Mixed-Use
2 - 20 GARTH ROAD
2 Garth Rd, Scarsdale, NY 10583
Listing Price: $6,500,000
Investment Overview
Marcus and Millichap is pleased to present the opportunity to acquire 2·20 Garth Road in Scarsdale (Westchester County), New York, one of the wealthiest suburban communities in the entire country. This is a very rare opportunity to acquire a mixed-use residential/retail property in the Village of Scarsdale. The property consists of a two-story, 11,940-square-foot building, occupied by retail tenants on the ground floor and apartments on the second floor. There are currently four retail tenants (4,900 total square feet), six apartment units (6,655 total square feet) and one storage unit (385 square feet). The current leases are significantly under market, giving the purchaser significant upside potential.
2 - 20 GARTH ROAD
Investment Highlights
- Rare Opportunity to Acquire a Trophy Asset in the Village of Scarsdale, Westchester County, New York
- Prime Corner Location
- Unique Combination of Current Income Stability and Major Upside in Future Development – Excellent Covered Land Opportunity
- Generational Asset – Long Term Hold
- Below Market Unregulated In-Place Rents
- Upside Through Lease Up of 1,000 SF Retail Storefront Tenant
- Corner location is one of the few allowable bank branch locations in the Village
- High Barrier to Entry
Investment Highlights
- Rare Opportunity to Acquire a Trophy Asset in the Village of Scarsdale, Westchester County, New York
- Prime Corner Location
- Unique Combination of Current Income Stability and Major Upside in Future Development – Excellent Covered Land Opportunity
- Generational Asset – Long Term Hold
- Below Market Unregulated In-Place Rents
- Upside Through Lease Up of 1,000 SF Retail Storefront Tenant
- Corner location is one of the few allowable bank branch locations in the Village
- High Barrier to Entry
Investment Overview
Marcus and Millichap is pleased to present the opportunity to acquire 2·20 Garth Road in Scarsdale (Westchester County), New York, one of the wealthiest suburban communities in the entire country. This is a very rare opportunity to acquire a mixed-use residential/retail property in the Village of Scarsdale. The property consists of a two-story, 11,940-square-foot building, occupied by retail tenants on the ground floor and apartments on the second floor. There are currently four retail tenants (4,900 total square feet), six apartment units (6,655 total square feet) and one storage unit (385 square feet). The current leases are significantly under market, giving the purchaser significant upside potential.
