345 North Avenue

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.