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    The Largest CRE Database in the US with Over 1 Million Listings

    223 Broadway Rensselaer, NY 12144

    Sponsored
    For Sale
    $1,500,000

    COMMERCIAL - Rensselaer, NY

    Type:Retail
    Property size:
    8,500 SF
    Lot size:
    0.27 Acres
    Days on Market:
    12
    Last Refresh:
    Jan 31 at 9:06 am

    Property Features for 223 Broadway

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Sale
    Property subtype
    Retail
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    Mixed
    Rooms
    Bathroom 1
    Bathrooms
    1
    APN
    381400 143.67-1-7.2
    Parking
    15
    Parking features
    Off Street, On Street
    Interior features
    High Speed Internet
    Exterior features
    Lighting
    Basement
    Full
    Size
    8,500 SF
    Lot size
    0.27 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1950
    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Block, Brick, Vinyl Siding
    Roof type
    Rubber

    We can help!

    Listing Contact
    Douglas S Schenk
    Douglas S Schenk

    RE/MAX Capital (518) 724-6800

    Listing agent Douglas S Schenk (518) 221-2949 License #30SC0782781

    Listing date Jan 20, 2026

    MLS# 202610802

    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.

    Learn more

    Property Insight Report

    Overview

    Rensselaer Commercial Building For Sale

    Located in the downtown business district of Rensselaer, at the corner of Broadway and Ferry Street, the property at 223 Broadway is situated just off the 787 entrance ramp and is in close proximity to routes 9 and 20, downtown Albany, I-87, and I-90. The 8,500 sq ft building features a free span layout, solid block construction, a brick facade, and vinyl siding. The building includes 16' ceilings, a full basement, and three-phase 400V electric. The property provides off-street parking with 15-20 spaces in the rear. A new rubber roof is planned for installation in 2025, and the heating system has been updated. The 0.27-acre lot is zoned Mixed-Use (MU-1 Downtown Mixed-Use). Currently operating as an auto parts business, the business is also available for sale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Riverside Auto Parts Auto Parts Store

    Suggested Use

    Realty agency Restaurant Spa & Massage Law Firm Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Enterprise Rent-A-Car, U-Haul Moving & Storage of Albany, Trailer Rental at U-Haul, U-Box at U-Haul, Propane Refill at U-Haul

    Location Insight

    • Map
    • Local Demand
    City
    Rensselaer
    County
    Rensselaer
    State
    New York
    Longitude
    -73.74697
    Latitude
    42.638962

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    FAQs

    What type of property is this?
    Automotive property - 8,500 sq ft building in Rensselaer's Downtown business district.
    Where is this automotive property located?
    The property is located at 223 Broadway Rensselaer, NY.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: - Prime location in Rensselaer's Downtown business district, near major routes (787, 9, 20, I-87, I-90) and downtown Albany.; - Spacious 8,500 sq ft free span solid block building with **16' ceilings** and a full basement.; - Ample off-street parking with 15-20 spaces.
    (518) 221-2949
    Request Owner's contact information
    223 Broadway Rensselaer, NY 12144
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    223 Broadway Rensselaer, NY 12144
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    We can help!
    Listing Contact
    Douglas S Schenk
    Douglas S Schenk
    Real Estate License ID: 30SC0782781
    (518) 221-2949
    Learn more
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