Professional Office Building with Lower
For Sale
$1,075,000
15 Kimball Avenue, Yonkers, NY 10704
Commercial Sale, Yonkers, NY
Property Size2,850 SF
Lot Size0.16 Acres
Price / SF$377.19
Days on Market47
Property Features for 15 Kimball Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
T
Rooms
Basement
Parking features
Parking Lot, Driveway
Security features
Security System
Basement
Full, Walk-Out Access, Finished
Elementary school district
Yonkers
Middle school district
Yonkers
High school district
Yonkers
Standard status
Active
APN
1800-006-000-06232-000-0001-3
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
20762
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
hardwood floors
conference room
Building Details
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Wood Siding
Listing Agency:
Bajraktari Realty Group LLC
(718) 365-4310
Listed By:
Hatema Nezaj · License #10491200403
(718) 365-4310
Added: Jul 16
Changed: Aug 20
Last Checked: Aug 31 at 1:06AM
MLS# 1027223
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This professional office building in Yonkers includes a reception and foyer area, four private offices, a conference room, two bathrooms, hardwood flooring, and extensive windows on the main level. The finished lower level has a separate entrance, four additional rooms, and a full bathroom, allowing the building to support distinct office arrangements. Forced-air heating and central air conditioning are installed, with wood siding and public water and sewer service.
The property is located on Kimball Avenue near McLean Avenue, approximately 1.5 miles from the Metro-North train station. Access to the Bronx River Parkway, Interstate 87, and the Saw Mill River Parkway is within minutes. A private parking lot and driveway provide on-site parking for up to six vehicles. The property is zoned T and includes cable availability.
The property is located on Kimball Avenue near McLean Avenue, approximately 1.5 miles from the Metro-North train station. Access to the Bronx River Parkway, Interstate 87, and the Saw Mill River Parkway is within minutes. A private parking lot and driveway provide on-site parking for up to six vehicles. The property is zoned T and includes cable availability.
Key Highlights
- Four private offices, conference room, reception area, and two bathrooms on the main level
- Finished lower level with private entrance, four rooms, and a full bathroom
- Private on‑site parking lot accommodates up to six vehicles
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
$32,210
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
3.00%
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%
$644,200
$644.2K
Cap Rate 7%
$460,143
$460.1K
Cap Rate 9%
$357,889
$357.9K
Market Conditions
NOI Build-Up for 2,850 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
$59.5K $20.88/SF
− Vacancy
−$16.6K −$5.81/SF
EGI
$42.9K $15.07/SF
− OpEx
−$10.7K −$3.77/SF
NOI
$32.2K $11.30/SF
Area
Yonkers, NY
Vacancy
27.83%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
25.00%
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%
$644,200
Cap Rate 7%
$460,143
Cap Rate 9%
$357,889
Alternative Uses
Best Use
Office B
$460.1K
$402.6K – $536.8K
NOI $32,210 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$985.2K
$862.0K – $1.15M
NOI $68,963 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,424
Businesses Nearby
Explore this area
Business Placement
Demographics for 10704, NY
32,426
Population
12,576
Households
2.6
Avg Household Size
42
Median Age
37%
College-Educated
88%
High-School Grad
2.7 sq mi
ZIP Area
12,010
Density / Sq Mi
$110,097
Median Household Income
$57,134
Median Earnings
$1,898
Median Rent
$508,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-level office property with private lower-level access, multiple offices, conference space, and on-site parking.
Where is this office building located?
The property is located at 15 Kimball Avenue Yonkers, NY.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Four private offices, conference room, reception area, and two bathrooms on the main level; Finished lower level with private entrance, four rooms, and a full bathroom; Private on‑site parking lot accommodates up to six vehicles
