650 Lee BlvdYorktown Heights, NY 10598

Property Details for 650 Lee Blvd

Lot size

38.76 AC

Zone code

CRC

Property type

Super regional malls

APN

555400 16.12-1-24

APU

5554001612124

Description

This thriving Flame Asian Bistro, located in the bustling JV Mall in Yorktown Heights, NY, presents a unique opportunity for a savvy investor. The 5,862 square foot, single-story restaurant boasts a 200-person capacity (approximately 150 seats), featuring a fully furnished, high-end interior. The impressive setup includes a full-service kitchen equipped with a walk-in cooler and freezer, grill, char broiler, deep fryer, and ice maker. A raw and sushi bar, beautiful custom bar, two private party rooms, and outdoor seating add to its appeal. Currently operating under a gross lease with a monthly rent of $14,900, the lease expires June 30, 2027, with a five-year option extending to June 30, 2032. The asking key money is $80,000. The restaurant enjoys a prime location with direct access from both the parking lot and the mall interior, benefiting from high traffic counts in the area. Situated in affluent Northern Westchester County, the JV Mall is anchored by major retailers such as Macy's, Dick's Sporting Goods, and ULTA, ensuring consistent foot traffic. The property's strategic location offers easy access from Route 6 and close proximity to the Taconic State Parkway, with daily traffic counts exceeding 20,000 vehicles on Route 6, 52,000 on the Taconic State Parkway, and over 3,500 on Lee Boulevard. This turnkey operation is ready for immediate success.

• CAP approach

  CAP return

  Valuation

  6%

  $410,336,736

  6.5%

  $378,772,384

  7%

  $351,717,216

• Comparable approach

  Method

  Valuation

  Relative Method

  $555,923,392

  Geo Method

  $555,923,392

• Alternative Use

  Use

  Valuation

  Residential

  $319,508,672

  Hospitality

  $292,668,224

  Educational

  $243,496,528

  Medical

  $251,870,752

  Retail

  $378,772,384

Location Insight

City

Yorktown Heights

County

Westchester

State

New York

Latitude

41.3283

Longitude

-73.8075

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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