Three-Story Mixed-Use
New
For Sale
$1,250,000
880 Midland Avenue, Yonkers, NY 10704
Commercial Sale, Yonkers, NY
Property Size3,201 SF
Price / SF$390.50
Days on Market4
Property Features for 880 Midland Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Paved or Surfaced, Driveway, Off Street
Appliances
ENERGY STAR Qualified Appliances
Lot features
Back Yard, Near Public Transit
Elementary school district
Contact Agent
Middle school district
Contact Agent
High school district
Contact Agent
Standard status
Active
Taxes and HOA fees
Tax Year
2026
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
fenced backyard
Building Details
Year built
1927
Floors in Building
3
Building materials
Aluminum Siding, Brick
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Zhen Chen · License #10401310107
(917) 815-1188
Added: Sep 16
Last Checked: Sep 19 at 3:06AM
MLS# 1051862
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 detached, three-story mixed-use building contains two residential apartments and one commercial storefront. The residential portion totals approximately 2,133 SF, while the commercial area comprises approximately 1,066 SF, for approximately 3,201 SF overall. Each apartment includes three bedrooms and one full bathroom. A fenced backyard complements the building, which was constructed in 1927 and is currently occupied by tenants.
The property is located at 880 Midland Avenue in Yonkers, 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 nearby. The site also offers access to major highways and is approximately 30 minutes by car from downtown Flushing, Queens.
The property is located at 880 Midland Avenue in Yonkers, 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 nearby. The site also offers access to major highways and is approximately 30 minutes by car from downtown Flushing, Queens.
Key Highlights
- Approximately 3,201 SF across residential and commercial areas
- Two residential units, each with 3 bedrooms and 1 full bathroom
- Approximately 1,066 SF of commercial storefront space
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
2
Residential units
Multi-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Detached building combining residential apartments with a ground-floor storefront and fenced outdoor space.
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 across residential and commercial areas; Two residential units, each with 3 bedrooms and 1 full bathroom; Approximately 1,066 SF of commercial storefront space
