Add Listing
    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

    231 Fifth Ave Pelham, NY 10803

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,400 /Mo

    Storefront in downtown Pelham with high foot traffic.

    Property Features for 231 Fifth Ave

    General Information

    Property type
    Commercial
    Standard status
    Active

    Building Details

    Year built
    1988

    We can help!

    Listing Contact
    Lorei Kwok
    Lorei Kwok
    Source: Elliman

    Listing Agent: Lorei Kwok

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

    Learn more

    Overview

    Downtown Pelham Storefront for Rent

    Located on the main thoroughfare in Downtown Pelham, this storefront is situated next to a luxury apartment complex currently under construction. The property features a ground-level entrance and a large front window, providing excellent street exposure. The location benefits from high foot traffic due to its proximity to the bus, Metro-North, and Pelham schools.
    Location Intelligence

    Current Use by Public Records

    Pelham Learning Center Tutoring Service

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Pelham
    County
    Westchester
    State
    New York
    Longitude
    -73.78042
    Latitude
    40.92603

    Nearby Similar for Lease

    • $2,400 /Mo

      Downtown Pelham Commercial Space Available

      Commercial space in downtown Pelham with high foot traffic.
      231 5Th Ave, Pelham, NY 10803
      View Details
    • $2,400 /Mo

      Downtown Pelham Storefront for Rent

      Storefront in downtown Pelham with high foot traffic.
      231 Fifth Ave, Pelham, NY 10803
      View Details
    • $1,400 /Mo

      Adaptable Office/Studio/Workspace For Lease

      Affordable ±900 SF office/studio/workspace in central Pelham, NY.
      202 Sparks Ave, Pelham, NY 10803
      View Details
    • $2,400 /Mo
      600 SF

      Retail Space in Pelham, NY

      Retail space with street exposure in Pelham, New York.
      225 5Th Ave, Pelham, NY 10803
      View Details
    • $5,100 /Mo

      Versatile Property with Office and Garage

      Office space and heated garage bays, convenient location.
      421 5Th Ave, Pelham, NY 10803
      View Details
    • $5,100 /Mo

      Versatile Spaces with Office and Garage

      Office space, storage, and parking in one convenient location.
      421 Fifth Ave, Pelham, NY 10803
      View Details
    • $4,500 /Mo

      Office and Automotive Space Available

      Versatile spaces with office, storage, and automotive capabilities.
      421 5Th Ave, Pelham, NY 10803
      View Details
    • $4,500 /Mo

      Versatile Commercial Space For Rent

      Office and garage space suitable for various business uses.
      421 Fifth Ave, Pelham, NY 10803
      View Details
    • Contact for pricing
      9,141 SF

      Free-Standing Retail Building For Rent

      Highly visible, column-free building with parking and loading docks.
      5 Canal Rd, Pelham, NY 10803
      View Details
    • $3,100 /Mo
      Pending

      Spacious Pelham Apartment For Rent

      Three-bedroom, one-bathroom apartment in Pelham, NY available for rent.
      226 Fourth Ave, Pelham, NY 10803
      View Details
    • $4,500 /Mo

      Versatile Property with Office and Garage

      Office space and heated garage with parking in Pelham.
      421 Fifth Ave, Pelham, NY 10803
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space on Boston Post

      Retail space available in Pelham, NY on Boston Post.
      4360-4370 Boston Post Rd, Pelham, NY 10803
      View Details

    FAQs

    What type of property is this?
    Storefront property - Storefront in downtown Pelham with high foot traffic.
    Where is this storefront property located?
    The property is located at 231 Fifth Ave Pelham, NY.
    What is the lease rate?
    The lease rate is $2,400 /Mo.
    What are key features of this property?
    This property features: - Located on the main thoroughfare in Downtown Pelham.; - Next to a luxury apartment complex under construction.; - Ground-level entrance with **large front window offering excellent street exposure.**
    (914) 222-1232
    Request Owner's contact information
    231 Fifth Ave Pelham, NY 10803
    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.
    231 Fifth Ave
    Pelham, NY 10803
    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
    231 Fifth Ave Pelham, NY 10803
    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
    Lorei Kwok
    Lorei Kwok
    (914) 222-1232 (914) 337-0900
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!