Retail Storefront with Adjacent
For Sale
Contact for pricing
292 FIFTH AVE, New Rochelle, NY 10803
Owner-occupied storefront building includes an adjacent vacant residential lot in New Rochelle.
Property Size1,100 SF
Lot Size0.20 Acres
Price / SF$499.09
Days on Market26
Property Features for 292 FIFTH AVE
General Information
Standard status
Active
Size
1,100 SF
Lot size
0.20 Acres
Property subtype
Retail, Multifamily, Land
Zoning
R-2
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Building Details
Year Built
1956
Buildings
1
Units
1
Listing Agency:
The Agency
(914) 262-2598
Listed By:
Bryan Lanza · License #NY 10401287317
Source:
Crexi
Added: Jul 15
Changed: Aug 8
Last Checked: Jul 19 at 2:03AM
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 The Agency
Investment Insights
Based on property information with market context.
The offering includes a two-parcel assemblage featuring a commercial storefront building at 292 Fifth Avenue together with an adjacent vacant residential lot. The existing building is approximately 1,100 square feet and is currently owner-occupied by a long-established carpet cleaning business.
The property benefits from a pre-existing non-conforming commercial use that is described as grandfathered and within an R-2 Residential zoning district, with the non-conforming designation transferring with ownership subject to applicable municipal regulations. The adjacent vacant parcel totals approximately 5,861 square feet and provides additional flexibility for future possibilities subject to municipal approvals and zoning requirements.
This assemblage is presented for sale as a unique owner-user or investment opportunity where existing commercial utility is paired with an adjacent undeveloped lot, within a neighborhood where new commercial construction is noted as no longer permitted under current zoning.
The property benefits from a pre-existing non-conforming commercial use that is described as grandfathered and within an R-2 Residential zoning district, with the non-conforming designation transferring with ownership subject to applicable municipal regulations. The adjacent vacant parcel totals approximately 5,861 square feet and provides additional flexibility for future possibilities subject to municipal approvals and zoning requirements.
This assemblage is presented for sale as a unique owner-user or investment opportunity where existing commercial utility is paired with an adjacent undeveloped lot, within a neighborhood where new commercial construction is noted as no longer permitted under current zoning.
Key Highlights
- Two‑parcel assemblage in New Rochelle’s Congress Park neighborhood totaling approx. 8,495 SF
- 1,100‑SF owner‑occupied storefront (built 1956) currently used by a long‑established carpet cleaning business
- Pre‑existing non‑conforming commercial use allowed within an R‑2 Residential zoning district; designation transfers with ownership subject to municipal regulations
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
$23,259
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
4.24%
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%
$465,180
$465.2K
Cap Rate 7%
$332,271
$332.3K
Cap Rate 9%
$258,433
$258.4K
Market Conditions
NOI Build-Up for 1,100 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
$38.3K $34.80/SF
− Vacancy
−$5.1K −$4.59/SF
EGI
$33.2K $30.21/SF
− OpEx
−$10.0K −$9.06/SF
NOI
$23.3K $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%
$465,180
Cap Rate 7%
$332,271
Cap Rate 9%
$258,433
Alternative Uses
Best Use
Retail
$332.3K
$290.7K – $387.7K
NOI $23,259 @ 7.0% cap · market cap 4.24%
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
48k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Dining 17%
Electronics 7%
Mobil
Shops & Services
12,732 visits/mo
0.2 miles
TD Bank
Shops & Services
8,802 visits/mo
0.1 miles
Dunkin' Donuts
Dining
8,319 visits/mo
0.2 miles
BP
Shops & Services
5,508 visits/mo
0.3 miles
Chase Bank
Shops & Services
5,451 visits/mo
0.4 miles
Demographics for 10803, NY
13,255
Population
4,360
Households
3
Avg Household Size
40
Median Age
74%
College-Educated
97%
High-School Grad
2.2 sq mi
ZIP Area
6,025
Density / Sq Mi
$212,288
Median Household Income
$97,447
Median Earnings
$2,242
Median Rent
$961,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Owner-occupied storefront building includes an adjacent vacant residential lot in New Rochelle.
Where is this storefront property located?
The property is located at 292 FIFTH AVE New Rochelle, NY.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Two‑parcel assemblage in New Rochelle’s Congress Park neighborhood totaling approx. 8,495 SF; 1,100‑SF owner‑occupied storefront (built 1956) currently used by a long‑established carpet cleaning business; Pre‑existing non‑conforming commercial use allowed within an R‑2 Residential zoning district; designation transfers with ownership subject to municipal regulations
