Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    241 Broadway Yonkers, NY 10705-1351

    • Retail space
    • 7,456 SF
    • 0.18 lot acres
    OFF-MARKET
    Value Estimations
    $665,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2719586
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Break Rage / Adventure Sports / Entertainment Agency
    • Macara Express / Shipping Service
    • Tacos Plaza / Mexican Restaurant
    • Best Used Furniture / Home Goods Store / Used Furniture Store

    Property Details for 241 Broadway

    Year built
    1993
    Lot size
    0.18 lot acres
    Property size
    7,456 SF
    Zone code
    SB
    Property type
    Retail space
    APN
    551800 1.-208-9
    APU
    55180012089

    Description

    This exceptional 7,841 square foot vacant retail storefront, located at 241 S Broadway in Yonkers, NY, presents a compelling value-add investment opportunity. Situated on a 0.18-acre lot (65' x 120'), the property boasts 65 feet of prominent street frontage and provides six parking spaces. The single-story building features poured concrete floors designed for heavy weight distribution, making it suitable for a variety of retail or light industrial uses. The property is currently vacant, offering immediate occupancy and flexibility for the new owner. Zoned for restricted business use (BR District, residences excluded), this location in Southeast Yonkers' downtown area provides excellent visibility and accessibility. The total building square footage is 11,761 square feet, with 7,841 square feet of net rentable space. The property shares a driveway with the adjacent property to the south, enhancing convenience and accessibility. This is an ideal opportunity for an investor seeking a prime retail space in a thriving downtown location with significant potential for redevelopment or lease-up.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $610,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $717,000
      Market price range: $518k - $1.38M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $945,000
      Current use
      OFFICE BUILDING
      $885,000
      Change: -6% Conversion: Easy
      MEDICAL BUILDING
      $800,000
      Change: -15% Conversion: Difficult
      WAREHOUSE, STORAGE
      $790,000
      Change: -16% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Yonkers
    County
    Westchester
    State
    New York
    Longitude
    -73.896
    Latitude
    40.9257
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $31,891
    $9,400
    $19,500
    $28,900
    -
    $525,140
    $1,089,385
    $1,614,525

    Comparable in this City

    • 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
      $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
    • Value Estimation
      $920,000
      7,790 SF

      286 Broadway

      RETAIL STORES (PERSONAL SERVICES) • 7,790 SF
      286 Broadway, Yonkers, NY 10705-2026
      View Details
    • Value Estimation
      $1,065,000
      10,010 SF

      28 Romaine Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,010 SF
      28 Romaine Ave, Yonkers, NY 10705-2336
      View Details

    Similar Nearby for Sale

    • $925,000

      Yonkers Mixed-Use Commercial Property

      Versatile mixed-use property in the heart of Yonkers.
      349 S Broadway, Yonkers, NY 10705
      View Details
    • $2,750,000
      0.03 Acres

      Renovated Multifamily Property with Land

      Fully renovated 8-unit property with bonus land in Yonkers.
      127-131 Highland Ave, Yonkers, NY 10705
      View Details
    • $8,300,000
      0.16 Acres

      Yonkers Multifamily Property with Storefronts

      Well-maintained 22-unit building with elevator and two storefronts.
      490 S Broadway, Yonkers, NY 10705
      View Details
    • $1,750,000
      0.06 Acres

      Mixed-Use Building in Yonkers

      Seven-unit building with apartments and retail space for sale.
      153 Mclean Ave, Yonkers, NY 10705
      View Details
    • $1,800,000
      8,214 SF

      Yonkers Mixed-Use Building For Sale

      Mixed-use building with retail, warehouse, and industrial potential.
      377 Mclean Ave, Yonkers, NY 10705
      View Details
    • $90,000
      1,200 SF

      Garages and Parking Spaces Available

      Four garages and four parking spaces for sale in Yonkers.
      9 Morris Cres, Yonkers, NY 10705
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,620 SF

      Yonkers Retail Space: Broadway Gem

      High-traffic retail space, 1620 sq ft.
      359 Broadway, Yonkers, NY 10705
      View Details
    • Contact for pricing
      1,750 SF

      Yonkers Retail Space For Rent

      Retail space available in Yonkers with high foot traffic.
      465-473 S Broadway, Yonkers, NY 10705
      View Details
    • 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
    • $35 SF/Yr
      4,500 SF

      Yonkers Build-to-Suit Opportunity

      Prime Retail/Office Space Available
      371 Broadway, Yonkers, NY 10705
      View Details
    • $17,000 /Mo
      18,000 SF

      Versatile Warehouse Near Ludlow Station

      18,500+ sq ft warehouse space for lease near Ludlow Train Station.
      158 Ludlow St, Yonkers, NY 10705
      View Details
    • $37,000

      Yonkers Warehouse Space Available

      25,000+/- SF warehouse space for rent in Yonkers.
      16 Harrison 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.
    241 Broadway
    Yonkers, NY 10705-1351
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.