540 State RdBriarcliff Manor, NY 10510

Property Details for 540 State Rd

Lot size

0.47 AC

Property type

Office buildings

APN

554289 90.15-2-11

APU

5542899015211

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).

• CAP approach

  CAP return

  Valuation

  6%

  $3,384,798

  6.5%

  $3,124,429

  7%

  $2,901,256

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,675,002

  Geo Method

  $2,675,002

• Alternative Use

  Use

  Valuation

  Residential

  $3,874,292

  Hospitality

  $3,548,831

  Educational

  $2,952,586

  Medical

  $3,054,130

  Retail

  $4,592,911

Location Insight

City

Briarcliff Manor

County

Westchester

State

New York

Latitude

41.1665

Longitude

-73.821

CBSA code

35620

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].