Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    285 2Nd St Troy, NY 12180

    View on Map
    Sponsored
    For Sale
    $598,000

    Commercial Building - Troy, NY

    Property size:
    38,876 SF
    Days on Market:
    45
    Last Refresh:
    Mar 7 at 6:06 am

    Property Features for 285 2Nd St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    200
    APN
    381700 111.28-2-2
    Parking features
    Garage
    Size
    38,876 SF

    Utilities

    Water front features
    Waterfront
    Water front
    1

    Building Details

    Building materials
    Brick
    Roof type
    Metal, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Deanna Dal Pos

    NAI PLATFORM LLC

    Listing agent Deanna Dal Pos

    Listing date Jan 22, 2026

    MLS# 11582786 Listing URL

    Copyright © 2026 My State MLS. 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

    Historic Factory Awaiting Redevelopment

    This historic four-story factory, constructed around 1840, stands as one of South Central Troy's last remaining industrial landmarks, presenting a redevelopment opportunity. Situated along the Poestenkill Canal and near the Hudson River, the property reflects the area's industrial heritage and offers potential for modern reuse. The building encompasses approximately 38,876 square feet with ceiling heights of over 14 feet, providing flexibility for redevelopment. Structural stabilization has been completed, including masonry restoration, chimney repair, new roofing, and joist replacement engineered to support residential loads. Approved redevelopment plans are in place for a mixed-use program that includes retail, residential, and townhome living. The plans feature ground-floor commercial space, loft-style apartments on the upper levels, a rear townhome residence, and 15 dedicated parking spaces. Comprehensive site studies, including traffic, grading, and slope stability assessments, have been conducted. The property is located within a district identified in Troy's Comprehensive Community Development Plan as a priority area for reinvestment. The city has initiated projects to transform the district into a mixed-use hub, including brownfield remediation, relocation of the municipal salt storage facility, and completion of River Street extensions to create a continuous waterfront corridor. This property offers the potential for loft apartments, creative offices, boutique retail, or a mixed-use destination.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Irish Mist Cafe & Coffee Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Albany
    State
    New York
    Longitude
    -73.694129
    Latitude
    42.720416

    Nearby Similar for Sale

    • $339,900
      2,400 SF

      Versatile Commercial Building on Acreage

      Multi-use commercial building with open space and convenient access.
      100 Eastover Rd, Troy, NY 12182
      View Details
    • $1,500,000
      1,636 SF

      Troy Car Wash For Sale

      Updated car wash with growth potential in revitalizing Troy, NY.
      690-696 River St, Troy, NY 12180
      View Details
    • $379,900
      Pending

      Turnkey Medical Office in Troy

      Well-maintained medical office in a thriving community with ample parking.
      200 Northern Dr, Troy, NY 12182
      View Details
    • $550,000
      0.21 Acres

      Retail Plaza with Liquor License

      Retail plaza with two storefronts and active liquor license.
      501 Campbell Ave, Troy, NY 12180
      View Details
    • $1,500,000

      Troy Car Wash For Sale

      Revitalized car wash with high-end equipment and income potential.
      690-696 River St, Troy, NY 12180
      View Details
    • New
      $425,000
      2,732 SF

      Well-Maintained Triplex Near RPI

      Triplex near RPI with buildable lot and off-street parking.
      2309 17Th St, Troy, NY 12180
      View Details
    • $1,200,000
      10,100 SF

      Historic Bank Building with Elevator

      Historic 1936 bank building modernized for office, retail, or restaurant.
      50 4Th St, Troy, NY 12180
      View Details
    • $569,000
      Pending

      Mixed-Use Property in Downtown Troy

      Mixed-use property with commercial space and renovated apartments in Troy.
      147 4Th St, Troy, NY 12180
      View Details
    • $569,000
      Pending

      Mixed-Use Property in Downtown Troy

      Mixed-use property with commercial space and renovated residential apartments.
      147 4Th St, Troy, NY 12180
      View Details
    • New
      $725,000
      3,720 SF

      Turnkey Investment Property in Troy

      Fully occupied six-unit building with strong cash flow and low maintenance.
      319 Speigletown Rd, Troy, NY 12182
      View Details
    • $695,000
      7,161 SF

      Established Restaurant with Parking Lot

      Turnkey restaurant opportunity with equipment, fixtures, and additional parking.
      853 4Th Ave, Troy, NY 12182
      View Details
    • $378,800
      Pending

      Spacious Owner-Occupied Two-Family Home

      Well-maintained two-family home with modern updates and preserved charm.
      86 Pinewoods Ave, Troy, NY 12180
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Four-story factory in Troy, NY with mixed-use redevelopment approvals.
    Where is this mixed-use property located?
    The property is located at 285 2Nd St Troy, NY.
    What is the asking price?
    The asking price for this property is $598,000.
    What are key features of this property?
    This property features: - Approved plans for mixed-use development offering retail, apartments, and a townhome.; - Completed structural stabilization with masonry restoration, new roofing, and joist replacement.; - Located in Troy's redevelopment corridor, benefiting from municipal investment.
    (518) 465-1400
    Request Owner's contact information
    285 2Nd St Troy, NY 12180
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    285 2Nd St
    Troy, NY 12180
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    285 2Nd St Troy, NY 12180
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Deanna Dal Pos
    Real Estate License ID: NY 35DA0819459
    (518) 465-1400 (518) 366-0920
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!