,000
      Current use
      WAREHOUSE, STORAGE
      $1,815,000
      Change: +2% Conversion: Difficult
      OFFICE BUILDING
      $1,755,000
      Change: -1% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hawthorne
    County
    Westchester
    State
    New York
    Longitude
    -73.7955
    Latitude
    41.1066
    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
    $3,650
    $15,350
    $19,000
    -
    $323,009
    $1,358,407
    $1,681,416

    Comparable in this City

    • Value Estimation by Request
      0.06 Acres

      526 Commerce St

      STORE/OFFICE (MIXED USE) • 0.06 Acres
      526 Commerce St, Hawthorne, NY 10532-1361
      View Details
    • Value Estimation by Request
      0.15 Acres

      436 Commerce St

      STORE/OFFICE (MIXED USE) • 0.15 Acres
      436 Commerce St, Hawthorne, NY 10532-1225
      View Details
    • Value Estimation by Request
      2,160 SF

      352-354 Elwood Ave

      STORE/OFFICE (MIXED USE) • 2,160 SF
      352-354 Elwood Ave, Hawthorne, NY 10532
      View Details
    • Value Estimation
      $2,050,000
      14,000 SF

      157 Brady Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 14,000 SF
      157 Brady Ave, Hawthorne, NY 10532-2201
      View Details
    • Value Estimation
      $1,550,000
      2,053 SF

      450 Commerce St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,053 SF
      450 Commerce St, Hawthorne, NY 10532-1372
      View Details
    • Value Estimation by Request
      1.00 Acre

      8 Saw Mill River Rd

      Land • 1.00 Acre
      8 Saw Mill River Rd, Hawthorne, NY 10532
      View Details

    Similar Nearby for Sale

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      Pending

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      Mixed-use property with parking, accessible to parkways and MetroNorth.
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      New 16-unit apartment complex in Mount Pleasant, NY.
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      Vacant lot with potential for builders, investors, or buyers.
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      New 16-Unit Apartment Complex

      New 16-unit apartment complex in Mount Pleasant, NY.
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      Commercial Development Site For Sale

      Commercial development site available for sale with build-to-suit options.
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      View Details
    • $11,500,000
      37,230 SF

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      16 unit Apartment Complex - Liberty Plaza
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    Similar Nearby for Lease

    • Contact for pricing

      Hawthorne Commercial Space For Lease

      Commercial space available for lease in Hawthorne, New York.
      200 Saw Mill River Rd, Hawthorne, NY 10532
      View Details
    • $20 SF/Yr

      Modern Office Space Available

      Updated office space with modern design, versatile floor plan, and amenities.
      245 Saw Ml Riv Rd #301, Hawthorne, NY 10532
      View Details
    • $20 SF/Yr

      Modern Office Space Available

      Updated office space with modern design and convenient location.
      245 Saw Ml Riv Rd #301, Hawthorne, NY 10532
      View Details
    • Contact for pricing
      147 SF

      Therapist Office Space Available

      Therapist office space for lease in Hawthorne, NY.
      40 Saw Mill River Rd, Hawthorne, NY 10532
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    • Contact for pricing

      Office Space Available For Lease

      Office space for lease at 22 Saw Mill River Rd.
      22 Saw Mill River Rd, Hawthorne, NY 10532
      View Details
    View Listing
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    321 Elwood Ave
    Hawthorne, NY 10532
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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.

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