241 BroadwayYonkers, NY 10705

Property Details for 241 Broadway

Year built

1993

Lot size

0.18 AC

Property size (Sq ft)

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,812,068

  6.5%

  $1,672,678

  7%

  $1,553,201

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,454,986

  Geo Method

  $2,454,986

• Alternative Use

  Use

  Valuation

  Residential

  $1,410,967

  Hospitality

  $1,292,438

  Educational

  $1,075,293

  Medical

  $1,112,274

  Retail

  $1,672,678

Location Insight

City

Yonkers

County

Westchester

State

New York

Latitude

40.9257

Longitude

-73.896

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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