Mixed-Use Investment Opportunity in
86 McLean and 2 - 6 Cornell Ave Yonkers, NY 10705
86 McLean and 2 - 6 Cornell Ave, Yonkers, NY, 10705
$1,995,000
For Sale
$1,995,000
Mixed-use property with commercial spaces, residential units, and parking.
Property Size6,360 SF
Lot Size0.30 Acres
Price / SF$313.68
Days on Market134
Property Features for 86 McLean and 2 - 6 Cornell Ave
General Information
- Standard status
- Active
- Size
- 6,360 SF
- Lot size
- 0.30 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1965
Listing agency
Keller Williams Realty Group
(914) 830-2087
Listed by
Marina Suh · License #10401315312
(914) 830-2087
Source
Elliman
Added: Mar 11 Updated: Jul 10 at 1:02PM Checked: Jul 22 at 12:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Group
Investment Insights
Based on property information with market context.
This mixed-use investment opportunity includes three tax lots sold as a package, featuring two mixed-use buildings and a large adjacent gated parking lot. Located at 86 McLean Avenue, 2 Cornell Avenue, and 6 Cornell Avenue in Yonkers, NY, the property totals 6,360 square feet on 0.30 acres. The parking lot accommodates approximately 30 vehicles and is secured with a fence and security system. The property includes four commercial spaces and two residential apartments: a one-bedroom unit with a small office and a two-bedroom unit. Both residential units are modern and updated, and currently owner-occupied. Three long-term tenants occupy the property, including an auto repair shop and a laundromat, which has a formal lease. Other tenants operate month-to-month, offering flexibility for lease renegotiation or renewal. All tenants are reliable and pay rent on time. One commercial space is vacant and suitable for various businesses, such as a hair or nail salon, cafe, office, or other neighborhood enterprise. Situated in a high-traffic, established area with residential buildings, single-family homes, and commercial businesses, the property is well-maintained. There are no violations, open permits, or unpaid taxes.
Key Highlights
- Rare mixed‑use investment opportunity with 3 tax lots sold as a package.
- Benefit from a large, gated parking lot that accommodates approximately 30 vehicles, secured with a high‑quality fence and security system.
- Includes 4 commercial spaces and 2 updated residential apartments (1‑bedroom with office, 2‑bedroom).
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $282.4k | $44.40 |
| − Vacancy | −$25.4k | −$4.00 |
| EGI | $257.0k | $40.40 |
| − OpEx | −$115.6k | −$18.18 |
| NOI | $141.3k | $22.22 |
6,360 SF · lease $44.40/SF/yr · vacancy 9.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.02M
$1.77M – $2.36M
NOI $141,333 @ 7.0% cap · market cap 7.08%
Second Best
Retail
$1.77M
$1.55M – $2.07M
NOI $124,211 @ 7.0% cap · market cap 6.23%
Theoretical Best
Multifamily LT 5
$2.20M
$1.92M – $2.56M
NOI $153,897 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Auto shops
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with commercial spaces, residential units, and parking.
Where is this mixed-use property located?
The property is located at 86 McLean and 2 - 6 Cornell Ave Yonkers, NY.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Rare mixed‑use investment opportunity with 3 tax lots sold as a package.; Benefit from a large, gated parking lot that accommodates approximately 30 vehicles, secured with a high‑quality fence and security system.; Includes 4 commercial spaces and **2 updated residential apartments (1‑bedroom with office, 2‑bedroom)**.
