One-Story Flex Building
For Sale
$549,000
292 Fifth Avenue, New Rochelle, NY 10801
Two-lot flex site with an existing one-story building, offering potential storefront, office, or warehouse use.
Property Size1,100 SF
Days on Market41
Property Features for 292 Fifth Avenue
General Information
Standard status
Active
Size
1,100 SF
Total Parking Spaces
2
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$13,695
Building Details
Building Size
1,100 SF
Buildings
1
Stories
1
Listing Agency:
Weichert Realtors
(914) 419-9002
Listed By:
Louis J. Colombo
(914) 419-9002
Source:
Cohenandcohenrealty
Added: Jul 14
Changed: Aug 23
Last Checked: Aug 23 at 5:55AM
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 Weichert Realtors
Investment Insights
Based on property information with market context.
This flex-style commercial property is comprised of two lots totaling 8,500 square feet, with an existing 1,100-square-foot, one-story building. The property is described as a legal commercial opportunity in a residentially zoned neighborhood, and it is presented as flexible for use as a storefront, office, or warehouse.
An adjoining 25' x 104' lot is designated for residential use only. The remarks also indicate that, due to topography, excavation will be required before the adjoining lot can be developed or utilized.
Overall, the site combines a small existing one-story building with a separate residentially designated lot, creating multiple considerations for buyers evaluating how best to use and develop the property within the stated constraints.
An adjoining 25' x 104' lot is designated for residential use only. The remarks also indicate that, due to topography, excavation will be required before the adjoining lot can be developed or utilized.
Overall, the site combines a small existing one-story building with a separate residentially designated lot, creating multiple considerations for buyers evaluating how best to use and develop the property within the stated constraints.
Key Highlights
- Legal commercial property in a residentially zoned neighborhood with a flexible live/work or residential setup potential
- Two lots totaling 8,500 SF with an existing 1,100 SF one‑story building
- Building may be used as a storefront, office, or warehouse
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
$16,857
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
3.07%
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%
$337,140
$337.1K
Cap Rate 7%
$240,814
$240.8K
Cap Rate 9%
$187,300
$187.3K
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
$21.1K $19.20/SF
− Vacancy
−$1.3K −$1.17/SF
EGI
$19.8K $18.03/SF
− OpEx
−$3.0K −$2.70/SF
NOI
$16.9K $15.32/SF
Area
Westchester County, NY
Vacancy
6.10%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
15.00%
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%
$337,140
Cap Rate 7%
$240,814
Cap Rate 9%
$187,300
Alternative Uses
Best Use
Warehouse
$240.8K
$210.7K – $281.0K
NOI $16,857 @ 7.0% cap · market cap 3.07%
Second Best
Flex RnD
$237.3K
$207.6K – $276.9K
NOI $16,611 @ 7.0% cap · market cap 3.03%
Theoretical Best
Retail
$332.3K
$290.7K – $387.7K
NOI $23,259 @ 7.0% cap · market cap 4.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
931
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Italiana Foods — 37 Plain Ave, New Rochelle, NY 10801
Frequently Asked Questions
What type of property is this?
Flex space - Two-lot flex site with an existing one-story building, offering potential storefront, office, or warehouse use.
Where is this flex space located?
The property is located at 292 Fifth Avenue 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: Legal commercial property in a residentially zoned neighborhood with a flexible live/work or residential setup potential; Two lots totaling 8,500 SF with an existing 1,100 SF one‑story building; Building may be used as a storefront, office, or warehouse
