440 Nepperhan AveYonkers, NY 10701

Property Details for 440 Nepperhan Ave

Year built

1955

Lot size

0.83 AC

Property size (Sq ft)

30,000 SF

Zone code

I

Property type

Industrial properties

Property subtype

Distribution centers

APN

551800 2.-2073-30

APU

5518002207330

Description

This exceptional 60,000 square foot industrial warehouse at 440 Nepperhan Ave in Yonkers, NY, presents a significant investment opportunity. The Class B building boasts post and beam construction and is zoned for heavy industrial use, offering considerable flexibility for a variety of businesses. The property features a shared loading dock and an internal lift, ensuring efficient operations. The building is fully sprinklered, enhancing safety and security. Property taxes are exceptionally low at $30,797 annually. The two-story structure offers diverse space options; the lower level provides 9-foot ceilings, while the upper level features 14-foot ceilings and higher. Currently, there are nine rental units, two of which are occupied by the current owners and will be vacated upon sale. The current annual gross rent is $342,452.04. A conservative pro forma projection indicates a potential increase in annual gross rent to $674,042.04, based on leasing the owner-occupied spaces at the average market rate of the existing tenants. With 40,000 square feet currently vacant, this property offers immediate potential for significant rental income growth. This property, historically part of the Alexander Smith Carpet Mills complex, represents a rare opportunity to acquire a well-located, versatile industrial space in a thriving market.

• Alternative Use

  Use

  Valuation

  Residential

  $5,677,174

  Hospitality

  $5,200,260

  Educational

  $4,326,556

  Medical

  $4,475,352

  Retail

  $6,730,198

Location Insight

City

Yonkers

County

Westchester

State

New York

Latitude

40.9409

Longitude

-73.8848

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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