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    Renovated Bi-Level Building in Sleepy Hollow Title is generated by Realmo AI

    228 N Washington St, Sleepy Hollow, NY 10591

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    Claim this Listing
    For Sale
    $1,500,000

    Versatile, renovated bi-level building in Sleepy Hollow's vibrant district.

    Type:Commercial
    Property size:
    5,000 SF
    Price / SF:
    $300/SF
    Added:
    Apr 24, 2026
    Days on Market:
    49
    Last Refresh:
    Apr 24 at 8:30 pm

    Property Features for 228 N Washington St

    General Information

    Standard status
    Active
    Size
    5,000 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1950

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    Listing Contact
    Michael L. Rackenberg
    Michael L. Rackenberg

    Listing agent Michael L. Rackenberg

    Listing office HOULIHAN LAWRENCE INC.

    Listing date Apr 24, 2026

    Source Elliman

    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 INC.

    HighLights

    • Prime location in the vibrant river town district of Sleepy Hollow with a 'Very Walkable' score of 90.
    • Completely renovated and in turnkey condition, ready for immediate use.
    • Versatile C2 zoning (Business Office and Commercial) allows for a variety of uses.
    • Spacious 5,000 sq ft building with two levels, each approximately 2,500 sq ft.
    • Features include high ceilings, exposed beams, a stage, a full bar, and a commercial kitchen.
    • Extensive renovations include new ADA‑compliant bathrooms on both levels, updated plumbing and electrical systems, and code‑compliant fire protection.

    Overview

    This completely renovated, versatile, energy-efficient bi-level building is located in the vibrant river town district of Sleepy Hollow. The building features an open floor plan, 12-foot ceilings, and exposed beams. Currently used as a pop-up event space, the zoning is C2 (Business Office and Commercial). The structure is 1 1/2 stories high, with the lower level partially below grade. The building has two levels, each approximately 2,500 square feet. Constructed of steel and concrete, it covers most of the lot, with small open areas to the east (rear), south, and west (front). The upper level features a fully renovated open space measuring around 1,800 square feet, with high ceilings and exposed steel beams. It includes a small stage of 150 square feet, a renovated entry foyer, a large new ADA-compliant bathroom, an office, stairs, and a maintenance room. The lower level has also been fully renovated, containing an event room with a full bar measuring about 1,200 square feet, a new commercial kitchen, an electrical room, stairs, a small storage area, and new ADA-compliant bathrooms for both men and women. Since its acquisition in 2017, the building has undergone extensive investment and restoration. Renovation efforts focused on ensuring code-compliant fire protection for the exit stairs, installing accessible bathrooms on each level, updating existing bathrooms, and replacing plumbing and electrical systems. The exterior of the building was restored, and all areas of this former VFW building, approximately 5,000 square feet, were thoroughly renovated. The walk score is 90, indicating it is very walkable, and the bike score is 39, indicating it is somewhat bikeable.

    Local Financial Insights For Specialty 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 $120.0k $24.00
    − Vacancy −$5.4k −$1.08
    EGI $114.6k $22.92
    − OpEx −$28.7k −$5.73
    NOI $86.0k $17.19
    5,000 SF · lease $24.00/SF/yr · vacancy 4.50% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $1.23M
    $1.07M – $1.43M (±1% cap)
    NOI $85,950 @ 7.0% cap · market cap 5.73%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Retail
    $1.51M
    $1.32M – $1.76M (±1% cap)
    NOI $105,722 @ 7.0% cap · market cap 7.05%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Veterans of Foreign Wars Advocacy Group Café Gol Hotel & Motel Riverside Events Hotel & Motel Alexander C. Rus, ... Consultant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Sleepy Hollow
    County
    Westchester
    State
    New York
    Longitude
    -73.8604515
    Latitude
    41.0843209

    FAQs

    What type of property is this?
    Wedding venue - Versatile, renovated bi-level building in Sleepy Hollow's vibrant district.
    Where is this wedding venue located?
    The property is located at 228 N Washington St Sleepy Hollow, NY.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Prime location in the vibrant river town district of Sleepy Hollow with a 'Very Walkable' score of 90.; Completely renovated and in turnkey condition, ready for immediate use.; Versatile C2 zoning (Business Office and Commercial) allows for a variety of uses.
    More about this property
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