Flex Space with
For Sale
$2,995,000
161 Saw Mill River Road, Yonkers, NY 10701
A mix of industrial floor area and office suites is arranged across two building sections.
Property Size15,122 SF
Lot Size0.62 Acres
Price / SF$198.06
Days on Market216
Property Features for 161 Saw Mill River Road
General Information
Standard status
Active
Size
15,122 SF
Lot size
0.62 Acres
Property subtype
Commercial
Zoning
I District
Additional Details
Tenant in Place
Yes
Property Use
Industrial
Taxes and HOA fees
Annual Taxes
$4,359
Amenities
elevator
Building Details
Building Size
15,122 SF
Year Built
1950
Buildings
1
Listed By:
Gail Leone
(914) 723-8228
Source:
Clairedleone
Added: Mar 23
Changed: Oct 23
Last Checked: Oct 23 at 5:16PM
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 Gail Leone
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Investment Insights
Based on property information with market context.
Built in 1950, this flex property contains two sections: a three-story portion and ground-floor industrial warehouse space. The three-story area has an elevator, a lower-level tenant space, a second-floor suite, and 10 private offices on the third floor. The property is configured with 8 separate spaces, with potential for additional division. Each space has its own bathroom and heater, and tenants pay their own electric and gas costs.
The site covers 27,036 SF. Outdoor areas include an approximately 7,000 SF parking lot at the front and an approximately 5,000 SF rear yard, reached by an enclosed driveway at the north end. Additional parking is available in front of the building. The property is zoned I District – Industrial.
The site covers 27,036 SF. Outdoor areas include an approximately 7,000 SF parking lot at the front and an approximately 5,000 SF rear yard, reached by an enclosed driveway at the north end. Additional parking is available in front of the building. The property is zoned I District – Industrial.
Key Highlights
- Two building sections: three‑story space and first‑floor industrial warehouse area
- 8 separate spaces, with potential for additional division
- Elevator serves the three‑story section, which includes 10 private offices on the third floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$240,032
Cap Rate
8.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,800,640
$4.8M
Cap Rate 7%
$3,429,029
$3.4M
Cap Rate 9%
$2,667,022
$2.7M
Market Conditions
NOI Build-Up for 15,122 SF
Gross rent
$399.2K $26.40/SF
− Vacancy
−$29.9K −$1.98/SF
EGI
$369.3K $24.42/SF
− OpEx
−$129.2K −$8.55/SF
NOI
$240.0K $15.87/SF
Area
Yonkers, NY
Vacancy
7.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,800,640
Cap Rate 7%
$3,429,029
Cap Rate 9%
$2,667,022
Alternative Uses
Best Use
Flex RnD
$3.43M
$3.00M – $4.00M
NOI $240,032 @ 7.0% cap · market cap 8.01%
Second Best
Warehouse
$3.06M
$2.67M – $3.57M
NOI $213,900 @ 7.0% cap · market cap 7.14%
Theoretical Best
Multifamily LT 5
$5.23M
$4.57M – $6.10M
NOI $365,917 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,500
Businesses Nearby
Under-served
Demand for This Use
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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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Market
Vacancy Rate% for Industrial in Northeast region
Similar Off Market Nearby
- The Old Fashioned Cocktail Company — 252C Lake Ave, Yonkers, NY 10701
Frequently Asked Questions
What type of property is this?
Flex space - A mix of industrial floor area and office suites is arranged across two building sections.
Where is this flex space located?
The property is located at 161 Saw Mill River Road Yonkers, NY.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Two building sections: three‑story space and first‑floor industrial warehouse area; 8 separate spaces, with potential for additional division; Elevator serves the three‑story section, which includes 10 private offices on the third floor
