33 LeCount Place: A Detailed Property Report

This report analyzes the investment potential of 33 LeCount Place, a retail space located in the heart of downtown New Rochelle, New York. The property's prime location, coupled with its ready-to-occupy condition, presents a compelling opportunity for investors and tenants alike. However, a complete financial assessment requires further data collection, specifically concerning lease rates and detailed market analysis.

Property Description

33 LeCount Place offers a fully built-out retail space, eliminating the need for costly renovations. This significantly reduces time-to-market and allows for immediate occupancy. The exact square footage and specific layout details are currently unavailable and require further investigation (see Next Steps section). High-quality photographs of the property's interior and exterior are needed to complete this section. Preliminary observations suggest a space well-suited for a variety of retail uses.

Market Analysis: New Rochelle's Downtown Retail Landscape

New Rochelle's downtown area is experiencing a surge in residential development, creating a growing pool of potential customers for retail businesses. The proximity of 33 LeCount Place to the Metro-North train station ensures high foot traffic and easy accessibility. However, a thorough market analysis, including lease rate comparisons and vacancy rates for comparable properties, is currently underway. This analysis will provide critical context for assessing the property's competitiveness and potential rental income. This data is crucial for a precise valuation and ROI projection.

Location Advantages

33 LeCount Place benefits from an unparalleled location:

  • High Foot Traffic: Proximity to the Metro-North station and the burgeoning residential area guarantees significant pedestrian traffic.
  • Synergistic Neighbors: The co-location with complementary businesses, such as the Monroe Athletic Facility and an escape room, increases visibility and attracts a diverse clientele.
  • Growing Residential Population: New residential high-rises in the vicinity are expanding the potential customer base.
  • Accessibility: Convenient access to public transportation boosts the property's appeal to both tenants and customers.

Potential Tenants

The ideal tenant for 33 LeCount Place will depend on the final lease rate and a more comprehensive market analysis. However, given the location and its proximity to complementary businesses, potential tenants could include:

  • Specialty Retail: Unique boutiques offering products not readily available elsewhere.
  • Food and Beverage: Cafes, restaurants, or quick-service eateries catering to the high foot traffic.
  • Service-Oriented Businesses: Salons, spas, or other services targeting residents and commuters.
  • Fitness and Wellness: Opportunities exist for businesses that cater to the health and wellness needs of the surrounding community, complementing the nearby athletic facility.

Investment Considerations

A comprehensive analysis of the property's Return on Investment (ROI) is currently not feasible due to the lack of lease rate data. Once lease rates and vacancy rates are obtained, a robust financial model will be developed which will project net operating income, capitalization rates, and overall ROI.

Risk Assessment

Several potential risks must be considered:

  • Lease Rate Volatility: Market fluctuations can affect rental income; this necessitates strategic lease terms and proactive market monitoring.
  • Vacancy Risk: While the current market is strong, periods of vacancy can significantly impact profitability. A diversified tenant approach can mitigate this risk.
  • Economic Downturn: General economic conditions could affect tenant demand; financial modeling will incorporate various economic scenarios to assess the property's resilience.
  • Regulatory Compliance: Ensuring ongoing compliance with local zoning and building regulations is critical.

Conclusion

33 LeCount Place presents a strong potential for investment and tenancy, bolstered by its exceptional location and ready-to-occupy condition. However, a thorough market analysis and securing current lease rate data are critical to provide a comprehensive financial assessment and to fully realize the property’s potential.

Next Steps

  1. Gather Lease Rate Data: Collect lease rates for comparable properties in downtown New Rochelle to establish a benchmark.
  2. Conduct Comprehensive Market Research: Analyze market trends, vacancy rates, and tenant demand to refine predictions.
  3. Develop a Detailed Financial Model: Create a model that incorporates lease rates, vacancy rates, and revenue projections to estimate ROI.
  4. Secure High-Quality Photographs: Obtain professional photographs of the property.
  5. Determine Precise Square Footage & Layout: Obtain precise measurements and a detailed floor plan.

This information will allow for a complete and accurate financial projection and risk assessment. The findings will be crucial in determining the ultimate value and investment potential of 33 LeCount Place.