749 Palisade AveYonkers, NY 10703

Property Details for 749 Palisade Ave

Year built

1960

Lot size

0.14 AC

Property size (Sq ft)

4,644 SF

Zone code

B

Property type

Investment properties

Property subtype

Live-work space

APN

551800 3.-3026-19

APU

5518003302619

Description

This exceptional mixed-use property, located at 749 Palisade Avenue in Yonkers, NY, presents a compelling investment opportunity. The 6,084 square foot building sits on a 0.14-acre lot and boasts a prime location within the vibrant Northwest Yonkers business district. Just two blocks away, you'll find a variety of amenities including restaurants, a supermarket, delis, banks, a hair salon, and a barber shop. The property's convenient location also offers easy access to major transportation arteries, including the Saw Mill Parkway, and is within a 5-10 minute drive of three Metro-North Railroad stations. Nearby attractions include St. John's Hospital, Untermeyer Gardens, and the Boyce Thompson Center. A bus stop is conveniently located directly outside the building. The building itself comprises two commercial storefronts currently leased to a real estate agency and an insurance agency, and three residential apartments. The apartment units include one three-bedroom unit and two two-bedroom units. The three-bedroom unit on the second floor is in good condition and retains original 1899 wood detailing. The two-bedroom unit on the third floor has been nicely updated. One of the apartments includes central air conditioning, a washer/dryer, and a dishwasher. It also features a deck with access to a gated backyard. A driveway, currently leased with the first-floor unit, provides parking for two or more cars. The entire building underwent a complete renovation in 2010. A large, high-ceiling walk-out basement provides ample storage space and houses the building's utilities. This well-maintained and updated building offers a blend of commercial and residential income streams, making it an ideal investment for both end-users and investors. The property is also known as 747 Palisade Avenue.

• CAP approach

  CAP return

  Valuation

  6%

  $767,792

  6.5%

  $708,731

  7%

  $658,107

• Comparable approach

  Method

  Valuation

  Relative Method

  $606,785

  Geo Method

  $606,785

• Alternative Use

  Use

  Valuation

  Residential

  $878,826

  Hospitality

  $805,000

  Educational

  $669,751

  Medical

  $692,785

  Retail

  $1,041,835

Location Insight

City

Yonkers

County

Westchester

State

New York

Latitude

40.9595

Longitude

-73.886

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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