Three-Story Mixed-Use
New
For Sale
$1,250,000
880 Midland Avenue, Yonkers, NY 10704
Detached building combining residential units, a commercial storefront, and a fenced backyard.
Property Size3,201 SF
Price / SF$390.50
Days on Market4
Property Features for 880 Midland Avenue
General Information
Standard status
Active
Size
3,201 SF
Property subtype
Mixed Use
Additional Details
Highway Access
Yes
Building Details
Building Size
3,201 SF
Year Built
1927
Buildings
1
Stories
3
Listing Agency:
E Realty International Corp
Listed By:
Zhen Chen · License #10401310107
(917) 815-1188
Source:
Shawmetro
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 18 at 3:20PM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This detached, three-story mixed-use property contains approximately 3,201 SF, with approximately 2,133 SF devoted to residential space and 1,066 SF configured for commercial use. The residential component includes two units, each with 3 bedrooms and 1 full bathroom, while the ground-level commercial component provides a storefront. A fenced backyard adds outdoor space, and the building was constructed in 1927. The property is currently occupied by tenants.
Located at 880 Midland Avenue in Yonkers, the property is near shopping, dining, transportation, and everyday amenities. Empire City Casino is approximately 5 minutes away by car, with Macy’s and the Cross County shopping district also nearby. The location offers access to major highways and is approximately 30 minutes by car from downtown Flushing, Queens.
Located at 880 Midland Avenue in Yonkers, the property is near shopping, dining, transportation, and everyday amenities. Empire City Casino is approximately 5 minutes away by car, with Macy’s and the Cross County shopping district also nearby. The location offers access to major highways and is approximately 30 minutes by car from downtown Flushing, Queens.
Key Highlights
- Approximately 3,201 SF mixed‑use building with 2,133 SF residential and 1,066 SF commercial space
- Two residential units, each with 3 bedrooms and 1 full bathroom
- Commercial storefront included in the building
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
$77,457
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
6.20%
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%
$1,549,140
$1.5M
Cap Rate 7%
$1,106,529
$1.1M
Cap Rate 9%
$860,633
$860.6K
Market Conditions
NOI Build-Up for 3,201 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
$121.0K $37.80/SF
− Vacancy
−$10.3K −$3.23/SF
EGI
$110.7K $34.57/SF
− OpEx
−$33.2K −$10.37/SF
NOI
$77.5K $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%
$1,549,140
Cap Rate 7%
$1,106,529
Cap Rate 9%
$860,633
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$968.2K – $1.29M
NOI $77,457 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$1.02M
$889.2K – $1.19M
NOI $71,133 @ 7.0% cap · market cap 5.69%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Explore this area
Business Placement
Demographics for 10704, NY
32,426
Population
12,576
Households
2.6
Avg Household Size
42
Median Age
37%
College-Educated
88%
High-School Grad
2.7 sq mi
ZIP Area
12,010
Density / Sq Mi
$110,097
Median Household Income
$57,134
Median Earnings
$1,898
Median Rent
$508,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Detached building combining residential units, a commercial storefront, and a fenced backyard.
Where is this mixed-use property located?
The property is located at 880 Midland Avenue Yonkers, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Approximately 3,201 SF mixed‑use building with 2,133 SF residential and 1,066 SF commercial space; Two residential units, each with 3 bedrooms and 1 full bathroom; Commercial storefront included in the building
