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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    471 Mclean Ave Yonkers, NY 10705

    • Investment properties
    • 9,975 SF
    • 0.36 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1363735
    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

    • Domino's Pizza / Restaurant
    • 7-Eleven / Grocery & Convenience Store
    • BoxDrop Furniture and Mattress Yonkers / Furniture & Home Goods / Home Decor Store
    • Amazon Locker - Amour / Postal Service / Courier Service

    Property Details for 471 Mclean Ave

    Year built
    1963
    Lot size
    0.36 lot acres
    Property size
    9,975 SF
    Zone code
    B
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    551800 1.-65-1.100
    APU
    5518001651100

    Description

    This exceptional 5,000 square foot single-tenant space, located at 471 McLean Avenue in Yonkers, NY, presents a unique opportunity for a variety of businesses. Situated in a freestanding building on a busy thoroughfare between Sedgwick Avenue and Tibbetts Road, this basement retail space offers unparalleled convenience and visibility. The property boasts 40 parking spaces and excellent signage opportunities, ensuring high traffic and accessibility. The building enjoys a prime location with easy access to the Saw Mill River Parkway and I-87 (Major Deegan Expressway), enhancing its appeal to a wide range of potential tenants. This is the last available space in the building, making it a highly sought-after opportunity. The space itself is versatile and adaptable, suitable for various uses including light industrial/manufacturing, storage, assembly, general retail, medical, dental, urgent care, financial services, fitness, and theater/entertainment. The interior features a reception area, partitioned offices, a conference room, a print/copy area, and private ADA-compliant restrooms. Safety and security are ensured with emergency lighting and a security system already in place. Co-tenants include established businesses such as 7-Eleven and Domino's Pizza, further enhancing the location's desirability. This property offers a rare combination of size, location, amenities, and versatility, making it an ideal investment for a discerning business owner. The Westchester County location and 10705 zip code add to its appeal.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,140,000
      6.5%
      $2,900,000
      7%
      $2,695,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,040,000
      Market price range: $1.46M - $4.04M
      AI Estimate
      $2,146,000
      Market price range: $746k - $2.28M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,030,000
      Current use
      AUTO REPAIR, GARAGE
      $4,975,000
      Change: +64% Conversion: Difficult
      OFFICE BUILDING
      $3,500,000
      Change: +16% Conversion: Easy
      WAREHOUSE, STORAGE
      $3,025,000
      Change: -0% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Yonkers
    County
    Westchester
    State
    New York
    Longitude
    -73.8828
    Latitude
    40.9105
    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
    $56,143
    $27,600
    $27,600
    $55,200
    -
    $1,541,899
    $1,541,899
    $3,083,798

    Comparable in this City

    • Value Estimation
      $1,155,000
      5,760 SF

      245 Broadway

      STORE/OFFICE (MIXED USE) • 5,760 SF
      245 Broadway, Yonkers, NY 10705-1351
      View Details
    • Value Estimation
      $1,025,000
      5,170 SF

      367 Broadway

      STORE/OFFICE (MIXED USE) • 5,170 SF
      367 Broadway, Yonkers, NY 10705-2039
      View Details
    • Value Estimation
      $1,405,000
      5,760 SF

      439 Broadway

      STORE/OFFICE (MIXED USE) • 5,760 SF
      439 Broadway, Yonkers, NY 10705-2338
      View Details
    • Value Estimation
      $1,370,000
      8,400 SF

      211 Mclean Ave

      STORE/OFFICE (MIXED USE) • 8,400 SF
      211 Mclean Ave, Yonkers, NY 10705-4419
      View Details
    • Value Estimation by Request
      780 SF

      407 Riverdale Ave

      STORE/OFFICE (MIXED USE) • 780 SF
      407 Riverdale Ave, Yonkers, NY 10705
      View Details
    • Value Estimation
      $545,000
      2,652 SF

      237 Mclean Ave

      STORE/OFFICE (MIXED USE) • 2,652 SF
      237 Mclean Ave, Yonkers, NY 10705-4419
      View Details

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      Mixed-Use Building in Yonkers

      Seven-unit building with apartments and retail space for sale.
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    471 Mclean Ave
    Yonkers, NY 10705
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    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
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