Three-Tenant Strip Retail
For Sale
$3,750,000
605 Fifth Avenue, Pelham, NY 10803
Three occupied shops operate under NNN leases, with individual restrooms and shared off-street parking.
Property Size5,265 SF
Lot Size0.35 Acres
Price / SF$712.25
Days on Market105
Property Features for 605 Fifth Avenue
General Information
Standard status
Active
Size
5,265 SF
Total Parking Spaces
27
Lot size
0.35 Acres
Property subtype
Commercial
Zoning
BAC3
Occupancy
100%
Additional Details
Corner Location
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$58,758
Building Details
Building Size
5,265 SF
Year Built
1998
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
(914) 245-3400
Listed By:
Raymond Poppe
(203) 733-9552
Source:
Gillianstewart
Added: Jul 13
Changed: Oct 23
Last Checked: Oct 23 at 4:03PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 605 Fifth Avenue, this freestanding, single-level retail center was built in 1998. Its three retail units are fully leased under NNN terms, and each has a restroom. The property carries a BAC3 zoning designation and occupies a 15,188+ square-foot site, or 0.35+ acres. The reported building area differs across the property details, so no building-area figure is included.
The site is at the corner of Fifth Avenue and 7th Street in Pelham, approximately 15 miles from Manhattan. Twenty-seven off-street parking spaces serve the property. An adjacent property at 7th Street and 4th Avenue is also offered for sale.
The site is at the corner of Fifth Avenue and 7th Street in Pelham, approximately 15 miles from Manhattan. Twenty-seven off-street parking spaces serve the property. An adjacent property at 7th Street and 4th Avenue is also offered for sale.
Key Highlights
- Three fully leased retail units with NNN leases
- Built in 1998; single‑level, freestanding retail property
- 15,188+ square‑foot site, or 0.35+ acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$111,326
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,226,520
$2.2M
Cap Rate 7%
$1,590,371
$1.6M
Cap Rate 9%
$1,236,956
$1.2M
Market Conditions
NOI Build-Up for 5,265 SF
Gross rent
$183.2K $34.80/SF
− Vacancy
−$24.2K −$4.59/SF
EGI
$159.0K $30.21/SF
− OpEx
−$47.7K −$9.06/SF
NOI
$111.3K $21.14/SF
Area
Westchester County, NY
Vacancy
13.20%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,226,520
Cap Rate 7%
$1,590,371
Cap Rate 9%
$1,236,956
Alternative Uses
Best Use
Retail
$1.59M
$1.39M – $1.86M
NOI $111,326 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
897
Businesses Nearby
42k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 74%
Dining 20%
Electronics 6%
Mobil
Shops & Services
12,732 visits/mo
0.4 miles
TD Bank
Shops & Services
8,802 visits/mo
0.3 miles
Dunkin' Donuts
Dining
8,319 visits/mo
0.4 miles
BP
Shops & Services
5,508 visits/mo
0.5 miles
Shell
Shops & Services
3,683 visits/mo
0.4 miles
Demographics for 10803, NY
13,255
Population
4,360
Households
3
Avg Household Size
40
Median Age
74%
College-Educated
97%
High-School Grad
2.2 sq mi
ZIP Area
6,025
Density / Sq Mi
$212,288
Median Household Income
$97,447
Median Earnings
$2,242
Median Rent
$961,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Strip mall - Three occupied shops operate under NNN leases, with individual restrooms and shared off-street parking.
Where is this strip mall located?
The property is located at 605 Fifth Avenue Pelham, NY.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Three fully leased retail units with NNN leases; Built in 1998; single‑level, freestanding retail property; 15,188+ square‑foot site, or 0.35+ acres
