Mixed-Use Building in
For Sale
Contact for pricing
33 W Central Ave, Pearl River, NY 10965
Mixed-use building with bar/restaurant and boarding house units.
Property Size5,528 SF
Price / SF$216.17
Days on Market806
Property Features for 33 W Central Ave
General Information
Standard status
Active
Size
5,528 SF
Property subtype
Retail, Hospitality, Business for Sale
Zoning
CC
Occupancy
100%
Lease Type
Absolute Net
Building Details
Tenancy
Single
Listing Agency:
Triforce Commercial Real Estate LLC
(845) 450-6500
Listed By:
Jason Horowitz · License #NY - 10491207540
Source:
Crexi
Added: Jun 6, 2024
Changed: Aug 15
Last Checked: Aug 19 at 2:37PM
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 Triforce Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
This mixed-use building is located in downtown Pearl River. The property includes a bar and restaurant with an open serving area, a room with a stage, multiple restrooms, a turnkey kitchen, a bar, and a large outdoor patio. Additionally, there are six boarding house units, each with its own bathroom. The sale encompasses both the business and the property. The property size is 5528 square feet.
Key Highlights
- Prime downtown location in Pearl River
- Established and operational bar/restaurant business included in sale
- Turnkey kitchen and bar ready for immediate use
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
$45,243
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
3.79%
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%
$904,860
$904.9K
Cap Rate 7%
$646,329
$646.3K
Cap Rate 9%
$502,700
$502.7K
Market Conditions
NOI Build-Up for 5,528 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
$82.9K $15.00/SF
− Vacancy
−$10.5K −$1.91/SF
EGI
$72.4K $13.10/SF
− OpEx
−$27.1K −$4.91/SF
NOI
$45.2K $8.18/SF
Area
Rockland County, NY
Vacancy
12.70%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
37.50%
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%
$904,860
Cap Rate 7%
$646,329
Cap Rate 9%
$502,700
Alternative Uses
Best Use
Specialty Retail
$3.65M
$3.20M – $4.26M
NOI $255,850 @ 7.0% cap · market cap 21.41%
Second Best
Mixed Use
$646.3K
$565.5K – $754.1K
NOI $45,243 @ 7.0% cap · market cap 3.79%
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
1,508
Businesses Nearby
150k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 40%
Groceries 16%
McDonald's
Dining
28,815 visits/mo
0.3 miles
Food Fair
Groceries
23,836 visits/mo
0.0 miles
Popeyes Louisiana Kitchen
Dining
21,714 visits/mo
0.1 miles
Shell
Shops & Services
15,582 visits/mo
0.5 miles
76
Shops & Services
14,427 visits/mo
0.2 miles
Demographics for 10965, NY
15,342
Population
5,937
Households
2.6
Avg Household Size
44
Median Age
47%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
2,950
Density / Sq Mi
$136,970
Median Household Income
$67,163
Median Earnings
$2,036
Median Rent
$560,200
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?
Mixed-use property - Mixed-use building with bar/restaurant and boarding house units.
Where is this mixed-use property located?
The property is located at 33 W Central Ave Pearl River, NY.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Prime downtown location in Pearl River; Established and operational bar/restaurant business included in sale; Turnkey kitchen and bar ready for immediate use
