Historic Theater with Retail
39 Cedar St Dobbs Ferry, NY 10522
39 Cedar St, Dobbs Ferry, NY, 10522
Contact for pricing
For Sale
Contact for pricing
Pending
Unique property with theater, retail, and development potential.
Property Size13,000 SF
Days on Market808
Property Features for 39 Cedar St
General Information
- Standard status
- Pending
- Size
- 13,000 SF
- Property subtype
- Retail
Listing Agency
The Agency
(914) 262-2598
Listed by
Bryan Lanza · License #NY 10401287317
Source
Crexi
Added: May 1, 2024 Checked: Jul 16 at 7:30 am
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 The Agency
Investment Insights
Based on property information with market context.
This historical theater includes five leased retail stores. Once a venue for vaudeville performances and a movie theater, it is currently used as a music store, warehouse, and recording studio designed by John Storyk, featuring several private rooms for music lessons. The 13,000 square foot property is located in a busy traffic area of a river town, near the train station, fine restaurants and bars. The property could be utilized as its original intentions or a great site for real estate developers or investors. Other possible uses include a dinner and movie theater with rooftop dining, apartments, condominiums, or a sports and gym facility. Previous plans include the restoration of the existing theater to its original use, with a proposed occupancy of 360 patrons, allowing for the continued use of the four storefronts.
Key Highlights
- Historical theater with potential for restoration, proposed occupancy of 360 patrons.
- Includes 5 leased retail stores providing immediate income.
- Versatile property suitable for apartments/condominiums, sports/gym, or dinner/movie theater with rooftop dining.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $452.4k | $34.80 |
| − Vacancy | −$59.7k | −$4.59 |
| EGI | $392.7k | $30.21 |
| − OpEx | −$117.8k | −$9.06 |
| NOI | $274.9k | $21.14 |
13,000 SF · lease $34.80/SF/yr · vacancy 13.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.93M
$3.44M – $4.58M
NOI $274,878 @ 7.0% cap · market cap 8.87%
Second Best
Specialty Retail
$3.19M
$2.79M – $3.72M
NOI $223,470 @ 7.0% cap · market cap 7.21%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Riverworks Recording
Recording Studio
Stolen Moments Entertainment
Music Venue
Muzic Store Inc
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
Similar Off Market Nearby
- Adonia Floral Design — 145 Palisade St, Dobbs Ferry, NY 10522
FAQs
What type of property is this?
Storefront property - Unique property with theater, retail, and development potential.
Where is this storefront property located?
The property is located at 39 Cedar St Dobbs Ferry, NY.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Historical theater with potential for restoration, proposed occupancy of 360 patrons.; Includes 5 leased retail stores providing immediate income.; Versatile property suitable for apartments/condominiums, sports/gym, or dinner/movie theater with rooftop dining.
