Mixed-Use Auto Body
For Sale
$1,600,000
Pending
445 OLD NEPPERHAN AVE, Yonkers, NY 10703
Two-building property includes a vacant auto-body shop and two occupied two-bedroom apartments generating rental income.
Property Size5,500 SF
Days on Market155
Property Features for 445 OLD NEPPERHAN AVE
General Information
Standard status
Pending
Size
5,500 SF
Property subtype
Mixed Use
Zoning
I
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$20,334
Amenities
3
10 Parking Spaces.
Building Details
Year Built
1985
Listing Agency:
Coldwell Banker Realty
(914) 277-5000
Listed By:
Keri Kenny · License #10401337125
(203) 524-8120
Source:
Xome
Added: Apr 3
Changed: Sep 4
Last Checked: Sep 4 at 2:17AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This mixed-use, two-building property is currently set up as a vacant auto-body shop with residential income from two occupied two-bedroom apartments. The property is zoned “I” (Industrial).
The combined building total is approximately 5,500 square feet, consisting of about 3,500 square feet devoted to auto-body repair and storage and approximately 2,000 square feet for residential use.
For investors or owner-users, the asset provides an industrially zoned operating component alongside income-producing residential units under one ownership structure.
The combined building total is approximately 5,500 square feet, consisting of about 3,500 square feet devoted to auto-body repair and storage and approximately 2,000 square feet for residential use.
For investors or owner-users, the asset provides an industrially zoned operating component alongside income-producing residential units under one ownership structure.
Key Highlights
- Two‑building mixed‑use property in Yonkers’ historic industrial corridor
- Vacant auto‑body shop setup plus 2 occupied 2‑bedroom apartments generating rental income
- Total 5,500 SF combined: 3,500 SF auto‑body repair and storage, 2,000 SF residential
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
$133,087
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
8.32%
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%
$2,661,740
$2.7M
Cap Rate 7%
$1,901,243
$1.9M
Cap Rate 9%
$1,478,744
$1.5M
Market Conditions
NOI Build-Up for 5,500 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
$207.9K $37.80/SF
− Vacancy
−$17.8K −$3.23/SF
EGI
$190.1K $34.57/SF
− OpEx
−$57.0K −$10.37/SF
NOI
$133.1K $24.20/SF
Area
Yonkers, NY
Vacancy
8.55%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
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%
$2,661,740
Cap Rate 7%
$1,901,243
Cap Rate 9%
$1,478,744
Alternative Uses
Best Use
Multifamily LT 5
$1.90M
$1.66M – $2.22M
NOI $133,087 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$1.75M
$1.53M – $2.04M
NOI $122,222 @ 7.0% cap · market cap 7.64%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
894
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10703, NY
22,571
Population
7,925
Households
2.8
Avg Household Size
39
Median Age
26%
College-Educated
80%
High-School Grad
1.6 sq mi
ZIP Area
14,107
Density / Sq Mi
$74,940
Median Household Income
$42,972
Median Earnings
$1,702
Median Rent
$477,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Almeida's Auto Body of Yonkers — 165 Orchard St, Yonkers, NY 10703
- Gas Tow Truck Service — 578 nepperhan ave, yonkers, ny 10701
- No Limit Yonkers Auto Body Shop — 254 Saw Mill River Rd, Yonkers, NY 10701
- Sassone Brothers Auto Body Inc — 254 saw mill river rd, yonkers, ny 10701
- Black Rock Truck Group — 257 Lake Ave, Yonkers, NY 10701
Frequently Asked Questions
What type of property is this?
Auto shop - Two-building property includes a vacant auto-body shop and two occupied two-bedroom apartments generating rental income.
Where is this auto shop located?
The property is located at 445 OLD NEPPERHAN AVE Yonkers, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Two‑building mixed‑use property in Yonkers’ historic industrial corridor; Vacant auto‑body shop setup plus 2 occupied 2‑bedroom apartments generating rental income; Total 5,500 SF combined: 3,500 SF auto‑body repair and storage, 2,000 SF residential
