Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    245 247 251 & 253 Yonkers, NY 10705
    Back to Search
    Property profile & analytics

    245 247 251 & 253 Yonkers, NY 10705

    View on Map
    • Retail properties & Spaces
    • 11,520 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 245 247 251 & 253

    Property size
    11,520 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Description

    This exceptional redevelopment opportunity presents a portfolio of four buildings totaling 11,520 square feet situated on a prominent 130-foot frontage along South Broadway in Yonkers, New York. Currently operating at 100% occupancy with four separate tenants, the property offers immediate cash flow. Two leases are month-to-month, while two others extend to June 2026 and December 2028, providing a blend of short-term and long-term income streams. The buildings are zoned BR, allowing for a wide range of commercial uses including schools, restaurants, banks, medical offices, and theaters (refer to attached zoning documents for complete details on permitted and special permitted uses). This prime location in downtown Yonkers presents a unique chance to capitalize on a thriving commercial area. The asking price is $2,850,000, and the property is offered as a Net Net Net (NNN) lease. The buildings are individually addressed as 245, 247, 251, and 253 South Broadway, Yonkers, NY 10705, with SBL#s 1-208-11, 13, & 15. Residential use is not permitted in this zone. This is a first-time offering for sale.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Yonkers
    County
    Westchester
    State
    New York
    Longitude
    -73.8955
    Latitude
    40.9256

    Comparable in this City

    • Value Estimation by Request
      19,560 SF

      210 Broadway Ave

      Restaurants • 19,560 SF
      210 Broadway Ave, Yonkers, NY 10705
      View Details
    • Value Estimation
      $1,335,000
      10,112 SF

      303 Broadway

      RETAIL STORES (PERSONAL SERVICES) • 10,112 SF
      303 Broadway, Yonkers, NY 10705-2038
      View Details
    • Value Estimation
      $665,000
      7,456 SF

      241 Broadway

      RETAIL STORES (PERSONAL SERVICES) • 7,456 SF
      241 Broadway, Yonkers, NY 10705-1351
      View Details
    • Value Estimation
      $505,000
      6,880 SF

      12 Ludlow St

      RETAIL STORES (PERSONAL SERVICES) • 6,880 SF
      12 Ludlow St, Yonkers, NY 10705
      View Details
    • Value Estimation
      $3,100,000
      4,520 SF

      308 Broadway

      RETAIL STORES (PERSONAL SERVICES) • 4,520 SF
      308 Broadway, Yonkers, NY 10705-2049
      View Details
    • Value Estimation
      $635,000
      6,325 SF

      413 Riverdale Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,325 SF
      413 Riverdale Ave, Yonkers, NY 10705
      View Details

    Similar Nearby for Sale

    • $7,999,000
      0.16 Acres

      Yonkers Mixed-Use Property For Sale

      Mixed-use property in Yonkers with 22 units and 2 storefronts.
      490 S Broadway, Yonkers, NY 10705
      View Details
    • $1,090,000

      Yonkers Mixed-Use Investment Opportunity

      Mixed-use property in Yonkers with residential and commercial units.
      356 Riverdale Ave, Yonkers, NY 10705
      View Details
    • $1,090,000

      Yonkers Mixed-Use Investment Opportunity

      Mixed-use property with residential and commercial units in Yonkers.
      356 Riverdale Ave, Yonkers, NY 10705
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,250 SF

      Yonkers Retail Space Available

      2,250 SF retail space with ample parking in Yonkers.
      471 Mclean Ave, Yonkers, NY 10705
      View Details
    • Contact for pricing
      2,600 SF

      Yonkers Retail Space For Rent

      Retail space available in Yonkers with high foot traffic.
      465-473 S Broadway, Yonkers, NY 10705
      View Details
    • $11,000 /Mo

      Storage Facility Near Sawmill Parkway

      18,000 SF storage facility with high traffic exposure.
      1 Harrison Ave, Yonkers, NY 10705
      View Details
    • Contact for pricing

      Restaurant Space on South Broadway

      Restaurant space with two kitchens on a busy street.
      359 S Broadway, Yonkers, NY 10705
      View Details
    • Contact for pricing
      1,500 SF

      Updated 3-Bedroom Apartment

      Renovated 3-bedroom apartment near transportation, schools, and shopping.
      174 Sedgwick Ave, Yonkers, NY 10705
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    245 247 251 & 253
    Yonkers, NY 10705
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    245 247 251 & 253, Yonkers, NY, 10705
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!