Industrial Flex
For Sale
Contact for pricing
691 Saw Mill River Rd., Yonkers, NY 10710
Newly renovated flex warehouse offering approximately 21' ceiling heights and quick access to I-87.
Property Size6,000 SF
Price / SF$308.33
Days on Market53
Property Features for 691 Saw Mill River Rd.
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Office, Industrial
Additional Details
Highway Access
Yes
Clear Height
21 ft
Building Details
Stories
2
Listing Agency:
New York Commercial Realty Group
Listed By:
Michael Rao · License #NY 49RA1156551
Source:
Crexi
Added: Jul 16
Changed: Aug 26
Last Checked: Sep 1 at 11:43AM
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 New York Commercial Realty Group
Investment Insights
Based on property information with market context.
This industrial flex warehouse offers approximately 6,000 square feet of space and is newly renovated with recent property upgrades. The warehouse features approximately 21' ceiling heights, supporting a range of light industrial and distribution-style uses.
The property is located at 691 Saw Mill River Rd. in Yonkers, NY, and is less than one mile to I-87, providing convenient highway access.
For sale, this renovated flex warehouse is positioned for tenants and buyers seeking a warehouse facility with meaningful height and modernized building improvements.
The property is located at 691 Saw Mill River Rd. in Yonkers, NY, and is less than one mile to I-87, providing convenient highway access.
For sale, this renovated flex warehouse is positioned for tenants and buyers seeking a warehouse facility with meaningful height and modernized building improvements.
Key Highlights
- +/- 21' ceiling heights in the warehouse
- Newly renovated with recent property upgrades
- ±6,000 SF industrial flex warehouse
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
$95,238
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
5.15%
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%
$1,904,760
$1.9M
Cap Rate 7%
$1,360,543
$1.4M
Cap Rate 9%
$1,058,200
$1.1M
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
$158.4K $26.40/SF
− Vacancy
−$11.9K −$1.98/SF
EGI
$146.5K $24.42/SF
− OpEx
−$51.3K −$8.55/SF
NOI
$95.2K $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 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%
$1,904,760
Cap Rate 7%
$1,360,543
Cap Rate 9%
$1,058,200
Alternative Uses
Best Use
Flex RnD
$1.36M
$1.19M – $1.59M
NOI $95,238 @ 7.0% cap · market cap 5.15%
Second Best
Warehouse
$1.21M
$1.06M – $1.41M
NOI $84,870 @ 7.0% cap · market cap 4.59%
Theoretical Best
Multifamily LT 5
$2.07M
$1.81M – $2.42M
NOI $145,186 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
817
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10710, NY
26,725
Population
10,107
Households
2.6
Avg Household Size
46
Median Age
44%
College-Educated
91%
High-School Grad
4.6 sq mi
ZIP Area
5,810
Density / Sq Mi
$100,783
Median Household Income
$58,949
Median Earnings
$1,797
Median Rent
$534,000
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Newly renovated flex warehouse offering approximately 21' ceiling heights and quick access to I-87.
Where is this flex space located?
The property is located at 691 Saw Mill River Rd. Yonkers, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: +/- 21' ceiling heights in the warehouse; Newly renovated with recent property upgrades; ±6,000 SF industrial flex warehouse
