Retail and Office
For Sale
$2,995,000
Pending
625 North Ave, New Rochelle, NY 10801
Brick and stucco building with central A/C and loading dock, suited for retail or office use under C-1 zoning.
Property Size7,800 SF
Lot Size0.30 Acres
Days on Market94
Property Features for 625 North Ave
General Information
Standard status
Pending
Size
7,800 SF
Lot size
0.30 Acres
Property subtype
Commercial
Zoning
C-1
Taxes and HOA fees
Annual Taxes
$75,024
Building Details
Building Size
7,800 SF
Year Built
1917
Listing Agency:
Century 21 Marciano
Listed By:
Pasquale A. Marciano · License #37MA1101672
(914) 235-4996
Source:
Elliman
Added: Jun 4
Changed: Sep 4
Last Checked: Sep 1 at 11:47PM
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 Century 21 Marciano
Investment Insights
Based on property information with market context.
Built in 1917, this brick and stucco commercial building sits on approximately 0.3 acres and totals about 7,800 square feet. The property was formerly used as a pharmacy, and it offers adaptable interiors with lofty ceilings, central A/C, and a loading dock. The building is described as needing TLC, giving buyers an opportunity to tailor the space to their intended operation.
The site is positioned close to Iona University, supporting strong foot traffic and visibility. Adjacency to a spacious parking lot also provides convenient on-site access for patrons and employees.
Zoned C-1, the property is intended to accommodate a range of business ventures, including retail or office uses. For investors or owner-operators seeking a flexible, re-tenantable commercial asset with direct operational components like central A/C and a loading dock, this is a straightforward canvas to reimagine based on current requirements. Owner financing is noted as possible with 35% down.
The site is positioned close to Iona University, supporting strong foot traffic and visibility. Adjacency to a spacious parking lot also provides convenient on-site access for patrons and employees.
Zoned C-1, the property is intended to accommodate a range of business ventures, including retail or office uses. For investors or owner-operators seeking a flexible, re-tenantable commercial asset with direct operational components like central A/C and a loading dock, this is a straightforward canvas to reimagine based on current requirements. Owner financing is noted as possible with 35% down.
Key Highlights
- 0.3‑acre brick and stucco commercial building with 7,800 SF built in 1917
- Adaptable interior layout with lofty ceilings, central A/C, and a loading dock
- C‑1 zoning allows a range of commercial uses, including retail or office
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
$164,927
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
5.51%
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%
$3,298,540
$3.3M
Cap Rate 7%
$2,356,100
$2.4M
Cap Rate 9%
$1,832,522
$1.8M
Market Conditions
NOI Build-Up for 7,800 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
$271.4K $34.80/SF
− Vacancy
−$35.8K −$4.59/SF
EGI
$235.6K $30.21/SF
− OpEx
−$70.7K −$9.06/SF
NOI
$164.9K $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 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%
$3,298,540
Cap Rate 7%
$2,356,100
Cap Rate 9%
$1,832,522
Alternative Uses
Best Use
Retail
$2.36M
$2.06M – $2.75M
NOI $164,927 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
956
Businesses Nearby
95k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 70%
Shops & Services 20%
Groceries 9%
Apparel 1%
McDonald's
Dining
36,021 visits/mo
0.1 miles
Mobil
Shops & Services
14,190 visits/mo
0.0 miles
Starbucks
Dining
10,673 visits/mo
0.2 miles
Dunkin' Donuts
Dining
8,342 visits/mo
0.0 miles
New Rochelle Farms
Groceries
8,236 visits/mo
0.4 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Brick and stucco building with central A/C and loading dock, suited for retail or office use under C-1 zoning.
Where is this retail space located?
The property is located at 625 North Ave New Rochelle, NY.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: 0.3‑acre brick and stucco commercial building with 7,800 SF built in 1917; Adaptable interior layout with lofty ceilings, central A/C, and a loading dock; C‑1 zoning allows a range of commercial uses, including retail or office
