Mixed-Use Property with
For Sale
$2,050,000
86 McLean and 2 - 6 Cornell Avenue, Yonkers, NY 10705
Commercial Sale, Yonkers, NY
Property Size6,360 SF
Lot Size0.30 Acres
Price / SF$322.33
Days on Market171
Property Features for 86 McLean and 2 - 6 Cornell Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
A
Rooms
Basement
Parking
30
Parking features
Off Street, Parking Lot, Driveway, Oversize, Assigned
Security features
Security Lighting
Fencing
Fenced
Basement
Storage Space, Unfinished
Lot features
Back Yard, Corner Lot, Irregular Lot, Level, Paved, Private, Restrictions
Directions
Park Hill, Yonkers
Standard status
Active
APN
1800-001-000-00111-000-0008
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
28600
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Electric (Heating), Radiant
Cooling system
Wall/Window Unit(s), Electric, Multi Units, Window Unit(s)
Water source
Public
Amenities
gated parking lot
high-quality fencing
security system
Building Details
Year built
1965
Number of units
6
Building materials
Block
Additional Structures
Residence
Listing Agency:
Keller Williams Realty Group
(914) 713-3270
Listed By:
Marina Suh · License #10401315312
(914) 830-2087
Added: Mar 4
Changed: Aug 20
Last Checked: Aug 22 at 2:06PM
MLS# 968651
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use offering combines two buildings and an adjacent lot across 86 McLean Avenue, 2 Cornell Avenue, and 6 Cornell Avenue in Yonkers. The property totals approximately 6,360 square feet on 0.30 acres and includes four commercial units plus two residential apartments, configured as a one-bedroom unit with office space and a two-bedroom unit. Both apartments are described as updated and well maintained.
A gated parking lot accommodates approximately 30 vehicles and is secured by fencing and a security system. Separate utility service includes six electric meters and two water meters, with public water and public sewer. The buildings date to 1965 and are constructed of block. The property is situated in a high-traffic area near single-family homes, multifamily residences, and an active commercial corridor.
A gated parking lot accommodates approximately 30 vehicles and is secured by fencing and a security system. Separate utility service includes six electric meters and two water meters, with public water and public sewer. The buildings date to 1965 and are constructed of block. The property is situated in a high-traffic area near single-family homes, multifamily residences, and an active commercial corridor.
Key Highlights
- Three tax lots sold together at 86 McLean Avenue, 2 Cornell Avenue, and 6 Cornell Avenue
- Approximately 6,360 square feet on 0.30 acres
- Four commercial units and two residential apartments
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
$141,333
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
6.89%
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%
$2,826,660
$2.8M
Cap Rate 7%
$2,019,043
$2.0M
Cap Rate 9%
$1,570,367
$1.6M
Market Conditions
NOI Build-Up for 6,360 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
$282.4K $44.40/SF
− Vacancy
−$25.4K −$4.00/SF
EGI
$257.0K $40.40/SF
− OpEx
−$115.6K −$18.18/SF
NOI
$141.3K $22.22/SF
Area
Yonkers, NY
Vacancy
9.00%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$2,826,660
Cap Rate 7%
$2,019,043
Cap Rate 9%
$1,570,367
Alternative Uses
Best Use
Apartment 5plus
$2.02M
$1.77M – $2.36M
NOI $141,333 @ 7.0% cap · market cap 6.89%
Second Best
Mixed Use
$1.72M
$1.50M – $2.00M
NOI $120,204 @ 7.0% cap · market cap 5.86%
Theoretical Best
Multifamily LT 5
$2.20M
$1.92M – $2.56M
NOI $153,897 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,539
Businesses Nearby
Explore this area
Business Placement
Demographics for 10705, NY
41,785
Population
15,620
Households
2.7
Avg Household Size
36
Median Age
30%
College-Educated
79%
High-School Grad
2.2 sq mi
ZIP Area
18,993
Density / Sq Mi
$68,616
Median Household Income
$40,717
Median Earnings
$1,602
Median Rent
$445,600
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 - Three tax lots combine commercial space, updated apartments, and a gated off-street parking area.
Where is this mixed-use property located?
The property is located at 86 McLean and 2 - 6 Cornell Avenue Yonkers, NY.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: Three tax lots sold together at 86 McLean Avenue, 2 Cornell Avenue, and 6 Cornell Avenue; Approximately 6,360 square feet on 0.30 acres; Four commercial units and two residential apartments
