Downtown Office
For Sale
$4,200,000
542 Main Street New, New Rochelle, NY 10801
Office property with substantial floor area, basement space, and conversion flexibility under the DO-2 overlay zone.
Property Size22,884 SF
Price / SF$183.53
Days on Market193
Property Features for 542 Main Street New
General Information
Standard status
Active
Size
22,884 SF
Class
B
Property subtype
Multi Tenant Office
Zoning
DO-2
Building Details
Building Size
22,884 SF
Year Built
1929
Buildings
1
Properties For Sale
at 542 Main Street New Contact us- Size
- 4,200 SF
- Lease Type
- Modified Gross
4th Floor Office
- Size
- 7,284 SF
- Lease Type
- Modified Gross
Ground Floor Retail
Listing Agency:
Houlihan Lawrence Commercial
(973) 204-0107
Listed By:
Jared Stone · License #10401343468
(973) 204-0107
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 5:45AM
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
Investment Insights
Based on property information with market context.
This downtown New Rochelle office property contains 22,884 SF within a building constructed in 1929, along with an 8,000 SF basement. The configuration provides a substantial commercial footprint for office operations and other supported applications. Its Main Street address places the property within New Rochelle’s established commercial center.
The DO-2 overlay zone permits conversion to several stated alternatives, including residential housing, artist live/work lofts, and hotel use. The property is also described as suitable for retail, restaurant, and office occupancy, providing flexibility for ownership or redevelopment planning. Located at 542 Main Street in New Rochelle, the building benefits from a central downtown setting and access to the surrounding business environment.
The DO-2 overlay zone permits conversion to several stated alternatives, including residential housing, artist live/work lofts, and hotel use. The property is also described as suitable for retail, restaurant, and office occupancy, providing flexibility for ownership or redevelopment planning. Located at 542 Main Street in New Rochelle, the building benefits from a central downtown setting and access to the surrounding business environment.
Key Highlights
- 22,884 SF office building in downtown New Rochelle
- 8,000 SF basement included
- Constructed in 1929
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
$350,428
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
8.34%
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%
$7,008,560
$7.0M
Cap Rate 7%
$5,006,114
$5.0M
Cap Rate 9%
$3,893,644
$3.9M
Market Conditions
NOI Build-Up for 22,884 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
$628.9K $27.48/SF
− Vacancy
−$161.6K −$7.06/SF
EGI
$467.2K $20.42/SF
− OpEx
−$116.8K −$5.10/SF
NOI
$350.4K $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 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%
$7,008,560
Cap Rate 7%
$5,006,114
Cap Rate 9%
$3,893,644
Alternative Uses
Best Use
Office B
$5.01M
$4.38M – $5.84M
NOI $350,428 @ 7.0% cap · market cap 8.34%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$6.91M
$6.05M – $8.06M
NOI $483,870 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,851
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office property with substantial floor area, basement space, and conversion flexibility under the DO-2 overlay zone.
Where is this office building located?
The property is located at 542 Main Street New New Rochelle, NY.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 22,884 SF office building in downtown New Rochelle; 8,000 SF basement included; Constructed in 1929
