466 Ashford AveArdsley, NY 10502

Property Details for 466 Ashford Ave

Lot size

0.07 AC

Property type

Investment properties

Property subtype

Live-work space

APN

552601 6.50-18-3

APU

552601650183

Description

This fee-simple, two-story retail storefront at 466 Ashford Avenue in Ardsley, NY, offers a compelling investment opportunity. The 3,200 square foot building, constructed in 1927, sits on a 0.07-acre lot and boasts a strategic location at the signalized intersection of Ashford Avenue and Saw Mill River Road (NY Route 9A), within Ardsley's thriving commercial district. Currently 46% occupied, the property features two units: a 1,350 square foot ground floor space leased to a popular nail salon with a built-in 3% annual rent increase, and a 1,600 square foot vacant second floor offering significant lease-up potential. The building also includes a 1,350 square foot basement and recently completed renovations, including a rear deck improvement, new siding and windows. The property benefits from high daily traffic counts (approximately 30,400 vehicles at the adjacent intersection and visibility from I-87, with over 98,000 vehicles daily), a strong demographic profile (78,400 people within 3 miles, average household income $247,933), and convenient access to public transportation, including five bus lines and proximity to Metro North train stations. This property presents a rare chance to acquire a well-located retail building with substantial upside potential in a desirable Westchester County location. The first floor also includes 100 square feet of common area and a 150 square foot kitchen. The asking price is $705,250.

• CAP approach

  CAP return

  Valuation

  6%

  $504,091

  6.5%

  $465,315

  7%

  $432,078

• Comparable approach

  Method

  Valuation

  Relative Method

  $398,382

  Geo Method

  $398,382

• Alternative Use

  Use

  Valuation

  Residential

  $576,990

  Hospitality

  $528,520

  Educational

  $439,722

  Medical

  $454,845

  Retail

  $684,012

Location Insight

City

Ardsley

County

Westchester

State

New York

Latitude

41.0122

Longitude

-73.8488

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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