Mixed-Use Property with Auto
For Sale
$1,600,000
914-920 Old Nepperhan Avenue, Yonkers, NY 10703
Commercial Sale, Yonkers, NY
Property Size5,500 SF
Lot Size0.19 Acres
Price / SF$290.91
Days on Market145
Property Features for 914-920 Old Nepperhan Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I
Rooms
Basement
Parking
10
Basement
Unfinished
Directions
Corner of Old Nepperhan and River Place. This property can show up at 914 - 920 Old Nepperhan Ave.
Standard status
Active
APN
1800-002-000-02389-000-0014
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
20334
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Oil
Water source
Public
Building Details
Year built
1985
Floors in Building
2
Number of units
4
Building materials
Brick
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(914) 277-5000
Listed By:
Keri Kenny · License #10401337125
(203) 524-8120
Added: Apr 1
Changed: Aug 20
Last Checked: Aug 23 at 11:06AM
MLS# 979866
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 two-building mixed-use property combines a vacant auto-body repair and storage facility with two occupied two-bedroom apartments. The property contains 5,500 square feet combined, including 3,500 square feet dedicated to automotive repair and storage and 2,000 square feet of residential space. A basement is also included, and the buildings were constructed in 1985 with brick construction.
Located at 914-920 Old Nepperhan Avenue in Yonkers, the property is zoned I for industrial use. Public water and public sewer serve the site, while cable service is available. Heating is provided by oil. The occupied apartments currently generate rental income, while the auto-body portion is vacant.
Located at 914-920 Old Nepperhan Avenue in Yonkers, the property is zoned I for industrial use. Public water and public sewer serve the site, while cable service is available. Heating is provided by oil. The occupied apartments currently generate rental income, while the auto-body portion is vacant.
Key Highlights
- 5,500 sf combined across two buildings
- 3,500 sf auto‑body repair and storage area
- 2,000 sf residential component with two 2‑bedroom 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
$133,087
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
8.32%
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%
$2,661,740
$2.7M
Cap Rate 7%
$1,901,243
$1.9M
Cap Rate 9%
$1,478,744
$1.5M
Market Conditions
NOI Build-Up for 5,500 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
$207.9K $37.80/SF
− Vacancy
−$17.8K −$3.23/SF
EGI
$190.1K $34.57/SF
− OpEx
−$57.0K −$10.37/SF
NOI
$133.1K $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%
$2,661,740
Cap Rate 7%
$1,901,243
Cap Rate 9%
$1,478,744
Alternative Uses
Best Use
Multifamily LT 5
$1.90M
$1.66M – $2.22M
NOI $133,087 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$1.75M
$1.53M – $2.04M
NOI $122,222 @ 7.0% cap · market cap 7.64%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
36.4%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
995
Businesses Nearby
Explore this area
Business Placement
Demographics for 10703, NY
22,571
Population
7,925
Households
2.8
Avg Household Size
39
Median Age
26%
College-Educated
80%
High-School Grad
1.6 sq mi
ZIP Area
14,107
Density / Sq Mi
$74,940
Median Household Income
$42,972
Median Earnings
$1,702
Median Rent
$477,500
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 - Two occupied apartments accompany a vacant automotive repair and storage building.
Where is this mixed-use property located?
The property is located at 914-920 Old Nepperhan Avenue Yonkers, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 5,500 sf combined across two buildings; 3,500 sf auto‑body repair and storage area; 2,000 sf residential component with two 2‑bedroom apartments
