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

    247 North Ave New Rochelle, NY

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available at the base of a luxury building.

    Type:RETAIL
    Property size:
    2,074 SF
    Lot size:
    0.58 Acres
    Added:
    Jul 31, 2025
    Days on Market:
    245
    Last Refresh:
    Mar 29 at 10:47 pm

    Property Features for 247 North Ave

    General Information

    Standard status
    Active
    Size
    2,074 SF
    Lot size
    0.58 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 247 North Ave Contact us

    We can help!

    Listing Contact
    Brian Von Schmid

    Listing agent Brian Von Schmid

    Listing office RIPCO Real Estate - Long Island

    Listing date Jul 31, 2025

    Source Moodyscre

    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 RIPCO Real Estate - Long Island

    Overview

    Retail Space in Luxury Building

    This retail space is located at the base of a 307-unit luxury residential building. The property offers 2,074 square feet of space and is suitable for retail use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ricotta April A Auto Repair Shop Dr. Amitasrigowri Murthy Physician Dr. Bronwyn Fitz Physician Meera Shah Pediatrician Tania Fils-Aime Midwife

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    New Rochelle
    County
    Westchester
    State
    New York
    Longitude
    -73.7814
    Latitude
    40.9113

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      New Rochelle

      173 Huguenot St, Unit 200, New Rochelle, NY 10801
      View Details
    • Contact for pricing

      Downtown New Rochelle Corner Retail

      Prime corner location suitable for retail, church, or restaurant.
      565 Main St, New Rochelle, NY, 10801-7214
      View Details
    • Contact for pricing

      Renovated New Rochelle Residence

      Renovated first-floor residence with parking and private backyard.
      92 Washington Ave Floor 1, New Rochelle, NY 10801
      View Details
    • Contact for pricing

      Well-Lit Apartment with Eat-In Kitchen

      Two-bedroom apartment with parking, backyard, and included heat.
      265 Mayflower Ave 1, New Rochelle, NY 10801
      View Details
    • Contact for pricing

      Spacious First-Floor Rental Available

      Bright 2-bedroom rental near transportation and amenities.
      274 Lockwood Ave First floor, New Rochelle, NY 10801
      View Details
    • $25/mo

      Retail Space in New Rochelle

      Retail space available for lease in New Rochelle, NY.
      26 Division St, New Rochelle, NY
      View Details
    • $47/mo

      Retail Suite in Downtown New Rochelle

      624 SF retail suite in a vibrant downtown location.
      38 Westchester Pl, New Rochelle, NY, 10801-7217
      View Details
    • $45/mo

      Retail Space with Ample Parking

      11,500 SF retail space with on-site parking available.
      14 Weyman Ave, New Rochelle, NY
      View Details
    • $22/mo

      New Rochelle Office Space Available

      Office space available for lease in New Rochelle, NY.
      28 Potter Ave, New Rochelle, NY
      View Details
    • $20/mo

      Prime Commercial Space Available

      7,800 SF rentable space with high visibility and ample parking.
      520 N Ave, New Rochelle, NY
      View Details
    • Contact for pricing

      Renovated Retail Space with Parking

      Newly renovated retail space available for rent with on-site parking.
      111 Pelham Rd, New Rochelle, NY
      View Details
    • Contact for pricing

      New Rochelle Office Space Available

      Office space for rent with convenient amenities and access.
      145 Huguenot St, New Rochelle, NY
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available at the base of a luxury building.
    Where is this retail space located?
    The property is located at 247 North Ave New Rochelle, NY.
    What are key features of this property?
    This property features: Located at the base of a luxury residential building; Part of a 307‑unit complex; High foot traffic from building residents
    (516) 933-8880
    We can help!
    Listing Contact
    Brian Von Schmid
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!