540 State Rd, Briarcliff Manor, NY 10510-1598
- Office buildings
- 0.47 lot acres
Current Use by Public Records
- Bamonte David J / Law Firm
- Dr. Neeta Chitkara, MD / Physician
- Fülano Group / Advertising Agency / Marketing & Advertising
- Hudson Infectious Disease / Medical Clinic
- Lavelle Dennis DC / Alternative Medicine Practice
Property Details for 540 State Rd
- Lot size
- 0.47 lot acres
- Property type
- Office buildings
- APN
- 554289 90.15-2-11
- APU
- 5542899015211
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 23, 2024 | $2,237,500 | 540 North State Road LLC | Kasinathan International Group INC | Bargain & Sale Deed | $238k · Kasinathan International Group INC |
| Mar 13, 2020 | $1,400,000 | Kasinathan International Group INC | Buchanan Realty Corp | Bargain And Sale Deed | — |
Description
This exceptional two-story, 11,800 square foot Class B medical office building in Briarcliff Manor, NY, presents a compelling investment opportunity. Boasting a 95% occupancy rate with six credit-rated tenants, including a property management company, pain management clinic, dental office, and chiropractic services, this stabilized investment property generates a current NOI of $151,720 and a 6.32% cap rate. The pro-forma NOI is projected at $178,720, representing a 7.45% cap rate. The building, situated on a 0.469-acre lot, features 28 parking spaces and underwent extensive renovations between 2021 and 2022, including a new roof, exterior paint, parking lot, drainage system, lobby, and landscaping. All common areas and five of the seven suites have been updated within the last 18 months. The lease type is NNN, and rents include annual 3.5% increases. A significant portion of the first floor (3200+ sq ft) is currently vacant and available for lease starting 4/15/24. The building's prime location in Briarcliff Manor's business district offers easy access to parkways, commuter routes, and public transportation. Owner financing is available. The net rentable square footage is 9,500 square feet, with an asking price of $2,399,000 ($203.31 per square foot).
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,880,000
- ML approach
- $1,930,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Briarcliff Manor
- County
- Westchester
- State
- New York
- Longitude
- -73.821
- Latitude
- 41.1665
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
