Mixed-Use Building with
New
For Sale
$2,850,000
345 North Avenue, New Rochelle, NY 10801
One-story masonry property with multiple commercial spaces and DB/C-2 zoning in Downtown New Rochelle.
Property Size5,264 SF
Lot Size0.17 Acres
Price / SF$541.41
Days on Market6
Property Features for 345 North Avenue
General Information
Standard status
Active
Size
5,264 SF
Lot size
0.17 Acres
Property subtype
Mixed Use
Zoning
DB/C-2
Additional Details
Gross Income
$180,000
Taxes and HOA fees
Annual Taxes
$34,379
Building Details
Building Size
5,264 SF
Buildings
1
Stories
1
Construction
masonry
Tenancy
Multi
Listing Agency:
Link NY Realty
(646) 321-9428
Listed By:
Valon Nikci · License #10491202180
Source:
Cottiemaxwellrealestate
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 28 at 8:31PM
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 Link NY Realty
Investment Insights
Based on property information with market context.
This one-story masonry mixed-use property contains approximately 5,264 SF of building area, including approximately 4,500 SF of gross leasable area. The layout accommodates multiple commercial occupants, with one storefront currently vacant. Existing rental occupancy provides an in-place income component while leaving space for additional leasing activity.
The property occupies a 0.17-acre (7,405 SF) lot at 345 North Avenue in Downtown New Rochelle. It is governed by Downtown Business (DB/C-2) zoning and sits approximately 0.3 miles from the New Rochelle Metro-North Station, connecting the site with New York City and the surrounding Westchester market.
The property occupies a 0.17-acre (7,405 SF) lot at 345 North Avenue in Downtown New Rochelle. It is governed by Downtown Business (DB/C-2) zoning and sits approximately 0.3 miles from the New Rochelle Metro-North Station, connecting the site with New York City and the surrounding Westchester market.
Key Highlights
- Approximately 5,264 SF of building area with approximately 4,500 SF of gross leasable area
- One‑story masonry building configured for multiple commercial occupants
- One storefront currently vacant for additional leasing activity
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
$111,305
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
3.91%
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%
$2,226,100
$2.2M
Cap Rate 7%
$1,590,071
$1.6M
Cap Rate 9%
$1,236,722
$1.2M
Market Conditions
NOI Build-Up for 5,264 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
$183.2K $34.80/SF
− Vacancy
−$24.2K −$4.59/SF
EGI
$159.0K $30.21/SF
− OpEx
−$47.7K −$9.06/SF
NOI
$111.3K $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%
$2,226,100
Cap Rate 7%
$1,590,071
Cap Rate 9%
$1,236,722
Alternative Uses
Best Use
Retail
$1.59M
$1.39M – $1.86M
NOI $111,305 @ 7.0% cap · market cap 3.91%
Second Best
Mixed Use
$1.09M
$953.7K – $1.27M
NOI $76,295 @ 7.0% cap · market cap 2.68%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,916
Businesses Nearby
215k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Groceries 30%
Dining 26%
Electronics 2%
ShopRite
Groceries
56,657 visits/mo
0.3 miles
Dollar Tree
Shops & Services
32,875 visits/mo
0.2 miles
Taco Bell
Dining
15,669 visits/mo
0.5 miles
Popeyes Louisiana Kitchen
Dining
14,284 visits/mo
0.5 miles
Starbucks
Dining
13,566 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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - One-story masonry property with multiple commercial spaces and DB/C-2 zoning in Downtown New Rochelle.
Where is this mixed-use property located?
The property is located at 345 North Avenue New Rochelle, NY.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Approximately 5,264 SF of building area with approximately 4,500 SF of gross leasable area; One‑story masonry building configured for multiple commercial occupants; One storefront currently vacant for additional leasing activity
