Versatile Industrial and Office Spaces

161 Saw Mill River Road, Yonkers, NY 10701

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For Sale

$3,295,000

Multi-tenant industrial and office building with flexible spaces for sale.

Property size:

15,470 SF

Lot size:

0.62 Acres

Price / SF:

$212/SF

HighLights

Multi‑tenant building with 8+ separate spaces, offering diverse income streams
Industrial zoning (I District) allows for a wide range of business uses
Significant parking available: +\/-7,000 SF in front and additional parking
Includes both 3‑story office space with elevator and ground‑level industrial warehouse space
Each space has a separate bathroom and heater; tenants pay their own utilities
Rear yard access via enclosed driveway, providing additional storage or operational space (+\/-5,000 SF)

We can help!

Contact an agent

RAYMOND E. INELLO

For Sale

$3,295,000

Multi-tenant industrial and office building with flexible spaces for sale.

Property size:

15,470 SF

Lot size:

0.62 Acres

Price / SF:

$212/SF

Added:: Mar 23, 2026
Days on Market:: 98
Last Refresh:: Mar 23 at 8:09 pm

Property Features for 161 Saw Mill River Road

General Information

Standard status: Active
Size: 15,470 SF
Lot size: 0.62 Acres

Building Details

Year Built: 1950

We can help!

Contact an agent

RAYMOND E. INELLO

Listing office HOULIHAN & O'MALLEY R. E. SERV

Listing date Mar 23, 2026

Source Corcoran

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 HOULIHAN & O'MALLEY R. E. SERV

HighLights

Multi‑tenant building with 8+ separate spaces, offering diverse income streams
Industrial zoning (I District) allows for a wide range of business uses
Significant parking available: +\/-7,000 SF in front and additional parking
Includes both 3‑story office space with elevator and ground‑level industrial warehouse space
Each space has a separate bathroom and heater; tenants pay their own utilities
Rear yard access via enclosed driveway, providing additional storage or operational space (+\/-5,000 SF)

Overview

Located behind the U Haul Building on Saw Mill River Road, this property offers a 15,470 square foot building on a 27,036 square foot lot. The building is divided into two sections and features eight separate spaces, with the potential for more. The south side of the building includes a three-story section with an elevator. This section houses an HVAC tenant on the lower level, an auto visual company on the second floor, and a suite of 10 private offices on the third floor. The remainder of the building consists of first-floor industrial warehouse space. Each space is equipped with a separate bathroom and heater, and tenants are responsible for their own electric and gas utilities. The property includes approximately 7,000 square feet of parking in front and an additional approximately 5,000 square foot yard in the rear, accessible through an enclosed driveway at the north end. Additional parking is available in front of the building. Zoned I District – Industrial, the property's real estate taxes for 2025/26 are $24,001, with an assessment of $20,000.

Local Financial Insights For Flex RnD

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$408.4k	$26.40
− Vacancy	−$30.6k	−$1.98
EGI	$377.8k	$24.42
− OpEx	−$132.2k	−$8.55
NOI	$245.6k	$15.87

15,470 SF · lease $26.40/SF/yr · vacancy 7.50% · expense 35.00%

Alternative Uses

Best Use

Flex RnD

$3.51M

$3.07M – $4.09M (±1% cap)

NOI $245,555 @ 7.0% cap · market cap 7.45%

Second Best

Warehouse

$3.13M

$2.74M – $3.65M (±1% cap)

NOI $218,822 @ 7.0% cap · market cap 6.64%

Theoretical Best

Multifamily LT 5

$5.35M

$4.68M – $6.24M (±1% cap)

NOI $374,338 @ 7.0% cap · market cap 11.36%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Elite H. Renovation, ... Construction Company Metro Glass Corp General Contractor

Suggested Use

Similar Places Nearby

The Old Fashioned Cocktail Company — 252C Lake Ave, Yonkers, NY 10701

Location Insight

Map
Local Demand

City: Yonkers
County: Westchester
State: New York
Longitude: -73.882086
Latitude: 40.9432631

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For sale
Flex space
NY
Yonkers
10701
161 Saw Mill River Road

What type of property is this?

Flex space - Multi-tenant industrial and office building with flexible spaces for sale.

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 $3,295,000.

What are key features of this property?

This property features: Multi‑tenant building with 8+ separate spaces, offering diverse income streams; Industrial zoning (I District) allows for a wide range of business uses; Significant parking available: +\/-7,000 SF in front and additional parking