For Sale
$3,795,000

542 Main StNew Rochelle, NY 10801

Prime Location, High NOI, Multi-Tenant

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional four-story, 22,750 square foot office building is situated in the heart of downtown New Rochelle, NY, on Main Street. Built in 1900, this multi-tenant property boasts a flexible layout ideal for various business uses, including executive offices and flex spaces. The building features a striking brick facade with granite accents and a secure environment with security cameras and individual HVAC systems for each floor. The interior includes a terrazzo lobby, a marble entryway on the first floor, and multiple bank vaults. The basement houses essential utilities, including a 2012-installed boiler, a 3,000-gallon oil tank, and fiber optic connections. A spacious, vacant executive office on the fourth floor offers ample natural light from two skylights. The property's prime location on a busy commercial corridor provides high visibility and easy access to amenities, including restaurants, retail, and the Metro-North station. With a 6.79% cap rate and a net operating income (NOI) of $257,679, this presents a compelling investment opportunity with strong potential for long-term value. The asking price is $3,795,000, with a price per square foot of $167. The property is zoned DB and has an APN of 2-413-0019. The 8,450 square foot lot includes a silver-coated rubber roof.

Highlights

  • 542 Main Street boasts a striking brick facade with granite accents and a granite staircase. The secure building features a steel-and-glass entry, a large stained-glass window, and security cameras. Each floor has independent HVAC/AC and baseboard heating.
  • The building features a terrazzo lobby and a marble entryway on the first floor, along with multiple bank vaults.
  • The basement includes individual floor electric meters, a hot water heater, a 2012 boiler, a 3,000-gallon oil tank (2,700 gallons usable), fiber optic connections, and multiple vaults. Central heating services the entire building.
  • The fourth floor offers a large vacant executive suite with two skylights and a refined setting. The building has a durable silver-coated rubber roof.
  • 8,450 square foot lot.

Property Details for 542 Main St

Property type
Office properties, Industrial properties
Square Feet
22,750 SF
Year Built
1900
Buildings
1
Stories
4
Units
5

Location Insight

City
New Rochelle
County
Westchester
State
New York
Latitude
40.9077651
Longitude
-73.7828809
542 Main St, New Rochelle, New York

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542 Main St
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