Mixed-Use Property in
For Sale
$1,600,000
914-920 Old Nepperhan Avenue, Yonkers, NY 10703
Mixed-use property with auto-body shop and residential units.
Property Size5,500 SF
Price / SF$290.91
Days on Market138
Property Features for 914-920 Old Nepperhan Avenue
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$20,334
Amenities
Oil Heating
Building Details
Year Built
1985
Listing Agency:
COLDWELL BANKER REALTY
(914) 277-5000
Listed By:
KERI KENNY · License #10401337125
Source:
Corcoran
Added: Apr 6
Changed: Aug 21
Last Checked: Aug 21 at 7:46AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This mixed-use property is located in the center of Yonkers' historic industrial corridor. The property features a vacant auto-body shop and two occupied two-bedroom apartments that generate rental income. The property consists of two buildings zoned "I" (Industrial), with a combined area of 5,500 square feet. The auto-body repair and storage area occupies 3,500 square feet, while the residential space accounts for 2,000 square feet. This property is suitable for investors or owner-users.
Key Highlights
- Mixed‑use property featuring both industrial and residential spaces.
- Vacant 3,500 sf auto‑body shop/storage space ready for immediate use or lease.
- Zoned "I" (Industrial) offering versatile usage options.
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
$107,415
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
6.71%
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%
$2,148,300
$2.1M
Cap Rate 7%
$1,534,500
$1.5M
Cap Rate 9%
$1,193,500
$1.2M
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
$165.0K $30.00/SF
− Vacancy
−$11.6K −$2.10/SF
EGI
$153.5K $27.90/SF
− OpEx
−$46.0K −$8.37/SF
NOI
$107.4K $19.53/SF
Area
Yonkers, NY
Vacancy
7.00%
Lease Rate
$30.00 /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%
$2,148,300
Cap Rate 7%
$1,534,500
Cap Rate 9%
$1,193,500
Alternative Uses
Best Use
Retail
$1.53M
$1.34M – $1.79M
NOI $107,415 @ 7.0% cap · market cap 6.71%
Second Best
Mixed Use
$1.48M
$1.30M – $1.73M
NOI $103,950 @ 7.0% cap · market cap 6.50%
Theoretical Best
Multifamily LT 5
$1.90M
$1.66M – $2.22M
NOI $133,087 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 Retail 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 auto-body shop and residential units.
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: Mixed‑use property featuring both industrial and residential spaces.; Vacant 3,500 sf auto‑body shop/storage space ready for immediate use or lease.; Zoned "I" (Industrial) offering versatile usage options.
