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    260 North Ave New Rochelle, NY 10801
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    260 North Ave, New Rochelle, NY 10801

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    • Retail properties & Spaces
    • 14,671 SF
    • 0.75 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Citizens / Bank / Loan Service
    • Citizens ATM / Atm

    Property Details for 260 North Ave

    Year built
    1926
    Lot size
    0.75 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Mixed-use properties

    Description

    This exceptional 0.75-acre property at 260 North Avenue in New Rochelle, NY, presents a significant redevelopment opportunity. The site boasts a prominent corner location in the heart of downtown, offering exceptional visibility and accessibility. Currently improved with a vacant 14,671 square foot, two-story building constructed in 1926 and renovated in 1962, the property is zoned DO-1/Downtown Development Standard 2, allowing for a building up to 24 stories, with potential for an additional four bonus stories. The site's substantial size and street frontage on North Avenue, Huguenot Street, and Lawton Street provide ample development potential. Its location offers convenient access to the New Rochelle Transit Center (Metro-North and Amtrak), and is within a half-mile of Interstate 95 (Exit 16). The previous owner-occupier, a bank, expressed interest in retaining a retail presence in any new development. This presents a unique opportunity to create a mixed-use development that caters to both residential and commercial needs in a thriving downtown area. The property's strategic location and flexible zoning make it an ideal investment for developers seeking a high-impact project in a dynamic New York market. The building itself is a single structure. The property is situated in Westchester County, New York, with a zip code of 10801.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Rochelle
    County
    Westchester
    State
    New York
    Longitude
    -73.7822
    Latitude
    40.9111

    Comparable in this City

    • Value Estimation by Request
      0.46 Acres

      90 Huguenot St

      FINANCIAL BUILDING
      90 Huguenot St, New Rochelle, NY 10801-5736
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    • Value Estimation by Request
      0.19 Acres

      542 Main St

      FINANCIAL BUILDING
      542 Main St, New Rochelle, NY 10801-7269
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    • Value Estimation by Request
      0.75 Acres

      238 Huguenot St

      FINANCIAL BUILDING
      238 Huguenot St, New Rochelle, NY 10801
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    • Value Estimation by Request
      0.21 Acres

      491 Main St

      FINANCIAL BUILDING
      491 Main St, New Rochelle, NY 10801-6303
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    • Value Estimation by Request
      0.22 Acres

      11 Lawton St

      FINANCIAL BUILDING
      11 Lawton St, New Rochelle, NY 10801
      View Details
    • Value Estimation by Request
      0.26 Acres

      28 Lecount Pl

      FINANCIAL BUILDING
      28 Lecount Pl, New Rochelle, NY 10801-6416
      View Details

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    New Rochelle, NY 10801
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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