43 & 45 Palisade Avenue
Mixed Use | 6.63% CAP | 16,076 SqFt
Marketing description
Rand Commercial is pleased to present the exclusive offering of 43 & 45 Palisade Avenue, a two-building mixed-use assemblage located in the City of Yonkers, Westchester County, New York. Zoned BR (Restricted Business) District, the assemblage presents a rare opportunity for an investor seeking stable, diversified in-place income, or for a developer seeking a combined, contiguous parcel in a dense, transit-served neighborhood close to Downtown Yonkers and the Metro-North Yonkers Station.
The offering combines two four-story, mixed-use walk-up buildings totaling approximately 16,076 square feet on a combined lot of approximately 0.33 +/- acres. Together, the buildings deliver 3 ground-floor retail/commercial units and 9 residential apartments, producing a combined Net Operating Income of $218,108 on total gross income of $279,852.
Investment highlights
- Assemblage of two contiguous mixed-use buildings totaling ± 16,076 SF
- Diversified income stream across 3 retail tenants and 9 residential units
- Combined in-place Net Operating Income of $218,108
- Offered at $3,290,000, reflecting a 6.63% blended cap rate on current in-place income
- Opportunity for rent growth through unit turnover and potential redevelopment upside
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