Single-Story Retail Strip Mall with 78-Foot
New
For Sale
$2,300,000
1287 North Ave, New Rochelle, NY 10804
Single-story neighborhood retail strip is 100% occupied by four established tenants with scheduled 3% annual increases.
Property Size4,360 SF
Price / SF$527.52
Days on Market3
Property Features for 1287 North Ave
General Information
Standard status
Active
Size
4,360 SF
Property subtype
Shopping Strip
Occupancy
100%
Additional Details
Cap Rate
6.46%
Amenities
4,360 SF retail strip center located on North Avenue in New Rochelle. The property is 100% occupied with four tenants.
The offering has 78 feet of frontage along North Avenue, providing outstanding exposure to both vehicular and pedestrian traffic.
Opportunity to acquire a stable, single-story retail retail asset in one of Westchester County's most desirable residential areas.
Building Details
Building Size
4,360 SF
Year Built
1925
Stories
1
Tenancy
Multi
Listing Agency:
New York City Office
(212) 430-5229
Listed By:
Scott Plasky · License #License(s): NY: 40PL1176852
(212) 430-5229
Source:
Marcusmillichap
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 30 at 7:15AM
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 New York City Office
Investment Insights
Based on property information with market context.
The offering is a fully occupied neighborhood retail strip featuring approximately 4,360 square feet of single-story retail space. Constructed in 1925, the property includes 78 feet of frontage along North Avenue, supporting strong visibility for both vehicular and pedestrian traffic.
Located at 1287–1291 North Ave in New Rochelle, New York, the retail strip sits within a dominant neighborhood retail trade area. The surrounding corridor includes national and regional retailers such as CVS Pharmacy, Dunkin’, Chase Bank, Acme Markets, Chipotle, and Citizens Bank, along with numerous other daily-needs and neighborhood-serving businesses.
The property is 100% occupied by four established tenants. Each tenant has 3% annual increases, providing scheduled growth over time and limiting near-term rollover exposure tied to tenant transitions.
Located at 1287–1291 North Ave in New Rochelle, New York, the retail strip sits within a dominant neighborhood retail trade area. The surrounding corridor includes national and regional retailers such as CVS Pharmacy, Dunkin’, Chase Bank, Acme Markets, Chipotle, and Citizens Bank, along with numerous other daily-needs and neighborhood-serving businesses.
The property is 100% occupied by four established tenants. Each tenant has 3% annual increases, providing scheduled growth over time and limiting near-term rollover exposure tied to tenant transitions.
Key Highlights
- Approximately 4,360 SF of single‑story neighborhood retail strip
- 78 feet of frontage along North Avenue for visibility to vehicular and pedestrian traffic
- Fully occupied by four established tenants
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $151.7k | $34.80 |
| − Vacancy | −$20.0k | −$4.59 |
| EGI | $131.7k | $30.21 |
| − OpEx | −$39.5k | −$9.06 |
| NOI | $92.2k | $21.14 |
4,360 SF · lease $34.80/SF/yr · vacancy 13.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.32M
$1.15M – $1.54M
NOI $92,190 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
70k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Groceries 31%
Shops & Services 23%
Electronics 2%
ACME Markets
Groceries
21,609 visits/mo
0.1 miles
Starbucks
Dining
17,935 visits/mo
0.1 miles
Chase Bank
Shops & Services
12,994 visits/mo
0.1 miles
Dunkin' Donuts
Dining
9,364 visits/mo
0.1 miles
Sal's Pizza
Dining
2,043 visits/mo
0.1 miles
Demographics for 10804, NY
14,455
Population
5,327
Households
2.7
Avg Household Size
45
Median Age
80%
College-Educated
97%
High-School Grad
4.3 sq mi
ZIP Area
3,362
Density / Sq Mi
$220,089
Median Household Income
$107,563
Median Earnings
$2,114
Median Rent
$894,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Single-story neighborhood retail strip is 100% occupied by four established tenants with scheduled 3% annual increases.
Where is this strip mall located?
The property is located at 1287 North Ave New Rochelle, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Approximately 4,360 SF of single‑story neighborhood retail strip; 78 feet of frontage along North Avenue for visibility to vehicular and pedestrian traffic; Fully occupied by four established tenants
