Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    247 North Ave New Rochelle, NY 10801

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available at the base of a luxury building.

    Property size:
    2,074 SF
    Lot size:
    0.58 Acres

    Property Features for 247 North Ave

    General Information

    Size
    2,074 SF
    Lot size
    0.58 Acres

    We can help!

    Listing Contact
    Brian Von Schmid
    Source: Moodyscre

    Listing Agent: Brian Von Schmid

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail Space in Luxury Building

    This retail space is located at the base of a 307-unit luxury residential building. The property offers 2,074 square feet of space and is suitable for retail use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ricotta April A Car Repair And Maintenance Service Dr. Amitasrigowri Murthy Obstetrician-Gynecologist Dr. Bronwyn Fitz Obstetrician-Gynecologist Meera Shah Family Practice Physician Tania Fils-Aime Midwife

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Rochelle
    County
    Westchester
    State
    New York
    Longitude
    -73.7813606
    Latitude
    40.9113412

    Nearby Similar for Lease

    • $1,500 /Mo

      Bright Office Space in Pelham

      Restored office building near train; 25 minutes to NYC.
      87 Wolfs Ln, Pelham, NY 10803
      View Details
    • $2,400 /Mo
      400 SF

      Downtown Pelham Retail Space Available

      Retail space in downtown Pelham with high foot traffic.
      231 5Th Ave, Pelham, NY 10803
      View Details
    • Contact for pricing
      2,785 SF

      New Rochelle Office Building For Rent

      Five-story office building with on-site parking in downtown New Rochelle.
      140 Huguenot St, New Rochelle, NY 10801
      View Details
    • $12,000 /Mo

      Downtown New Rochelle Corner Retail

      Prime corner location suitable for retail, church, or restaurant.
      565 Main St, New Rochelle, NY 10801
      View Details
    • Contact for pricing
      3,000 SF

      Retail Building in Downtown New Rochelle

      Freestanding retail building for lease in prime downtown location.
      90 Huguenot St, New Rochelle, NY 10801
      View Details
    • $1,800 /Mo

      Adaptable Office/Studio/Workspace in Pelham

      Affordable Pelham office/studio space near shops, train, and highways.
      202 Sparks Ave, Pelham, NY 10803
      View Details
    • $2,900 /Mo

      Pelham Two-Bedroom Apartment For Rent

      Comfortable two-bedroom apartment in Pelham, near train and amenities.
      530 Fourth Ave, Pelham, NY 10803
      View Details
    • $2,700 /Mo

      Downtown New Rochelle Flexible Space

      Adaptable commercial space in a growing downtown corridor.
      50 Pine St, New Rochelle, NY 10801
      View Details
    • $12,000 /Mo

      Prime Retail Space in New Rochelle

      Corner retail location in downtown New Rochelle, close to transportation.
      565 Main St, New Rochelle, NY 10801
      View Details
    • $47 SF/Yr

      Retail Suite in Downtown New Rochelle

      624 SF retail suite in a vibrant downtown location.
      38 Westchester Pl, New Rochelle, NY 10801
      View Details
    • Contact for pricing
      1,544 SF

      Pelham Manor Retail Space Available

      Retail space for lease in Pelham Manor, New York.
      843-895 Pelham Pkwy, Pelham Manor, NY 10803
      View Details
    • $18 SF/Yr
      33,000 SF

      Prime New Rochelle Industrial Space

      33,000 SF Manufacturing/Warehouse
      44 Horton Ave, New Rochelle, NY 10801
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available at the base of a luxury building.
    Where is this retail space located?
    The property is located at 247 North Ave New Rochelle, NY.
    What are key features of this property?
    This property features: - Located at the base of a luxury residential building; - Part of a 307-unit complex; - High foot traffic from building residents
    (516) 933-8880
    Request Owner's contact information
    247 North Ave New Rochelle, NY 10801
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    247 North Ave
    New Rochelle, NY 10801
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    247 North Ave New Rochelle, NY 10801
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Brian Von Schmid
    (516) 933-8880
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.