Description
The Nepperhan Plaza, at 525 Nepperhan Avenue (at Corner of Orchard Avenue) in Yonkers, New York, is a stand-alone retail/office building built in 1989. It is a two-story retail/office facility. on .7 acres. totaling 14,800 sq.ft. Located in the Nepperhan/Saw Mill Valley section of Yonkers. the subject properties lie in an area that continues to flourish as the city's largest and most active industrial area. In addition the subject property is situated within both an Empire Zone and a Federal Empowerment Zone. which provides numerous benefits to the ownership and the tenants. As a well established resource for the smaller space user within the city of Yonkers, this property provide its tenants with 1) easy access to all of the city and neighboring communities. including Manhattan. 2) flexible/divisible space that can facilitate easy relocation and expansions within the buildings as their space needs grow. 3) uniquely functional space
The New York State Empire Zone, the only one in Westchester County, provides for numerous tax credits and exemptions that can be available to ownership and tenants. Some of these include: sales tax exemptions, investment and employment incentive credits, zone capital credits, utility rate savings, and numerous others. The Federal Empowerment Zone also provides for special tax benefits and tax credits for which businesses may qualify. Tenants (and ownership) of the subject property can enjoy the advantages of these programs which make the Nepperhan properties even more attractive locations. The current $20 million re-development of a nearby property is a prime example of the "N" valley focus.
Originally designed for 10-12 tenants with separate mechanicals, the first floor of the two-story building is occupied by three traditional retail tenants, with the balance of the space occupied by the State of NY. The second floor is entirely occupied by the State of NY.
Hightlights:
Convenient access to major roads and public transportation
Generous tax incentives to operate in Empire & Empowerment Zones
"N" Valley re-development emphasis by City of Yonkers
Wide range of uses permitted in industrial zone
Access to ample parking
Yonkers is located in the southwest corner of Westchester County. adjacent to the Borough of the Bronx in New York City. Yonkers is the largest city in Westchester County. It covers a total land area of approximately 21 square miles and has a population of 196.000 according to the 2000 Census.
Yonkers industrial uses. which were instrumental in shaping the city's economy. are primarily located in the NepperhanlSaw Mill industrial valley (location of the subject property) and along lire waterfront area. Land for industrial expansion is extremely limited in the Nepperhan /Saw Mill industrial valley as well as the waterfront where the City's downtown redevelopment efforts. market forces. and other factors. have changed the land use patterns along the industrial waterfront. The City intends to remain competitive in the industrial marketplace and understands new locations and incentives must be sought to create jobs and remain competitive in the region.
Westchester County is located in the southeastern corner of New York State and is bounded on the south by Bronx County (New York City), on the west by the Hudson River. on the north by Putnam County and on the east by Fairfield County, Connecticut.
According to the 2000 Census Westchester County's population is 923.459 persons. Educational, shopping and recreational facilities are outstanding in Westchester. The local transportation facilities in Westchester are excellent. The market for industrial space in Westchester County has been strong in recent years resulting in rising rents and occupancy rates.
Property Type: Office/Retail
Number of Stories:2 story
Lot Size: .7 acres
Landscaping: Minimal needed
Foundation Framing: Concrete
Exterior: Brick/Metal panel
Parking Surface: Paved: 31 Spaces in Rear Parking Lot; 5 Private spaces in front; 16 City Parking spaces in front and 51 City Parking Spaces in Adjacent lot
Roof: -flat rubberized
Number of Floors: 2 firs
Floor Plate Size: 7.800 sf
HVAC: separate package
Fire Protection: wet spnnklered
Utilities: Water, sewer, elect, gas, oil, tele
Plumbing: New sprinkler monitoring system
Elevator: None
INTERIOR DETAIL
Walls: Painted gypsum board
Ceilings: acoustic tile
Floor Coverings Rest Rooms: concrete decks