Mixed-Use Building with Diner
For Sale
Contact for pricing
Pending
775 Nepperhan Avenue, Yonkers, NY 10710
Mixed-use property with three apartments, an owner-operated laundry, and two ground-floor commercial units anchored by a long-running diner.
Property Size4,520 SF
Days on Market129
Property Features for 775 Nepperhan Avenue
General Information
Standard status
Pending
Size
4,520 SF
Class
C
Property subtype
Retail, Multifamily, Mixed Use
Zoning
I
Occupancy
80%
Investment Type
Value Add
Additional Details
Multifamily Units
3
Building Details
Year Built
1969
Buildings
1
Stories
3
Units
5
Tenancy
Multi
Listing Agency:
NuRealty Advisors
Listed By:
Michael Nuhko · License #NY10311203305
Source:
Crexi
Added: Apr 29
Changed: Aug 8
Last Checked: Jul 25 at 2:13PM
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 NuRealty Advisors
Investment Insights
Based on property information with market context.
This free-market mixed-use property at 775 Nepperhan Avenue includes three residential apartments: one 1-bedroom unit and two 3-bedroom units. The building also has an owner-operated laundry room. There are two ground-floor commercial units, with one occupied by a diner that has operated for more than 20 years, and the second commercial unit currently vacant and actively listed for rent.
Residential tenants are on month-to-month leases, which may allow a new owner to adjust rents upon renewal. The commercial anchor provides established tenancy, and the remark notes that all tenants pay their own utilities.
According to the provided figures, the current gross income is $104,833, which is below the stated market gross income of $153,433—an approximately $50,000 gap. The listing frames this as nearly 47% in-place rental upside.
Residential tenants are on month-to-month leases, which may allow a new owner to adjust rents upon renewal. The commercial anchor provides established tenancy, and the remark notes that all tenants pay their own utilities.
According to the provided figures, the current gross income is $104,833, which is below the stated market gross income of $153,433—an approximately $50,000 gap. The listing frames this as nearly 47% in-place rental upside.
Key Highlights
- 1969‑built mixed‑use property in Yonkers, NY with three apartments and two ground‑floor commercial units
- Residential mix: 1 one‑bedroom apartment and 2 three‑bedroom apartments
- Commercial space includes a long‑standing diner with over 20 years of operating history, plus a second ground‑floor unit currently vacant
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
$85,428
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
8.25%
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%
$1,708,560
$1.7M
Cap Rate 7%
$1,220,400
$1.2M
Cap Rate 9%
$949,200
$949.2K
Market Conditions
NOI Build-Up for 4,520 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
$151.9K $33.60/SF
− Vacancy
−$15.2K −$3.36/SF
EGI
$136.7K $30.24/SF
− OpEx
−$51.3K −$11.34/SF
NOI
$85.4K $18.90/SF
Area
Yonkers, NY
Vacancy
10.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,708,560
Cap Rate 7%
$1,220,400
Cap Rate 9%
$949,200
Alternative Uses
Best Use
Multifamily LT 5
$1.56M
$1.37M – $1.82M
NOI $109,373 @ 7.0% cap · market cap 10.57%
Second Best
Apartment 5plus
$1.43M
$1.26M – $1.67M
NOI $100,444 @ 7.0% cap · market cap 9.70%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,299
Businesses Nearby
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with three apartments, an owner-operated laundry, and two ground-floor commercial units anchored by a long-running diner.
Where is this mixed-use property located?
The property is located at 775 Nepperhan Avenue Yonkers, NY.
What is the asking price?
The asking price for this property is $1,035,000.
What are key features of this property?
This property features: 1969‑built mixed‑use property in Yonkers, NY with three apartments and two ground‑floor commercial units; Residential mix: 1 one‑bedroom apartment and 2 three‑bedroom apartments; Commercial space includes a long‑standing diner with over 20 years of operating history, plus a second ground‑floor unit currently vacant
