Mixed-Use Bar and Apartment
For Sale
Contact for pricing
16 Memorial Highway, New Rochelle, NY 10801
For sale mixed-use property with a bar on the ground floor and a 2-bedroom apartment above.
Property Size3,018 SF
Price / SF$463.88
Days on Market60
Property Features for 16 Memorial Highway
General Information
Standard status
Active
Size
3,018 SF
Property subtype
Retail, Mixed Use
Listing Agency:
Houlihan Lawrence
Listed By:
Mike Rackenberg · License #CT 10401251020
Source:
Crexi
Added: Jun 9
Changed: Jul 10
Last Checked: Aug 7 at 12:57AM
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 Houlihan Lawrence
Investment Insights
Based on property information with market context.
16 Memorial Highway is a mixed-use building featuring a commercial bar space on the first floor and a spacious 2-bedroom residential apartment above. The property is described as well maintained, with extensive capital improvements and completed renovations, including major mechanicals and systems.
Located in the heart of New Rochelle near downtown, Metro-North transportation, major highways, shopping, dining, and waterfront amenities, the building benefits from a convenient, walk-and-drive accessible setting. This positioning supports a live/work or investor strategy tied to both the commercial and residential components.
The configuration is practical for owner-operators who want to run the bar below while receiving rental income from the apartment. For investors, the property provides a two-part income stream within a single asset, combining an established commercial layout with an upstairs residence. Prospective buyers can also consider the benefits of flexibility from having residential space above a neighborhood-oriented hospitality use.
Located in the heart of New Rochelle near downtown, Metro-North transportation, major highways, shopping, dining, and waterfront amenities, the building benefits from a convenient, walk-and-drive accessible setting. This positioning supports a live/work or investor strategy tied to both the commercial and residential components.
The configuration is practical for owner-operators who want to run the bar below while receiving rental income from the apartment. For investors, the property provides a two-part income stream within a single asset, combining an established commercial layout with an upstairs residence. Prospective buyers can also consider the benefits of flexibility from having residential space above a neighborhood-oriented hospitality use.
Key Highlights
- Mixed‑use building with a commercial bar space on the ground floor and a 2‑bedroom apartment above
- Located in the heart of New Rochelle, near downtown and Metro‑North transportation
- Positioned close to major highways, shopping, dining, and waterfront amenities
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
$51,879
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
3.71%
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%
$1,037,580
$1.0M
Cap Rate 7%
$741,129
$741.1K
Cap Rate 9%
$576,433
$576.4K
Market Conditions
NOI Build-Up for 3,018 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
$72.4K $24.00/SF
− Vacancy
−$3.3K −$1.08/SF
EGI
$69.2K $22.92/SF
− OpEx
−$17.3K −$5.73/SF
NOI
$51.9K $17.19/SF
Area
Westchester County, NY
Vacancy
4.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,037,580
Cap Rate 7%
$741,129
Cap Rate 9%
$576,433
Alternative Uses
Best Use
Specialty Retail
$741.1K
$648.5K – $864.7K
NOI $51,879 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$739.5K
$647.1K – $862.7K
NOI $51,764 @ 7.0% cap · market cap 3.70%
Theoretical Best
Retail
$911.6K
$797.7K – $1.06M
NOI $63,814 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,012
Businesses Nearby
201k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Groceries 28%
Shops & Services 25%
Apparel 2%
ShopRite
Groceries
56,657 visits/mo
0.5 miles
McDonald's
Dining
38,369 visits/mo
0.5 miles
Taco Bell
Dining
15,669 visits/mo
0.4 miles
Starbucks
Dining
13,566 visits/mo
0.3 miles
Sunoco
Shops & Services
13,442 visits/mo
0.4 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Town House Kitchen + Drinks — 559 Main St, New Rochelle, NY 10801
- Shooters Bar — 155 North Ave, New Rochelle, NY 10801
- dfrgt444 — 721 Main St, New Rochelle, NY 10801
- Drake Main Cafe & Lounge — 1 Drake Ave, New Rochelle, NY 10805
- sadasdsa — 596 main st, new rochelle, ny 10805
Frequently Asked Questions
What type of property is this?
Bar & Pub - For sale mixed-use property with a bar on the ground floor and a 2-bedroom apartment above.
Where is this bar & pub located?
The property is located at 16 Memorial Highway New Rochelle, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Mixed‑use building with a commercial bar space on the ground floor and a 2‑bedroom apartment above; Located in the heart of New Rochelle, near downtown and Metro‑North transportation; Positioned close to major highways, shopping, dining, and waterfront amenities
