Property Details

Overview

Prime Mixed-Use Property in the Heart of New Rochelle (10801)Just a 5-minute walk to downtown and the train station, this well-located mixed-use building offers strong rental potential and long-term value.Property Features:Ground floor: Approx. 2, 800 sq ft restaurant space currently operating as a Cocina Mexicana & Tequila Bar, with seating approved for 84 guests and a 14-seat bar. The spacious layout is also ideal for hosting events.Second floor: Two residential units — one 1-bedroom apartment and one 2-bedroom apartment.Current Lease Details:Restaurant: $3, 311/month. Tenants cover 50% of any property tax increase over the 2021 base year. Rent is below market rate due to a $200, 000 renovation investment by the restaurant owner in 2021. Lease term runs through 2029.1-Bedroom Apartment: $1, 500/month2-Bedroom Apartment: $2, 050/monthAdditional Notes:All units have separate utility meters. Tenants are responsible for their own heating and electricity.