Mixed-Use Building with
For Sale
$389,900
Pending
113-115 S Ferry Street, Schenectady, NY 12305
MultiFamily, Schenectady, NY
Property Size2,558 SF
Lot Size0.02 Acres
Days on Market39
Property Features for 113-115 S Ferry Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 2, Bathroom 4, Bathroom 2, Bathroom 5
Basement
Full
High school
Schenectady
Elementary school district
Schenectady
Middle school district
Schenectady
High school district
Schenectady
Directions
From I890 take exit 5, turn right onto State St, turn left onto S Ferry, go two blocks, look for Moon and River Cafe on right.
Standard status
Pending
APN
421500 39.63-4-37
Size
2,558 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
8708
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air, Baseboard, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1910
Number of units
5
Building materials
Brick
Roof type
Rubber
Architectural style
Other
Listing Agency:
Armida Rose Realty Group
(518) 374-2228
Listed By:
Dawn L Morrison · License #10401327881
(518) 461-2424
Added: Aug 17
Changed: Sep 12
Last Checked: Sep 24 at 4:06AM
MLS# 202624211
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 2,558-square-foot mixed-use building was constructed in 1910 and features brick construction with a rubber roof. The first floor contains a cafe, while the second and third floors provide four residential rentals: two studio units and two one-bedroom units. The cafe has a newer furnace, and the property includes five separate electric meters, one gas meter, and one water meter.
Set within Schenectady’s Historic Stockade, the property is minutes from the downtown area and nearby destinations including Mohawk Harbor, Rivers Casino, Proctors Theater, and Jay Street Marketplace. Public water and public sewer serve the building. Exterior painting was completed recently.
Set within Schenectady’s Historic Stockade, the property is minutes from the downtown area and nearby destinations including Mohawk Harbor, Rivers Casino, Proctors Theater, and Jay Street Marketplace. Public water and public sewer serve the building. Exterior painting was completed recently.
Key Highlights
- 2,558‑square‑foot mixed‑use building on 0.02 acres
- First‑floor cafe with four residential rentals above
- Residential mix includes 2 studios and 2 one‑bedroom units
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
$35,300
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
9.05%
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%
$706,000
$706.0K
Cap Rate 7%
$504,286
$504.3K
Cap Rate 9%
$392,222
$392.2K
Market Conditions
NOI Build-Up for 2,558 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
$61.4K $24.00/SF
− Vacancy
−$4.9K −$1.92/SF
EGI
$56.5K $22.08/SF
− OpEx
−$21.2K −$8.28/SF
NOI
$35.3K $13.80/SF
Area
Schenectady County, NY
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$706,000
Cap Rate 7%
$504,286
Cap Rate 9%
$392,222
Alternative Uses
Best Use
Specialty Retail
$513.6K
$449.4K – $599.2K
NOI $35,950 @ 7.0% cap · market cap 9.22%
Second Best
Mixed Use
$504.3K
$441.3K – $588.3K
NOI $35,300 @ 7.0% cap · market cap 9.05%
Theoretical Best
Office A
$765.6K
$669.9K – $893.3K
NOI $53,595 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,779
Businesses Nearby
Explore this area
Business Placement
Demographics for 12305, NY
6,085
Population
4,103
Households
1.5
Avg Household Size
37
Median Age
34%
College-Educated
88%
High-School Grad
1.5 sq mi
ZIP Area
4,057
Density / Sq Mi
$50,308
Median Household Income
$34,228
Median Earnings
$1,067
Median Rent
$162,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick property combines a ground-floor cafe with four residential rentals in a compact multi-level layout.
Where is this mixed-use property located?
The property is located at 113-115 S Ferry Street Schenectady, NY.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: 2,558‑square‑foot mixed‑use building on 0.02 acres; First‑floor cafe with four residential rentals above; Residential mix includes 2 studios and 2 one‑bedroom units
