Yonkers Industrial Warehouse with
For Sale
Contact for pricing
229 S Waverly St, Yonkers, NY 10701
Industrial warehouse with office space and on-site parking.
Property Size6,000 SF
Price / SF$299
Days on Market189
Property Features for 229 S Waverly St
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Industrial
Investment Type
Owner/User
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
South Bronx Commercial Real Estate
(914) 907-3858
Listed By:
Augusto De la Cruz · License #10301224887
Source:
Crexi
Added: Feb 12
Changed: Aug 12
Last Checked: Aug 20 at 5:12AM
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 South Bronx Commercial Real Estate
Investment Insights
Based on property information with market context.
This industrial warehouse building in Yonkers features a ground-floor warehouse and second-floor office space. On-site parking is available, suitable for loading, staging, and daily operations. Currently used as an HVAC business warehouse, the property is well-suited for contractors and service-based users. The property's layout and location near Downtown Yonkers offer accessibility and a practical setup for various industrial uses. The property has a size of 6000 square feet.
Key Highlights
- Ground‑floor warehouse with second‑floor office space
- On‑site parking ideal for loading, staging, and daily operations
- Well‑suited for contractors and service‑based users
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
$84,870
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
4.72%
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%
$1,697,400
$1.7M
Cap Rate 7%
$1,212,429
$1.2M
Cap Rate 9%
$943,000
$943.0K
Market Conditions
NOI Build-Up for 6,000 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
$106.6K $17.76/SF
− Vacancy
−$6.7K −$1.12/SF
EGI
$99.8K $16.64/SF
− OpEx
−$15.0K −$2.50/SF
NOI
$84.9K $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%
$1,697,400
Cap Rate 7%
$1,212,429
Cap Rate 9%
$943,000
Alternative Uses
Best Use
Warehouse
$1.21M
$1.06M – $1.41M
NOI $84,870 @ 7.0% cap · market cap 4.72%
Second Best
Office B
$968.7K
$847.6K – $1.13M
NOI $67,811 @ 7.0% cap · market cap 3.77%
Theoretical Best
Multifamily LT 5
$2.07M
$1.81M – $2.42M
NOI $145,186 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,846
Businesses Nearby
Under-served
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with office space and on-site parking.
Where is this warehouse located?
The property is located at 229 S Waverly St Yonkers, NY.
What is the asking price?
The asking price for this property is $1,799,999.
What are key features of this property?
This property features: Ground‑floor warehouse with second‑floor office space; On‑site parking ideal for loading, staging, and daily operations; Well‑suited for contractors and service‑based users
