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    811 Mclean Ave Yonkers, NY 10704-3856

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    811 Mclean Ave Yonkers, NY 10704-3856

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    • Investment properties
    • 11,400 SF
    • 0.32 lot acres
    Off-Market
    Property ID
    US63-0336946
    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.
    Value Estimations
    $2,100,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Okunribido Law Office / Law Firm
    • SYO RECORDS / Recording Studio
    • AD Gift Promo Inc / Advertising Agency / Marketing & Advertising
    • Crown of Grace Chapel / Church
    • Atlantis Glass / Hardware & Home Improvement / Home Decor Store

    Property Details for 811 Mclean Ave

    Year built
    1968
    Lot size
    0.32 lot acres
    Property size
    11,400 SF
    Zone code
    BR
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    551800 6.-6222-24
    APU
    5518006622224

    Description

    This exceptional investment opportunity presents a thriving multi-tenant retail property located at 811 McLean Ave, Yonkers, NY 10704, in Westchester County. Priced at $3,500,000 with a 6.00% cap rate, this property boasts a strong 90% occupancy rate. The main attraction is a large, established restaurant occupying the ground floor, complemented by a dedicated party room on the mezzanine level. A fully finished basement includes a second kitchen, adding significant operational flexibility. The property also features separate office spaces accessible via a separate entrance, a shared lobby area, and shared bathrooms. Recent improvements include new windows in the office spaces, and a main roof and additional roof that are only six years old. Further enhancing the property's value are a sprinkler system and ample parking. Its strategic location offers easy access to major highways and public transportation, situated within a high-traffic area. Built in 1968, this property presents a compelling blend of established success and potential for future growth. The square footage is currently listed as 1, however, this is likely an error in the data provided and should be verified independently.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,291,000
      Market price range: $1.29M - $3.26M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $3,455,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Yonkers
    County
    Westchester
    State
    New York
    Longitude
    -73.8721
    Latitude
    40.9069
    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
    $35,932
    $23,500
    $4,150
    $27,650
    -
    $1,312,849
    $231,844
    $1,544,693

    Comparable in this City

    • Value Estimation
      $710,000
      2,886 SF

      709 Yonkers Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,886 SF
      709 Yonkers Ave, Yonkers, NY 10704
      View Details
    • Value Estimation
      $915,000
      4,410 SF

      1071 Yonkers Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,410 SF
      1071 Yonkers Ave, Yonkers, NY 10704-3162
      View Details
    • Value Estimation
      $735,000
      3,366 SF

      641 Yonkers Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,366 SF
      641 Yonkers Ave, Yonkers, NY 10704-2623
      View Details
    • Value Estimation
      $2,010,000
      10,950 SF

      975 Mclean Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 10,950 SF
      975 Mclean Ave, Yonkers, NY 10704-4108
      View Details
    • Value Estimation
      $2,185,000
      12,000 SF

      957 Mclean Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 12,000 SF
      957 Mclean Ave, Yonkers, NY 10704-4187
      View Details
    • Value Estimation
      $940,000
      3,926 SF

      963 Mclean Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,926 SF
      963 Mclean Ave, Yonkers, NY 10704
      View Details

    Similar Nearby for Sale

    • $929,000
      Pending

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      Legal 2-family home with detached garage in a prime location.
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    • New
      $769,000
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      Yonkers Income Property Opportunity

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    Similar Nearby for Lease

    • $2,350 /Mo

      Renovated Apartment in Southeast Yonkers

      Newly renovated 1 bedroom, 1 bathroom apartment for rent.
      604 Yonkers Ave, Yonkers, NY 10704
      View Details
    • Contact for pricing
      15,660 SF

      Yonkers Retail Space Available

      15,660 SF retail space with 20' ceiling heights.
      750 Central Park Ave, Yonkers, NY 10704
      View Details
    • $69 SF/Yr
      100 SF

      Office - Yonkers, NY

      Bright office space with excellent public transportation and ample parking.
      570 Yonkers Ave, Yonkers, NY 10704
      View Details
    • Contact for pricing

      Yonkers Commercial Space Available

      Commercial space available for lease in Yonkers, New York.
      777 Central Park Ave, Yonkers, NY 10704
      View Details
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    811 Mclean Ave
    Yonkers, NY 10704-3856
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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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