Remarks
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/month 2-Bedroom Apartment: $2,050/month Additional Notes: All units have separate utility meters. Tenants are responsible for their own heating and electricity.
