Hastings-on-Hudson Retail for Sale - Southwest
Positioned in the heart of the highly sought-after Rivertowns market of Westchester County, 595 Warburton Avenue presents a rare opportunity to acquire a ±29,506 square foot commercial building with strong in-place functionality, exceptional flexibility, and long-term upside in one of the most supply-constrained suburban markets surrounding New York City. Situated on approximately ±0.33 acres spanning three tax parcels, the property occupies a strategic downtown location with frontage along both Warburton Avenue and Maple Avenue, offering excellent accessibility, visibility, and proximity to the Hastings-on-Hudson Metro-North train station, the Hudson River waterfront, and the surrounding affluent residential neighborhoods.
The property is currently configured as a retail and automotive facility and consists of a semi-attached two-story masonry and steel structure containing approximately ±29,506 square feet of gross building area, including a fully functional lower level with drive-out access. Originally constructed circa 1910, the building has been maintained in average overall condition with no significant deferred maintenance noted during the appraisal inspection. The asset features multiple drive-in doors, including one oversized overhead door with approximately 14-foot clear height and additional 10-foot clear overhead doors, making the building exceptionally versatile for a wide range of commercial and industrial applications.
The current layout includes retail frontage, office space, automotive service areas, storage, and a unique ramp system connecting multiple levels of the building, creating functionality rarely found within downtown Westchester locations. The second floor is currently utilized for storage and vehicle-related operations, while the lower level provides additional repair and warehouse capability. The property also benefits from approximately 15 on-site parking spaces along with a separately deeded parking lot located directly across the street on Villard Avenue.
From an investment standpoint, the highest and best use of the property is as a stabilized income-producing commercial asset requiring minimal capital expenditure to achieve strong cash flow. Based on a projected blended lease rate of approximately $18.00 per square foot modified gross, the building has the ability to generate in excess of $531,000 in annual gross income. After accounting for real estate taxes of approximately $60,223 and standard landlord obligations associated with a modified gross structure, the property is projected to support a stabilized net operating income in the range of approximately $415,000 to $420,000 annually. This positions the asset as a compelling cap rate investment in a market where functional commercial inventory remains extremely limited. Unlike many redevelopment opportunities requiring extensive construction, entitlement work, or tenant displacement, this property offers immediate usability and income generation with significantly reduced execution risk.
The building’s adaptability also creates substantial owner-user appeal, particularly for automotive operators, contractors, specialty trades, storage users, light industrial businesses, creative flex operators, hospitality, fitness concepts, and experiential retail users seeking a highly visible location within an affluent Westchester market. In today’s environment, owner-users continue to aggressively pursue opportunities where they can control occupancy costs, build long-term equity, and secure irreplaceable real estate within supply-constrained communities. The building’s configuration, access, parking, and multiple floorplates make it particularly attractive for businesses that require operational flexibility while maintaining a retail presence.
Beyond the immediate investment and owner-user opportunity, the property also offers long-term adaptive reuse and redevelopment optionality. The appraisal identifies the site’s future mixed-use potential due to its commercial zoning and location within the downtown corridor. While redevelopment is not necessary to justify today’s valuation, future residential or mixed-use conversion remains a compelling long-term consideration given the strength of the surrounding market and increasing demand for transit-oriented housing throughout the Rivertowns.
Hastings-on-Hudson continues to rank among the most desirable suburban communities in the New York metropolitan area due to its direct Metro-North access, walkability, affluent demographics, Hudson River setting, and proximity to Manhattan. According to the appraisal’s market analysis, the Village of Hastings-on-Hudson has a population of approximately 8,590 residents with a median household income approaching $140,000 and per capita income exceeding $79,000 annually. Westchester County overall maintains one of the highest household income levels in the United States and continues to attract both residents and businesses seeking proximity to New York City combined with suburban quality of life.
The surrounding area is characterized by a dynamic mix of residential, retail, restaurant, office, and recreational uses. Nearby points of interest include the Hastings-on-Hudson Metro-North Station, MacEachron Waterfront Park, the Hudson River waterfront, downtown Hastings retail and dining corridor, the Saw Mill River Parkway, Route 9/Broadway, and neighboring affluent Rivertown communities including Dobbs Ferry, Irvington, and Ardsley. The property benefits from both local neighborhood traffic and regional accessibility, making it well positioned for a wide variety of commercial uses.
Additionally, the broader Greenburgh retail market continues to exhibit strong fundamentals, with retail vacancy reported at approximately 2.2%, reflecting limited availability and healthy tenant demand throughout the corridor. The combination of affluent demographics, low vacancy, strong commuter infrastructure, and limited commercial inventory has continued to support investor and tenant demand throughout lower Westchester County.
595 Warburton Avenue ultimately represents a unique opportunity to acquire a highly functional, income-producing asset with exceptional flexibility in one of Westchester County’s premier suburban markets. Whether viewed as a stabilized cap rate investment, owner-user headquarters opportunity, or long-term adaptive reuse play, the property offers a combination of scale, location, and utility that is increasingly difficult to replicate throughout the New York metropolitan area.
