Three-Story Column-Free
For Sale
Contact for pricing
197 S Broadway Yonkers NY, Yonkers, NY 10701
Three-story warehouse with a column-free layout, 21-foot ground-floor height, and rear dock.
Property Size11,000 SF
Price / SF$209.09
Days on Market486
Property Features for 197 S Broadway Yonkers NY
General Information
Standard status
Active
Size
11,000 SF
Class
C
Property subtype
Industrial
Zoning
M1
Investment Type
Owner/User
Building Details
Year Built
1920
Year Renovated
2007
Buildings
1
Stories
3
Listing Agency:
Niko International Brokerage
Listed By:
Nijila W. Brown · License #NY 10371200656
Source:
Crexi
Added: May 13, 2025
Changed: Sep 6
Last Checked: Sep 9 at 6:53AM
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 Niko International Brokerage
Investment Insights
Based on property information with market context.
Located at 197 S. Broadway in Yonkers, NY, this three-floor warehouse offers a column-free layout across all levels. The ground level features a 21-foot ceiling height and includes an exit on the side downstairs. A 500-square-foot mezzanine occupies the second floor, where the ceiling height is 13 feet.
The third floor provides a 16-foot ceiling height. A dock is located in the rear of the building, supporting convenient loading operations.
All floors are approximately 3,500 square feet, totaling about 11,000 square feet of warehouse space. Public remarks also note heavy foot traffic.
The third floor provides a 16-foot ceiling height. A dock is located in the rear of the building, supporting convenient loading operations.
All floors are approximately 3,500 square feet, totaling about 11,000 square feet of warehouse space. Public remarks also note heavy foot traffic.
Key Highlights
- Three‑story warehouse built in 1920 with a column‑free layout
- Ground‑level ceiling height of 21 ft with 3,500 SF per floor
- Second floor includes 500 SF mezzanine space with 13 ft ceiling height
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
$155,594
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
6.76%
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%
$3,111,880
$3.1M
Cap Rate 7%
$2,222,771
$2.2M
Cap Rate 9%
$1,728,822
$1.7M
Market Conditions
NOI Build-Up for 11,000 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
$195.4K $17.76/SF
− Vacancy
−$12.3K −$1.12/SF
EGI
$183.1K $16.64/SF
− OpEx
−$27.5K −$2.50/SF
NOI
$155.6K $14.14/SF
Area
Yonkers, NY
Vacancy
6.30%
Lease Rate
$17.76 /SF/Yr
Expense Ratio
15.00%
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%
$3,111,880
Cap Rate 7%
$2,222,771
Cap Rate 9%
$1,728,822
Alternative Uses
Best Use
Warehouse
$2.22M
$1.94M – $2.59M
NOI $155,594 @ 7.0% cap · market cap 6.76%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.80M
$3.33M – $4.44M
NOI $266,174 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,500
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 10701, NY
68,704
Population
28,252
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
79%
High-School Grad
4.4 sq mi
ZIP Area
15,615
Density / Sq Mi
$63,310
Median Household Income
$42,702
Median Earnings
$1,694
Median Rent
$412,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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- The Mills At Yonkers / R.J. Rose Realty — 500 Nepperhan Ave, Yonkers, NY 10701
- Let's Make A Deal of New York, LLC — 145 Saw Mill River Rd 4th floor, Yonkers, NY 10701
Frequently Asked Questions
What type of property is this?
Warehouse - Three-story warehouse with a column-free layout, 21-foot ground-floor height, and rear dock.
Where is this warehouse located?
The property is located at 197 S Broadway Yonkers NY Yonkers, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Three‑story warehouse built in 1920 with a column‑free layout; Ground‑level ceiling height of 21 ft with 3,500 SF per floor; Second floor includes 500 SF mezzanine space with 13 ft ceiling height
