Versatile Commercial Property Near
For Sale
$2,995,000
Pending
625 North Ave, New Rochelle, NY 10801
Adaptable 7,800 SF commercial space near Iona University.
Property Size7,800 SF
Lot Size0.30 Acres
Days on Market255
Property Features for 625 North Ave
General Information
Standard status
Pending
Size
7,800 SF
Lot size
0.30 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$75,024
Building Details
Building Size
7,800 SF
Year Built
1917
Listing Agency:
Century 21 Marciano
(914) 497-9021
Listed By:
Louise Del Giudice
(914) 497-9021
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Marciano
Investment Insights
Based on property information with market context.
This 0.3-acre commercial property, constructed in 1917, features a brick and stucco exterior and a total area of 7,800 square feet. The property, formerly a pharmacy, offers adaptable interiors with high ceilings, central A/C, and a loading dock. Zoned C-1, it is suitable for a variety of business uses, including retail or office space. The property is located near Iona University, benefiting from high foot traffic and visibility. It is adjacent to a large parking lot, providing convenient access for customers and employees. The property is in need of TLC. Owner financing is possible with a 35% down payment.
Key Highlights
- High‑visibility location near Iona University with constant foot traffic
- Adaptable 7,800 sq ft interior space suitable for various business types
- C‑1 zoning designation allows for diverse commercial ventures
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$164,927
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,298,540
$3.3M
Cap Rate 7%
$2,356,100
$2.4M
Cap Rate 9%
$1,832,522
$1.8M
Market Conditions
NOI Build-Up for 7,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$271.4K $34.80/SF
− Vacancy
−$35.8K −$4.59/SF
EGI
$235.6K $30.21/SF
− OpEx
−$70.7K −$9.06/SF
NOI
$164.9K $21.14/SF
Area
Westchester County, NY
Vacancy
13.20%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,298,540
Cap Rate 7%
$2,356,100
Cap Rate 9%
$1,832,522
Alternative Uses
Best Use
Retail
$2.36M
$2.06M – $2.75M
NOI $164,927 @ 7.0% cap · market cap 5.51%
Second Best
Office B
$1.71M
$1.49M – $1.99M
NOI $119,443 @ 7.0% cap · market cap 3.99%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
956
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10801, NY
42,949
Population
16,912
Households
2.5
Avg Household Size
37
Median Age
43%
College-Educated
85%
High-School Grad
3.4 sq mi
ZIP Area
12,632
Density / Sq Mi
$83,534
Median Household Income
$50,274
Median Earnings
$1,742
Median Rent
$555,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Adaptable 7,800 SF commercial space near Iona University.
Where is this storefront property located?
The property is located at 625 North Ave New Rochelle, NY.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: High‑visibility location near Iona University with constant foot traffic; Adaptable 7,800 sq ft interior space suitable for various business types; C‑1 zoning designation allows for diverse commercial ventures
