Rebuilt Restaurant With
355 Smith Ridge Road, South Salem, NY 10590
For Sale
$2,499,000
Business Opportunity, South Salem, NY
Property Size10,000 SF
Lot Size1.96 Acres
Price / SF$249.90
Days on Market145
Property Features for 355 Smith Ridge Road
General Information
Property type
Property subtype
Property condition
Rooms
Basement
Elementary school district
Middle school district
High school district
Standard status
APN
Lot size
Tenancy & Operations
Currently Operating
Tenant in Place
Business Included
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
wine bar
private VIP/Party Room
two-bedroom residential apartment upstairs
expanded basement
Building Details
Year built
Building materials
Buildings
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(914) 232-7000
Listed By:
Justin Pieragostini · License NY #10401203604
(914) 447-3396
Added: Jun 23
Changed: Nov 6
Last Checked: Nov 14 at 2:06AM
MLS# 1014508
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.
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Investment Insights
Based on property information with market context.
This restaurant property is under construction following a complete rebuild, with delivery scheduled for November 2026. The planned layout includes dining areas for 100+ guests, a wine bar, private VIP and party room, outdoor patio, and a newly equipped commercial kitchen with modern appliances and a hood system. An upstairs two-bedroom apartment adds a residential component, while the expanded basement provides storage and operational space.
The property occupies 1.9641 acres and includes on-site parking for over 100 vehicles. Building systems include forced-air heating and central air conditioning. The structure is frame construction and will be served by a well and septic tank.
The property occupies 1.9641 acres and includes on-site parking for over 100 vehicles. Building systems include forced-air heating and central air conditioning. The structure is frame construction and will be served by a well and septic tank.
Key Highlights
- Complete restaurant rebuild under construction with delivery scheduled for November 2026
- Dining areas designed for 100+ guests, plus wine bar and private VIP/party room
- New commercial kitchen with modern appliances and hood system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$144,938
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,898,760
$2.9M
Cap Rate 7%
$2,070,543
$2.1M
Cap Rate 9%
$1,610,422
$1.6M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$300.0K $30.00/SF
− Vacancy
−$68.1K −$6.81/SF
EGI
$231.9K $23.19/SF
− OpEx
−$87.0K −$8.70/SF
NOI
$144.9K $14.49/SF
Area
Westchester County, NY
Vacancy
22.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,898,760
Cap Rate 7%
$2,070,543
Cap Rate 9%
$1,610,422
Alternative Uses
Best Use
Specialty Retail
$6.61M
$5.79M – $7.71M
NOI $462,825 @ 7.0% cap · market cap 18.52%
Second Best
Mixed Use
$2.07M
$1.81M – $2.42M
NOI $144,938 @ 7.0% cap · market cap 5.80%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
10,000 VPD
Traffic count
100%
Occupancy
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Yes
Commercial hood
Yes
Grease trap
Yes
Liquor license
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
View Realmo Analytics
Market
Properties on Market for Conventional restaurants in Westchester County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property under construction with dining, event, kitchen, and upstairs residential components.
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: Complete restaurant rebuild under construction with delivery scheduled for November 2026; Dining areas designed for 100+ guests, plus wine bar and private VIP/party room; New commercial kitchen with modern appliances and hood system
