Multi-Level Office
51 Union Street, New Rochelle, NY 10801
For Sale
$950,000
NB zoning allows professional offices alongside several retail, service, and dining uses.
Property Size3,000 SF
Price / SF$316.67
Days on Market9
Property Features for 51 Union Street
General Information
Standard status
Size
Class
Total Parking Spaces
Property subtype
Zoning
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
reception area
private offices
staff workspaces
kitchenette
file storage
full bathroom
conference room
living area
full kitchen
storage
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Houlihan Lawrence Commercial
Listed By:
Rich Aponte · License #10301200070
(914) 960-9148
Source:
Moreandmorerealestate
Added: Nov 1
Changed: Nov 7
Last Checked: Nov 8 at 1:30PM
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 Houlihan Lawrence Commercial
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Investment Insights
Based on property information with market context.
The 3,000-square-foot property, built in 1923, has office and work areas across two levels, plus a full basement for storage. The main floor includes a reception area, private offices, staff workspace, kitchenette, file storage, and a full bathroom. Upstairs are a conference or living area, two more private offices, and a full kitchen. One attached parking space is included.
Located at 51 Union Street in New Rochelle, the property is zoned NB. Listed permitted uses include professional offices, retail shops, restaurants, banks, service businesses, fitness and dance studios, and second-floor-or-higher residential units. New Rochelle Train Station provides a 38-minute ride to Grand Central Terminal.
Located at 51 Union Street in New Rochelle, the property is zoned NB. Listed permitted uses include professional offices, retail shops, restaurants, banks, service businesses, fitness and dance studios, and second-floor-or-higher residential units. New Rochelle Train Station provides a 38-minute ride to Grand Central Terminal.
Key Highlights
- 3,000 square feet across two levels, with a full basement
- Main floor has reception, private offices, staff workspace, kitchenette, file storage, and a full bathroom
- Upper level includes a conference or living area, two private offices, and a full kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,940
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$918,800
$918.8K
Cap Rate 7%
$656,286
$656.3K
Cap Rate 9%
$510,444
$510.4K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$82.4K $27.48/SF
− Vacancy
−$21.2K −$7.06/SF
EGI
$61.3K $20.42/SF
− OpEx
−$15.3K −$5.10/SF
NOI
$45.9K $15.31/SF
Area
Westchester County, NY
Vacancy
25.70%
Lease Rate
$27.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$918,800
Cap Rate 7%
$656,286
Cap Rate 9%
$510,444
Alternative Uses
Best Use
Office B
$656.3K
$574.3K – $765.7K
NOI $45,940 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.98M
$1.74M – $2.31M
NOI $138,848 @ 7.0% cap · market cap 14.62%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,468
Businesses Nearby
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Business Placement
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
$555,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Westchester County, NY
Properties on Market for Office Units in Westchester County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - NB zoning allows professional offices alongside several retail, service, and dining uses.
Where is this office unit located?
The property is located at 51 Union Street New Rochelle, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3,000 square feet across two levels, with a full basement; Main floor has reception, private offices, staff workspace, kitchenette, file storage, and a full bathroom; Upper level includes a conference or living area, two private offices, and a full kitchen
