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$2,850,000
Est. payment /mo
7,496 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1042420
Rental Info No
Annual Tax Amount $34,379
Lot Size 7,496 Sqft
Acres 0.1721
Property Sub-Type Mixed Use
Source onekey2
Property Description
345 North Avenue presents an attractive mixed-use retail investment opportunity in the heart of Downtown New Rochelle, combining existing rental income with significant leasing and long-term redevelopment potential.
The property consists of approximately 5,264 SF of building area, including approximately 4,500 SF of gross leasable area, situated on a 0.17-acre (7,405 SF) lot. The one-story masonry building is configured for multiple commercial occupants and is currently generating approximately $180,000 in annual rental income, with one storefront currently vacant, providing an immediate opportunity for a new owner to increase occupancy and rental revenue.
Located along North Avenue, the property benefits from Downtown Business (DB/C-2) zoning, offering investors flexibility and potential for future repositioning or redevelopment. Its central downtown location places the property within an area experiencing continued growth and revitalization.
The property is also exceptionally well positioned for transportation, located just 0.3 miles from the New Rochelle Metro-North Station, providing convenient access to New York City and the surrounding Westchester market.
With established in-place income, a value-add opportunity through the vacant storefront, flexible downtown zoning, and a highly accessible New Rochelle location, 345 North Avenue offers investors a compelling combination of current cash flow and future upside.
The property consists of approximately 5,264 SF of building area, including approximately 4,500 SF of gross leasable area, situated on a 0.17-acre (7,405 SF) lot. The one-story masonry building is configured for multiple commercial occupants and is currently generating approximately $180,000 in annual rental income, with one storefront currently vacant, providing an immediate opportunity for a new owner to increase occupancy and rental revenue.
Located along North Avenue, the property benefits from Downtown Business (DB/C-2) zoning, offering investors flexibility and potential for future repositioning or redevelopment. Its central downtown location places the property within an area experiencing continued growth and revitalization.
The property is also exceptionally well positioned for transportation, located just 0.3 miles from the New Rochelle Metro-North Station, providing convenient access to New York City and the surrounding Westchester market.
With established in-place income, a value-add opportunity through the vacant storefront, flexible downtown zoning, and a highly accessible New Rochelle location, 345 North Avenue offers investors a compelling combination of current cash flow and future upside.
Location
State NY
County Westchester County
Rooms
Basement Full
Interior
Heating Forced Air
Cooling Central Air
Fireplace No
Exterior
Utilities Available Electricity Connected, See Remarks, Sewer Connected, Water Connected
Building
Foundation Other
Sewer Public Sewer
Water Public
Structure Type Other
Schools
High Schools New Rochelle
School District New Rochelle
Others
Special Listing Condition None
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Listed by Link NY Realty • Valon Nikci
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Valon Nikci
CEO & Principal Broker | License ID: 10991208180
CEO & Principal Broker License ID: 10991208180