Fully renovated within the past 5 years as and functional Film/TV Studio, with two 5,000 s/f floors, each with street access and floor strength to support all zoned and useful applications including, manufacturing, light industrial, retail, shipping, parking, storage and fine arts. Special (DM-X) zoning may allow up to 200' of residential development above structure. Current owner-user completely renovated, including new roof, 2-A/C units, new boiler, upgraded industrial electric, septic and sump pump, lavatories and offices. Owner is amenable to purchaser acquiring film/video equipment for a negotiable sum. 1. The property may also be used as a high-value automobile storage/parking facility. CAP rates vary based on value of vehicles, accessibility vs. long-term-storage, etc. Potential buyers are advised to obtain these valuation statistics independently of seller. 2. The property qualifies for Yonkers' D-MX residential zoning for a max height of 200 feet. Assuming 10' floor allowance, 12 floors x 5 apts per floor = 60 apartments. Rented as Section 8 - affordable housing, rent could equal $2,580/mo x 60 = $1.858M per year in gross rent, plus income from the two warehouse floors below. * Listed CAP RATE for the studio was calculated on the basis of a new purchaser's yearly rental of the studio based on average such rates within the 25-mile IATSE union "day-rate" radius. Rate includes electricity. Equipment, props and labor was not included. The applied daily fee is $2,500 is annualized as follows: "7 day week" is reduced to 4 days; "Weeks-per-year" is reduced to 50; max gross income = $560,000/year. A significantly lower CAP RATE may be derived if the property is used as a simple warehouse. Current best case of $20/sf yields a CAP RATE of 4. This low rate may be offset by the fact that the property is within the Yonkers DM-X zone offering 200' of vertical expansion for housing. This unit may therefore prove to yield significant capital gains as in independent development site or as a key location within a block-wide assemblage.