Turnkey Four-Family Corner Lot
For Sale
$1,313,000
87 Sickles Avenue New, New Rochelle, NY 10801
Well-maintained, updated four-family property in New Rochelle, move-in ready.
Property Size4,000 SF
Price / SF$328.25
Days on Market241
Property Features for 87 Sickles Avenue New
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Quadruplex
Amenities
Separate Meters
Zoned
Baseboard
Electric
Electricity Connected, Natural Gas Connected
Building Details
Year Built
1993
Listing Agency:
Keller Williams Realty Group
Listed By:
Kenneth Moran · License #NY
(914) 438-7529
Source:
Kw
Added: Jan 6
Changed: Sep 4
Last Checked: Jul 15 at 9:31PM
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 Keller Williams Realty Group
Investment Insights
Based on property information with market context.
This well-maintained four-family property, approximately 4,000 square feet, is situated on a corner lot. The building features two two-bedroom, one-bath units and two three-bedroom, one-bath units. All units have been recently updated with modern finishes and are in move-in-ready condition. The layouts are spacious and well-proportioned, with good natural light throughout. A large walk-out basement provides substantial additional space, along with a dedicated laundry room for tenant convenience. The basement access and size offer utility, storage, and operational flexibility. The corner lot positioning enhances curb appeal, light exposure, and access. The property is conveniently located near transportation, shopping, dining, schools, and major roadways. This property is located in New Rochelle and has a bike score of 56, walk score of 78, and transit score of 50.
Key Highlights
- Turnkey, recently updated units: All units are move‑in‑ready with modern finishes.
- Excellent unit mix: Features two 2‑bedroom/1‑bath and two 3‑bedroom/1‑bath units.
- Desirable corner lot location enhances curb appeal, light exposure, and access.
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
$77,912
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
5.93%
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%
$1,558,240
$1.6M
Cap Rate 7%
$1,113,029
$1.1M
Cap Rate 9%
$865,689
$865.7K
Market Conditions
NOI Build-Up for 4,000 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
$119.0K $29.76/SF
− Vacancy
−$7.7K −$1.93/SF
EGI
$111.3K $27.83/SF
− OpEx
−$33.4K −$8.35/SF
NOI
$77.9K $19.48/SF
Area
Westchester County, NY
Vacancy
6.50%
Lease Rate
$29.76 /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%
$1,558,240
Cap Rate 7%
$1,113,029
Cap Rate 9%
$865,689
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$973.9K – $1.30M
NOI $77,912 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$980.1K
$857.6K – $1.14M
NOI $68,607 @ 7.0% cap · market cap 5.23%
Theoretical Best
Retail
$1.21M
$1.06M – $1.41M
NOI $84,578 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,824
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained, updated four-family property in New Rochelle, move-in ready.
Where is this quadplex located?
The property is located at 87 Sickles Avenue New New Rochelle, NY.
What is the asking price?
The asking price for this property is $1,313,000.
What are key features of this property?
This property features: Turnkey, recently updated units: All units are move‑in‑ready with modern finishes.; Excellent unit mix: Features two 2‑bedroom/1‑bath and two 3‑bedroom/1‑bath units.; Desirable corner lot location enhances curb appeal, light exposure, and access.
