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    91 Lake Ave Eastchester, NY 10707
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    Property profile & analytics

    91 Lake Ave Eastchester, NY 10707

    View on Map
    • Commercial real estate
    • 8,722 SF
    • 0.10 lot acres
    For Lease
    $25 SF/Yr
    View Listing →
    Two-Story Brick Building in Tuckahoe For Lease
    $25 SF/Yr
    8,742 SF

    Two-Story Brick Building in Tuckahoe

    Two-story, 8,742 SF commercial building near Tuckahoe Metro-North Railroad.

    91 Lake Avenue, Eastchester, NY 10707
    View Listing
    Property ID
    US63-1369719
    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
    $1,255,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 91 Lake Ave

    Lot size
    0.10 lot acres
    Property size
    8,722 SF
    Property type
    Commercial real estate
    APN
    552403 32./4/10
    APU
    55240332410

    Description

    This exceptional two-story commercial building, located at 91 Lake Avenue in Tuckahoe, NY 10707, offers 8,742 square feet of versatile space, divisible to 4,371 square feet. The property boasts a prime downtown location, steps from Metro North, providing easy access to major roadways including the Bronx River, Hutchinson River, and Cross County Parkways. The building features 14 parking spaces and is fully sprinklered. The first floor offers beautifully built-out space, including private offices, two bathrooms, and a kitchenette, suitable for various uses such as medical, daycare, or adult care facilities. The second floor provides a large open loft area ideal for uses like a gym, martial arts studio, or art school. The building features high ceilings (10-14 feet), exposed brick walls, and ample 3-phase electrical power (800 amps). The property sits on two lots totaling 8,346 square feet, with a separate parking lot of approximately 4,000 square feet. The building is zoned for business use and presents a unique opportunity for a variety of commercial ventures. The entire 8,742 square feet is currently vacant. The property's Class C designation reflects its potential for renovation and customization to meet specific tenant needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,255,000
      ML approach
      $1,255,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,678,000
      Market price range: $1.68M - $3.60M
      AI Estimate
      $802,000
      Market price range: $802k - $2.18M

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

    Location Insight

    • Map
    • Local Demand
    City
    Tuckahoe
    County
    Westchester
    State
    New York
    Longitude
    -73.8296
    Latitude
    40.9508
    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
    $13,500
    $350
    $13,850
    -
    $1,184,211
    $30,702
    $1,214,913

    Comparable in this City

    • Value Estimation by Request
      1.90 Acres

      10 Scarsdale Rd

      COMMERCIAL (GENERAL) • 1.90 Acres
      10 Scarsdale Rd, Tuckahoe, NY 10707-3205
      View Details
    • Value Estimation by Request
      0.08 Acres

      109 Lk Ave

      STORE/OFFICE (MIXED USE) • 0.08 Acres
      109 Lk Ave, Tuckahoe, NY 10707-3915
      View Details
    • Value Estimation by Request
      0.06 Acres

      14 Lincoln Cir

      VACANT COMMERCIAL LAND • 0.06 Acres
      14 Lincoln Cir, Yonkers, NY 10707
      View Details
    • Value Estimation by Request
      0.07 Acres

      Main St

      VACANT COMMERCIAL LAND • 0.07 Acres
      Main St, Tuckahoe, NY 10707
      View Details
    • Value Estimation by Request
      0.06 Acres

      Main St

      VACANT COMMERCIAL LAND • 0.06 Acres
      Main St, Tuckahoe, NY 10707
      View Details
    • Value Estimation by Request
      0.12 Acres

      69 Main St

      CHARITABLE ORGANIZATION • 0.12 Acres
      69 Main St, Tuckahoe, NY 10707-2914
      View Details

    Similar Nearby for Sale

    • New
      $1,290,000
      0.08 Acres

      Two-Family Home Near Train Station

      Two-family home near Metro-North, convenient access to NYC.
      396 Columbus Ave, Tuckahoe, NY 10707
      View Details
    • $5,250,000
      Pending

      Commercial Land for Sale

      Commercial land available for sale.
      1 Generoso Pope Pl, Tuckahoe, NY 10707
      View Details
    • New
      $980,000
      0.06 Acres

      Victorian Multi-Family in Tuckahoe

      Renovated two-family home near Tuckahoe train station.
      32 Terrace Pl, Tuckahoe, NY 10707
      View Details

    Similar Nearby for Lease

    • $8,710 /Mo

      New Construction Flex Space Opportunity

      New construction flex space suitable for offices, showroom, storage.
      174 Marbledale Rd, Tuckahoe, NY 10707
      View Details
    • $25 SF/Yr

      Two-Story Brick Building in Tuckahoe

      Two-story, 8,742 SF commercial building near Tuckahoe Metro-North Railroad.
      91 Lake Ave, Eastchester, NY 10707
      View Details
    • Contact for pricing

      Tuckahoe Office Space Available

      Office space available for rent in Tuckahoe, New York.
      69 Main St, Tuckahoe, NY 10707
      View Details
    • Contact for pricing

      Retail Space with Basement

      2,740 SF ground floor retail space plus basement.
      50 Main St, Tuckahoe, NY 10707
      View Details
    View Listing
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    Eastchester, NY 10707
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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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    91 Lake Ave, Eastchester, NY, 10707
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