Updated Three-Unit Mixed-Use
For Sale
$315,000
1 Lincoln Avenue, Troy, NY 12180
MultiFamily, Troy, NY
Property Size2,262 SF
Lot Size0.09 Acres
Price / SF$139.26
Days on Market105
Property Features for 1 Lincoln Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 3, Bedroom 7, Bathroom 2, Bathroom 1, Bedroom 5, Bedroom 6, Bedroom 4
Basement
Unfinished, Interior Entry
Elementary school district
Troy
Middle school district
Troy
High school district
Troy
Directions
4th St to Mann Ave to Francis St to Lincoln Ave
Standard status
Active
APN
381700 111.44-9-1
Size
2,262 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
3319
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Radiant
Water source
Public
Building Details
Year built
1890
Number of units
3
Building materials
Brick, Vinyl Siding
Architectural style
Other
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Thaddeus Jones · License #10301220962
(518) 681-1836
Added: Jun 13
Changed: Sep 12
Last Checked: Sep 25 at 4:06AM
MLS# 202619654
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,262-square-foot triplex, built in 1890, includes two residential apartments and a separate third unit that may serve as commercial space, an office, or a studio. Interior improvements include renovated kitchens and bathrooms, new LVP flooring, new doors, and fresh paint throughout. The exterior has also been repainted. Construction includes brick and vinyl siding, with natural gas radiant heat.
The property occupies 0.09 acres and is served by public water and public sewer. MU1 zoning supports the property's mixed-use configuration. One residential unit is currently occupied, while the other two units are vacant. The existing layout provides a combination of apartment and flexible-use space within a three-unit building.
The property occupies 0.09 acres and is served by public water and public sewer. MU1 zoning supports the property's mixed-use configuration. One residential unit is currently occupied, while the other two units are vacant. The existing layout provides a combination of apartment and flexible-use space within a three-unit building.
Key Highlights
- Three‑unit property with two residential apartments and one flexible third unit
- 2,262 square feet on 0.09 acres
- MU1 zoning supports mixed‑use configuration
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,457
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$549,140
$549.1K
Cap Rate 7%
$392,243
$392.2K
Cap Rate 9%
$305,078
$305.1K
Market Conditions
NOI Build-Up for 2,262 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$52.7K $23.28/SF
− Vacancy
−$2.7K −$1.21/SF
EGI
$49.9K $22.07/SF
− OpEx
−$22.5K −$9.93/SF
NOI
$27.5K $12.14/SF
Area
Rensselaer County, NY
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$549,140
Cap Rate 7%
$392,243
Cap Rate 9%
$305,078
Alternative Uses
Best Use
Multifamily LT 5
$423.2K
$370.3K – $493.8K
NOI $29,627 @ 7.0% cap · market cap 9.41%
Second Best
Apartment 5plus
$392.2K
$343.2K – $457.6K
NOI $27,457 @ 7.0% cap · market cap 8.72%
Theoretical Best
Office A
$565.5K
$494.8K – $659.7K
NOI $39,582 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
Explore this area
Business Placement
Demographics for 12180, NY
55,907
Population
25,527
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
90%
High-School Grad
56.2 sq mi
ZIP Area
995
Density / Sq Mi
$73,767
Median Household Income
$41,787
Median Earnings
$1,188
Median Rent
$233,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - MU1-zoned property combines two apartments with a flexible third unit for commercial or office use.
Where is this triplex located?
The property is located at 1 Lincoln Avenue Troy, NY.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Three‑unit property with two residential apartments and one flexible third unit; 2,262 square feet on 0.09 acres; MU1 zoning supports mixed‑use configuration
