One-Story Mixed-Use Retail
New
For Sale
$2,850,000
345 North Avenue, New Rochelle, NY 10801
Commercial Sale, New Rochelle, NY
Property Size5,264 SF
Lot Size0.17 Acres
Price / SF$541.41
Days on Market1
Property Features for 345 North Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Basement
Full
Elementary school district
New Rochelle
Middle school district
New Rochelle
High school district
New Rochelle
Standard status
Active
APN
1000-000-003-00802-000-0011
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
34379
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Listing Agency:
Link NY Realty
(646) 827-2256
Listed By:
Valon Nikci · License #10491202180
(646) 321-9428
Added: Aug 24
Last Checked: Aug 24 at 7:06PM
MLS# 1042420
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 345 North Avenue, this one-story masonry mixed-use property contains approximately 5,264 square feet of building area, including approximately 4,500 square feet of gross leasable area. The layout accommodates multiple commercial occupants and includes a basement, forced-air heating, central air conditioning, public water, and public sewer. One storefront is vacant, while the property continues to generate rental income from occupied space.
The 0.1721-acre parcel is within New Rochelle’s Downtown Business (DB/C-2) zoning district. The property is positioned 0.3 miles from the New Rochelle Metro-North Station, connecting the site with New York City and the broader Westchester County market. Its North Avenue location places the building within Downtown New Rochelle.
The 0.1721-acre parcel is within New Rochelle’s Downtown Business (DB/C-2) zoning district. The property is positioned 0.3 miles from the New Rochelle Metro-North Station, connecting the site with New York City and the broader Westchester County market. Its North Avenue location places the building within Downtown New Rochelle.
Key Highlights
- Approximately 5,264 SF building with approximately 4,500 SF of gross leasable area
- 0.1721‑acre lot in New Rochelle’s Downtown Business (DB/C‑2) zoning district
- One‑story masonry building configured for multiple commercial occupants
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 - Masonry construction with multiple commercial occupants, a vacant storefront, and downtown business zoning supports flexible use.
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 building with approximately 4,500 SF of gross leasable area; 0.1721‑acre lot in New Rochelle’s Downtown Business (DB/C‑2) zoning district; One‑story masonry building configured for multiple commercial occupants
