The Nepperhan Business Center, at 578 Nepperhan Avenue (at Corner of Lake Avenue) in Yonkers, New York, are 2 connected Industrial/Office buildings built in 1900. It is a five story historical landmark industrial/office facility on 1.5 acres totaling 75,000 sq.ft. Located in the Nepperhan/Saw Mill Valley section of Yonkers, the subject property 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 industrial buildings were converted to multi-tenant use in the late 70 s and further major capital improments were made in 2003, 2004 and 2007
New Roof (2003)
2 New combination passenger/Freight Elevators (2004)
2 New Burner Boilers and smoke stacks(2007)
The Nepperhan Business Center, originally built circa 1900, and on the National Register of Historic Buildings, consists of two contiguous five story buildings on 1.5 acres, that were once industrial mills. and were gut-renovated and sub-divided for multi-tenant use in the late 70s. Combined they total 146,691 sq.ft.
The two large industrial buildings, 540 and 578, each contain five full floors, and each floor is basically the same size, approx. 14.000 sq.ft. The floors have been sub-divided to house a colorful roster of tenants as described in the TENANTS section. In addition the top floor of the 540 and 578 buildings have been sub-divided and leased for use as artist's loft space.
The tenant mix is a combination of the following uses: wholesale distribution. light manufacturing, offices, photography studios, piano restoration, warehousing, mail order, wholesale/retail sales. luncheonette, designer space, and artist studios of many differening types
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 Hightlights
24 hour access
Security system
On site luncheonette
Tail gate loading
Two new freight/passenger elevators 4.000 - 5000 amps in each bldg.
Property Type: Industrial/Office
Number of Stories:5 story
Lot Size: 1.5 acres
Landscaping: Minimal needed
Foundation Framing: Concrete
Exterior: Brick
Parking Surface: Paved
Roof: -pitched rubber roof
Number of Floors: 5 floors
Number of Suites 90+
Floor Plate Size: 15,000 sf
HVAC: central heat
Fire Protection: wet sprinklered
Utilities: Water, sewer, elect, gas, oil, tele
Plumbing: New sprinkler monitoring system
Elevator: 2 new freight/passenger 578: 72" w x 91" d x 98" h, 540: 72" w x 147" d x 98" h
INTERIOR DETAIL
Walls: Painted gypsum board
Ceilings: acoustic tile
Floor Coverings Rest Rooms: concrete