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    451 Main St New Rochelle, NY 10801
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    Property profile & analytics

    451 Main St, New Rochelle, NY 10801

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    • Office buildings
    • 0.12 lot acres
    For Lease
    $4 SF/Yr
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    Historic Corner Property in Downtown For Lease
    $4 SF/Yr

    Historic Corner Property in Downtown

    Unique mixed-use property with ample natural light and storage.

    451 Main St, New Rochelle, NY 10801
    View Listing
    Property ID
    US63-1371100
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Interventional Physical Medicine & Rehabilitation, P.C. / Physician
    • Tus Abogados Locales / Law Firm

    Property Details for 451 Main St

    Lot size
    0.12 lot acres
    Property type
    Office buildings
    APN
    551000 1-228-0001
    APU
    55100012280001

    Description

    This exceptional three-story, Class A commercial property at 451 Main Street, New Rochelle, NY 10801 (corner of LeCount Pl.) offers 18,260 square feet of versatile space ideal for various uses, including traditional office, coworking, and medical office. The building boasts a unique historic designation and is situated in the heart of downtown New Rochelle. Currently, 13,430 square feet is available, with minimum divisible space of 3,295 square feet and a maximum contiguous space of 5,570 square feet. The building features three suites, a 12-14 foot ceiling height, and ample natural light. Utilities are metered separately for gas and electric on each floor. The HVAC system includes heat pump units and supplemental gas-powered boilers. ADA-compliant restrooms are located on the first and third floors, with additional restrooms on the mezzanine and in the basement. The building offers a 1,200-amp electrical service, a fully functioning sprinkler system, and one elevator servicing the first floor and mezzanine. Street and municipal garage parking is available. Basement storage space is also included. Zoning is Downtown Business. This property presents a rare opportunity to lease a full floor or a portion thereof in a landmark building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New Rochelle
    County
    Westchester
    State
    New York
    Longitude
    -73.78
    Latitude
    40.9102
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $0.00
    $22,700
    $9,300
    $32,000
    -
    $1,170,103
    $479,381
    $1,649,484

    Comparable in this City

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      PROFESSIONAL BUILDING
      421 Huguenot St, New Rochelle, NY 10801-7004
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      0.13 Acres

      415 Huguenot St

      OFFICE BUILDING
      415 Huguenot St, New Rochelle, NY 10801-7035
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      0.99 Acres

      1000 Main St

      OFFICE BUILDING
      1000 Main St, New Rochelle, NY 10801-7538
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      0.16 Acres

      830 Pelhamdale Ave

      OFFICE BUILDING
      830 Pelhamdale Ave, New Rochelle, NY 10801-1024
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      2.56 Acres

      140 Lockwood Ave

      PROFESSIONAL BUILDING
      140 Lockwood Ave, New Rochelle, NY 10801-4915
      View Details

    Similar Nearby for Lease

    • Contact for pricing
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      New Rochelle Office Building For Rent

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      Medical/Dental Office Space Available

      Premier location for medical and dental practitioners in Westchester.
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      44,740 SF

      Versatile Retail or Office Space

      Adaptable space in a prime commercial area with ample parking.
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      Commercial Space For Lease

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    View Listing
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    451 Main St
    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.

    More about this property
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