EIGMP Realty the owner of the 28-40 Westchester Avenue is pleased to offer 40 Westchester Avenue for rent, previously a hair salon. It’s a 750 sq. ft. ground floor corner storefront with a rear exit to parking lot and access to basement space for storage. Located on a major business corridor within the affluent White Plains, New York. It is located across the luxurious “The Westchester” Mall and next to a scheduled residential project “The Collection” with 276 apartments on 81-100 Westchester Avenue. With traffic flow of 43,171 cars a day in front of the property and with over 200k households with an average income of $143,457 within a 5-mile radius, demographics provide a strong and wealthy local consumer base. The rare combination of visibility, location, high traffic count, convenient access and local demographics make this a huge opportunity for the right entrepreneur.
The Property is located on Westchester Avenue, the premier shopping experience for the New York Metro Area, with over $1/2 billion in retail sales within 1 mile of the subject property. This stretch of Westchester Avenue is home to one of the most heavily developed retail corridors in Westchester County. Several major retailers are located within a walking distance such as The Westchester, New York’s premier luxury mall, Nordstrom’s, Neiman Marcus, Bloomingdales, Macy’s and Sears, in addition to numerous large grocery chains, bank branches, clothing stores and restaurants.
Highlights of the Offering
40 Westchester Avenue offers the opportunity to be a part of a major gentrification within the neighborhood, with over 2000 apartments within a ½ mile radius and over 1 million sq. ft of office space and with over 1000 luxury units proposed to enter the pipeline in the coming years within ¼ mile of the site. The area is also served by many hotels which have come to the area like the Ritz-Carlton, Crowne Plaza, Cambria Suites. The site offers many opportunities to a new tenant.
Highlights of the offering include:
Established Retail Corridor; 40 Westchester Ave is located along the heavily traveled downtown White Plains retail corridor, an area that has historically attracted well-known national retails. Big Box retailers such as Walmart, Container Store, Best Buy are located within close proximity to the property,
High Traffic Count
The average daily traffic on Westchester Avenue near the site is 43,171 cars, providing retailers a robust supply of consumers on a regular basis.
Located across “The Westchester Mall” exit 8 off of I-287, the building is conveniently accessed from the heavily traveled I-287 and Westchester Ave.
Wealthy local consumer base of over 200k households with an average household income of $143,457 within a 5-mile radius of the site. White Plains has a daytime population over ¼ million people.
Socio-Economic Profile of White Plains
Located just 25 miles north of Manhattan at the center of Westchester County where the Cross-Westchester Expressway/Interstate 287 (I-287) intersects with several north-south limited access highways (Bronx River Parkway, Hutchinson River Parkway, and I-684), White Plains is a regional economic center and destination for business, government, transportation, healthcare, and shopping. In addition to the numerous retail outlets, corporate offices, and medical facilities, White Plains is the County seat, and is home to the Westchester County Civic Center.
The White Plains Trans Center is a major hub for both the Metro-North Railroad and the Westchester County Bee-Line bus system. With 20,000 passenger (in and out) trips daily, White Plains, an express stop on the Harlem Line, is a short 35-minute commute via express train to Manhattan, and the second busiest station as a destination stop in the Metro-North Railroad system. In addition, 25,000 bus passenger trips are made through the Trans Center each weekday. The Bee-Line bus system provides service to commuters, as well as for travelers to and from the Westchester County Airport. Other regional transit operators—including Adirondack Trailways and Coach USA—provide express bus service to and from White Plains for intercity passengers with service to Stamford, Boston, Long Island, Ithaca, and Albany.
The City of White Plains has a present population of 57,925, the fastest growing city in New York State according to the US Census Bureau 2016. A compact city, White Plains comprises about 6 percent of the County’s total population, while its land area (9.77 square miles) is only 2 percent of the County total. The City’s overall population density (5,929 persons per square mile) is more than double that of the County (2,240 persons per square mile).
Approximately 2,705 businesses and other employer organizations are located in White Plains. According to the 2007 Economic Census, the total employment in the City of White Plains was 42,567 workers, with the largest industry sectors being health care and social services (23 percent of total employment); retail trade (20 percent); administrative and support services (14 percent); and professional, scientific, and technical services (11 percent). While the City is home to many prominent large corporations and institutions, the average number of employees per establishment is approximately 17 workers, an indicator of the importance of small business in the City as well, and of a healthy and diversified economic base.
Among the industry sectors, the wholesale trade sector had the highest sales ($3.3 billion); followed by retail trade ($2.0 billion); professional, scientific, and technical services ($1.2 billion); and health care ($1.0 billion).
Commercial Office Space
Since 1960, White Plains has evolved into a prominent regional office center which now boasts over 10.8 million square feet of commercial office space. Based on its central location, transportation accessibility, and high quality of life, White Plains is home to many major corporations and government offices and is a center for not-for-profit organizations. Approximately 60 percent of this space is located in the Central Business District, which has an inventory of over 6.3 million square feet of commercial office space.
White Plains is ranked third in the state in annual retail sales volume – retail trade earns more than $2 billion in sales annually. The City boasts an astounding retail sales per capita figure of $35,120 (more than double that of the County and three times that of the State). The City is a leading retail center for Westchester, Putnam, and Rockland Counties, in addition to Fairfield County, Connecticut. The City’s approximately 1,000 retail establishments occupy over 4 million square feet of retail space. Among the leading retailers located in the City are Bloomingdales, Macy’s, Neiman Marcus, Nordstrom, Nordstrom Rack, Target, Sears Roebuck & Company, Burlington Coat Factory and Walmart. The Westchester, a major up-scale mall, contains many high-end retailers with Nordstrom and Neiman Marcus Stores serving as its anchors. The City’s retail market has remained strong, as occupancy rates are high.
Health Care Facilities
There are three major not-for-profit health care institutions in the City – Burke Rehabilitation Hospital, New York Presbyterian Hospital, and White Plains Hospital Center (WPHC). Established in 1952 and located on 65 acres near downtown White Plains, the Burke Rehabilitation Hospital is a 150-bed, multi-service rehabilitation center that serves the region. The New York Presbyterian Hospital’s Westchester Division, located on a 233-acre tract southwest of the central business district, is a 325-bed, voluntary psychiatric institution which also conducts teaching and research programs. WPHC, a 301-bed general hospital, is located on Post Road on the southern side of the central business district.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted to errors and omissions.
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