Townhouse-Style Apartment
For Sale
$3,550,000
1A-15H Brickyard Road, Stillwater, NY 12118
MultiFamily, Stillwater, NY
Property Size8,928 SF
Lot Size8.44 Acres
Price / SF$397.63
Days on Market52
Property Features for 1A-15H Brickyard Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi Residence
Bedrooms
32
Bathrooms
24
Full bathrooms
16
Half bathrooms
16
Rooms
Bedroom 4, Bathroom 9, Bathroom 30, Bedroom 12, Bedroom 14, Bathroom 7, Bedroom 32, Bedroom 18, Bedroom 31, Bedroom 19, Bathroom 12, Bathroom 5, Bathroom 21, Bathroom 32, Bathroom 3, Bedroom 8, Bathroom 1, Bathroom 17, Bedroom 3, Bathroom 28, Bedroom 25, Bathroom 26, Bathroom 29, Bathroom 18, Bathroom 10, Bathroom 2, Bathroom 20, Bedroom 24, Bathroom 11, Bathroom 22, Bedroom 27, Bedroom 6, Bathroom 16, Bathroom 31, Bedroom 22, Bathroom 14, Bedroom 16, Bedroom 11, Bathroom 23, Bedroom 1, Bedroom 20, Bedroom 7, Bedroom 28, Bedroom 5, Bedroom 29, Bedroom 15, Bathroom 4, Bedroom 17, Bathroom 27, Bedroom 21, Bathroom 15, Bathroom 6, Bedroom 9, Bedroom 13, Bathroom 24, Bedroom 30, Bathroom 19, Bedroom 2, Bedroom 26, Bedroom 10, Bathroom 8, Bathroom 25, Bathroom 13, Bedroom 23
Parking
32
Parking features
Off Street, Garage, Driveway, Open
Patio and Porch features
Porch, Deck
Fireplace
1
Elementary school district
Mechanicville
Middle school district
Mechanicville
High school district
Mechanicville
Directions
Rt 75 to Hurlin St, left on Stillwater Brickyard Rd
Standard status
Active
APN
415289 262.-1-1.111
Size
8,928 SF
Lot size
8.44 Acres
Taxes and HOA fees
Tax Annual Amount
39344
Utilities
Sewer type
Public Sewer
Heating system
Propane (Heating)
Cooling system
Central Air
Water source
Public
Amenities
private garage
hardwood floors
washer and dryer
balcony
front porch
Building Details
Year built
2018
Number of units
16
Flooring type
Hardwood
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
Julie & Co Realty LLC
(518) 350-7653
Listed By:
Amy Farchione-Sgromo · License #40SG0924936
(315) 863-2777
Added: Jul 15
Changed: Aug 20
Last Checked: Sep 4 at 2:06PM
MLS# 202621869
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.
Gennaro Commons is a townhouse-style apartment development on 8.44 acres in Stillwater, New York. The property includes 40 approved units, with 16 completed and 24 additional units approved for permit issuance. The development is zoned Multi Residence and includes 8,928 square feet of property improvements. Existing features include private garages, hardwood flooring, in-unit washers and dryers, balconies, and front porches. Construction details include vinyl siding, shingle roofing, propane heating, central air, public water, and public sewer.
The site is located along Brickyard Road near Cold Springs Road, in the Mechanicville-Stillwater area. Its setting is described as slightly north of the city proper, with nearby industrial hubs, retailers, businesses, and manufacturers. An additional 24 units are planned and would require final approvals, bringing the potential total to 64 units.
The site is located along Brickyard Road near Cold Springs Road, in the Mechanicville-Stillwater area. Its setting is described as slightly north of the city proper, with nearby industrial hubs, retailers, businesses, and manufacturers. An additional 24 units are planned and would require final approvals, bringing the potential total to 64 units.
Key Highlights
- 40 approved townhouse‑style apartment units
- 16 units completed; 24 approved units ready for permit issuance
- 8.44‑acre development site with 8,928 square feet of improvements
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
$118,545
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
3.34%
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%
$2,370,900
$2.4M
Cap Rate 7%
$1,693,500
$1.7M
Cap Rate 9%
$1,317,167
$1.3M
Market Conditions
NOI Build-Up for 8,928 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
$225.0K $25.20/SF
− Vacancy
−$9.4K −$1.06/SF
EGI
$215.5K $24.14/SF
− OpEx
−$97.0K −$10.86/SF
NOI
$118.5K $13.28/SF
Area
Saratoga County, NY
Vacancy
4.20%
Lease Rate
$25.20 /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%
$2,370,900
Cap Rate 7%
$1,693,500
Cap Rate 9%
$1,317,167
Alternative Uses
Best Use
Apartment 5plus
$1.69M
$1.48M – $1.98M
NOI $118,545 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.67M
$2.34M – $3.12M
NOI $187,059 @ 7.0% cap · market cap 5.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
142
Businesses Nearby
Explore this area
Business Placement
Demographics for 12118, NY
16,618
Population
8,079
Households
2.1
Avg Household Size
42
Median Age
33%
College-Educated
93%
High-School Grad
35.3 sq mi
ZIP Area
471
Density / Sq Mi
$91,182
Median Household Income
$54,079
Median Earnings
$1,105
Median Rent
$315,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Approved multifamily community with completed residences, private garages, porches, balconies, and public utilities.
Where is this apartment building located?
The property is located at 1A-15H Brickyard Road Stillwater, NY.
What is the asking price?
The asking price for this property is $3,550,000.
What are key features of this property?
This property features: 40 approved townhouse‑style apartment units; 16 units completed; 24 approved units ready for permit issuance; 8.44‑acre development site with 8,928 square feet of improvements
