Bronxville Mixed-Use
For Sale
$1,300,000
915 Palmer Ave Unit Bronxville, Yonkers, NY 10708
Medical/Professional Office and Residential mixed use
Property Size3,511 SF
Lot Size0.15 Acres
Price / SF$370.26
Days on Market335
Property Features for 915 Palmer Ave Unit Bronxville
General Information
Standard status
Active
Property type
Live-work space, Medical space, Other office properties, Mixed-use properties, Healthcare properties, Office Spaces
Size
3,511 SF
Net Rentable
3,511 SF
Class
B
Total Parking Spaces
4
Lot size
0.15 Acres
Building Details
Year Built
1911
Stories
4
Listing Agency:
RE/MAX Distinguished Hms.&Prop
Listed By:
Amanda Samuel · License #10301218788
(914) 589-8133
Added: Oct 6, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This multi-level building in Bronxville offers approximately 3,511 square feet of flexible-use space across four floors. Previously utilized as a medical home office, the layout can accommodate private offices, client meeting areas, treatment rooms, and living quarters. The property is located on a well-traveled street with a bus stop in front and is near the train station and Bronxville Village. The lot size is approximately 0.146 acres. The location provides access to the Bronx and Manhattan.
Key Highlights
- Close to train
- Close to highway
- Close to the Bronx
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
$66,358
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
5.10%
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%
$1,327,160
$1.3M
Cap Rate 7%
$947,971
$948.0K
Cap Rate 9%
$737,311
$737.3K
Market Conditions
NOI Build-Up for 3,511 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
$118.0K $33.60/SF
− Vacancy
−$11.8K −$3.36/SF
EGI
$106.2K $30.24/SF
− OpEx
−$39.8K −$11.34/SF
NOI
$66.4K $18.90/SF
Area
Yonkers, NY
Vacancy
10.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,327,160
Cap Rate 7%
$947,971
Cap Rate 9%
$737,311
Alternative Uses
Best Use
Mixed Use
$948.0K
$829.5K – $1.11M
NOI $66,358 @ 7.0% cap · market cap 5.10%
Second Best
Healthcare Medical
$797.4K
$697.7K – $930.3K
NOI $55,816 @ 7.0% cap · market cap 4.29%
Theoretical Best
Multifamily LT 5
$1.21M
$1.06M – $1.42M
NOI $84,958 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,626
Businesses Nearby
Explore this area
Business Placement
Demographics for 10708, NY
22,299
Population
10,004
Households
2.2
Avg Household Size
45
Median Age
65%
College-Educated
95%
High-School Grad
2.9 sq mi
ZIP Area
7,689
Density / Sq Mi
$121,107
Median Household Income
$80,556
Median Earnings
$2,161
Median Rent
$496,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Medical/Professional Office and Residential mixed use
Where is this live-work space located?
The property is located at 915 Palmer Ave Unit Bronxville Yonkers, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Close to train; Close to highway; Close to the Bronx
