Restaurant with Residential
For Sale
$2,499,000
355 Smith Ridge Road, South Salem, NY 10590
Dining, event, and residential spaces are combined in a restaurant property undergoing a full rebuild.
Property Size4,500 SF
Lot Size2.00 Acres
Price / SF$555.33
Days on Market124
Property Features for 355 Smith Ridge Road
General Information
Standard status
Active
Size
4,500 SF
Lot size
2.00 Acres
Property subtype
Commercial
Restaurant
Commercial Hood
Yes
Patio
Yes
Equipment Included
Yes
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$18,771
Amenities
two-bedroom residential apartment
expanded basement
wine bar
private VIP/Party Room
Building Details
Building Size
4,500 SF
Year Built
2026
Buildings
1
Listing Agency:
Coldwell Banker Realty
(914) 232-7000
Listed By:
Justin Pieragostini · License #10401203604
(914) 447-3396
Source:
Croninreale
Added: Jun 23
Changed: Oct 23
Last Checked: Oct 23 at 9:51AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
The LaVista restaurant property in South Salem is being entirely rebuilt, with completion scheduled for November 2026. Plans include a new kitchen with modern appliances and a hood system, dining areas for 100+ guests, a wine bar, a private event room, and an outdoor dining patio. A two-bedroom apartment is located on the upper floor, and an expanded basement provides storage and operational space.
The property occupies two acres on Smith Ridge Road and includes on-site parking for over 100 vehicles. The sale is presented as a combined offering of the real estate and restaurant business.
The property occupies two acres on Smith Ridge Road and includes on-site parking for over 100 vehicles. The sale is presented as a combined offering of the real estate and restaurant business.
Key Highlights
- Full building rebuild scheduled for completion in November 2026
- Two‑acre restaurant property at 355 Smith Ridge Road
- Dining areas designed to accommodate 100+ guests
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,355
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,547,100
$1.5M
Cap Rate 7%
$1,105,071
$1.1M
Cap Rate 9%
$859,500
$859.5K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$108.0K $24.00/SF
− Vacancy
−$4.9K −$1.08/SF
EGI
$103.1K $22.92/SF
− OpEx
−$25.8K −$5.73/SF
NOI
$77.4K $17.19/SF
Area
Westchester County, NY
Vacancy
4.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,547,100
Cap Rate 7%
$1,105,071
Cap Rate 9%
$859,500
Alternative Uses
Best Use
Specialty Retail
$1.11M
$966.9K – $1.29M
NOI $77,355 @ 7.0% cap · market cap 3.10%
Second Best
Mixed Use
$931.7K
$815.3K – $1.09M
NOI $65,222 @ 7.0% cap · market cap 2.61%
Theoretical Best
Retail
$1.36M
$1.19M – $1.59M
NOI $95,150 @ 7.0% cap · market cap 3.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
102
Businesses Nearby
2k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 100%
Ring's End
Home Improvements & Furnishings
1,694 visits/mo
0.4 miles
Demographics for 10590, NY
6,556
Population
2,820
Households
2.3
Avg Household Size
49
Median Age
69%
College-Educated
99%
High-School Grad
13.3 sq mi
ZIP Area
493
Density / Sq Mi
$198,563
Median Household Income
$76,643
Median Earnings
$2,262
Median Rent
$727,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Dining, event, and residential spaces are combined in a restaurant property undergoing a full rebuild.
Where is this conventional restaurant located?
The property is located at 355 Smith Ridge Road South Salem, NY.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Full building rebuild scheduled for completion in November 2026; Two‑acre restaurant property at 355 Smith Ridge Road; Dining areas designed to accommodate 100+ guests
