Central Park Avenue Retail
For Sale
$799,000
2070 Central Park Ave, Yonkers, NY 10710
Retail property with high visibility and parking in rear.
Property Size1,584 SF
Days on Market130
Property Features for 2070 Central Park Ave
General Information
Standard status
Active
Size
1,584 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$21,765
Building Details
Building Size
1,584 SF
Year Built
1950
Listing Agency:
RE/MAX PRIME PROPERTIES
(914) 391-6994
Listed By:
Julia Ricciuti · License #4.91E+13
(914) 391-6994
Source:
Elliman
Added: Apr 15
Changed: Aug 8
Last Checked: Aug 22 at 11:35AM
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 RE/MAX PRIME PROPERTIES
Investment Insights
Based on property information with market context.
This property, available for the first time since 1993, presents a business opportunity with significant visibility on the Central Park Avenue service road. It features parking in the rear. The building is well-maintained and includes a new furnace installed in 2024, along with a new oil tank located in the basement. The basement, suitable for storage, has a separate entrance. The property is equipped with two electric meters. According to walkScore, the location is car-dependent with a score of 48. The bikeScore is 22, indicating it is somewhat bikeable. The transitScore is 31, suggesting some transit options are available. The property can be converted back to a 2-family residence.
Key Highlights
- Tremendous visibility on Central Park Avenue service road - ideal for business.
- Plenty of parking in the rear.
- Brand new furnace (2024).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,936
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$618,720
$618.7K
Cap Rate 7%
$441,943
$441.9K
Cap Rate 9%
$343,733
$343.7K
Market Conditions
NOI Build-Up for 1,584 SF
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.
Gross rent
$47.5K $30.00/SF
− Vacancy
−$3.3K −$2.10/SF
EGI
$44.2K $27.90/SF
− OpEx
−$13.3K −$8.37/SF
NOI
$30.9K $19.53/SF
Area
Yonkers, NY
Vacancy
7.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$618,720
Cap Rate 7%
$441,943
Cap Rate 9%
$343,733
Alternative Uses
Best Use
Retail
$441.9K
$386.7K – $515.6K
NOI $30,936 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$547.6K
$479.1K – $638.8K
NOI $38,329 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10710, NY
26,725
Population
10,107
Households
2.6
Avg Household Size
46
Median Age
44%
College-Educated
91%
High-School Grad
4.6 sq mi
ZIP Area
5,810
Density / Sq Mi
$100,783
Median Household Income
$58,949
Median Earnings
$1,797
Median Rent
$534,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail property with high visibility and parking in rear.
Where is this storefront property located?
The property is located at 2070 Central Park Ave Yonkers, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Tremendous visibility on Central Park Avenue service road - ideal for business.; Plenty of parking in the rear.; Brand new furnace (2024).
