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

    483 Van Cortlandt Park Ave Yonkers, NY 10705-3334

    • Investment properties
    • 3,549 SF
    • 0.05 lot acres
    OFF-MARKET
    Value Estimations
    $740,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0099990
    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

    • Buy Weed Online - Delivery Online / Cannabis Store

    Property Details for 483 Van Cortlandt Park Ave

    Year built
    1920
    Lot size
    0.05 lot acres
    Property size
    3,549 SF
    Zone code
    A
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    551800 1.-40-8
    APU
    5518001408

    Description

    This exceptional 375-square-foot retail shop is situated at the highly visible corner of Van Cortlandt Park Avenue and Lawrence Street in Yonkers, NY 10705. Its single-tenant occupancy offers a unique opportunity for a variety of businesses. The property benefits from significant foot and vehicle traffic due to its prominent corner location, ensuring maximum exposure to potential customers. Its convenient location, just blocks from schools and parks, makes it easily accessible to families, students, and professionals. The proximity to the bustling McLean Avenue area further enhances its appeal, placing it within a vibrant and active community. The versatile layout of the space allows for adaptability to suit a range of retail concepts, from specialty boutiques and shops to service-oriented businesses. The friendly and walkable neighborhood, with a mix of residential homes and small businesses, fosters a strong sense of community and provides a welcoming environment for both businesses and customers. This property presents a rare opportunity to establish a thriving retail presence in a desirable and high-traffic area of Yonkers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $485,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,120,000
      6.5%
      $1,030,000
      7%
      $960,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $959,000
      Market price range: $520k - $1.44M
      AI Estimate
      $482,000
      Market price range: $265k - $812k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,080,000
      Current use
      WAREHOUSE, STORAGE
      $1,075,000
      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
    -73.8929
    Latitude
    40.9162
    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
    $13,103
    $1,800
    $10,600
    $12,400
    -
    $100,559
    $592,179
    $692,738

    Comparable in this City

    • Value Estimation
      $1,665,000
      11,955 SF

      26 Lawrence St

      OFFICE/RESIDENTIAL (MIXED USE) • 11,955 SF
      26 Lawrence St, Yonkers, NY 10705-3236
      View Details
    • Value Estimation
      $1,370,000
      7,169 SF

      251 Mclean Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 7,169 SF
      251 Mclean Ave, Yonkers, NY 10705-4492
      View Details
    • Value Estimation
      $575,000
      1,920 SF

      462 Broadway

      OFFICE/RESIDENTIAL (MIXED USE) • 1,920 SF
      462 Broadway, Yonkers, NY 10705-2340
      View Details
    • Value Estimation
      $955,000
      3,534 SF

      364 Broadway

      OFFICE/RESIDENTIAL (MIXED USE) • 3,534 SF
      364 Broadway, Yonkers, NY 10705-2049
      View Details
    • Value Estimation
      $575,000
      1,920 SF

      458 Broadway

      OFFICE/RESIDENTIAL (MIXED USE) • 1,920 SF
      458 Broadway, Yonkers, NY 10705-2340
      View Details
    • Value Estimation by Request
      1,090 SF

      127 Downing St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,090 SF
      127 Downing St, Yonkers, NY 10705
      View Details

    Similar Nearby for Sale

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      10-unit multifamily property in Yonkers with significant investment potential.
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      Yonkers Mixed-Use Building For Sale

      Mixed-use building with retail, warehouse, and industrial potential.
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    • $500,000
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      Yonkers retail investment opportunity.
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      Yonkers Mixed-Use Commercial Property

      Versatile mixed-use property in the heart of Yonkers.
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    • $1,750,000
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      Mixed-Use Building in Yonkers

      Seven-unit building with apartments and retail space for sale.
      153 Mclean Ave, Yonkers, NY 10705
      View Details
    • $499,000
      1.02 Acres

      Yonkers Land with Views

      Residential land in Yonkers, with potential for a dream home.
      223 Glenbrook Ave, Yonkers, NY 10705
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    Similar Nearby for Lease

    • $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
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      Yonkers Warehouse Space Available

      25,000+/- SF warehouse space for rent in Yonkers.
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      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
    • 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
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    483 Van Cortlandt Park Ave
    Yonkers, NY 10705-3334
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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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