Brick Mixed-Use
For Sale
$839,900
40 River Street, Troy, NY 12180
MULTI_FAMILY - Other - Troy, NY
Property Size5,029 SF
Lot Size0.22 Acres
Price / SF$167.01
Days on Market32
Property Features for 40 River Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Mixed
Bedrooms
6
Bathrooms
6
Full bathrooms
5
Half bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bedroom 6, Bathroom 2, Bathroom 4, Bathroom 7, Bathroom 5, Bathroom 6, Bedroom 1, Bedroom 2, Bedroom 5, Bathroom 3, Bedroom 3
Parking
13
Parking features
Driveway
Basement
Unfinished, Full
Accessibility
Accessible Approach with Ramp
Elementary school district
Troy
Middle school district
Troy
High school district
Troy
Directions
Turn right onto 23rd St. Turn left onto 2nd Ave. Turn left onto NY-2 E (19th St) and continue. Take the River St exit. Continue onto River St.
Standard status
Active
APN
381700 100.76-5-14
Size
5,029 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Annual Amount
9130
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Electric (Heating)
Water source
Public
Building Details
Year built
1910
Number of units
5
Building materials
Brick
Architectural style
Other
Listing Agency:
Gucciardo Real Estate Group LLC
(518) 221-9079
Listed By:
Pavel Karakalchu · License #10401307281
(518) 728-6305
Added: Aug 6
Changed: Aug 18
Last Checked: Sep 6 at 1:06AM
MLS# 202623448
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 5,029-square-foot mixed-use building combines four residential apartments with a first-floor retail restaurant. The apartment mix includes two one-bedroom, one-bath units; one two-bedroom, one-bath unit; and one two-bedroom, two-bath unit. All four residential units are leased. Constructed in 1910 with solid brick materials, the property includes separate utilities, driveway parking, and an accessible approach with ramp.
The 0.22-acre property is located at 40 River Street in downtown Troy, New York. It is served by public water and public sewer, with heating systems including natural gas, forced air, and electric service. The property carries Mixed zoning and offers a combination of residential occupancy and ground-floor commercial use.
The 0.22-acre property is located at 40 River Street in downtown Troy, New York. It is served by public water and public sewer, with heating systems including natural gas, forced air, and electric service. The property carries Mixed zoning and offers a combination of residential occupancy and ground-floor commercial use.
Key Highlights
- 5,029‑square‑foot mixed‑use building on a 0.22‑acre lot
- Four residential units: two 1‑bedroom, 1‑bath; one 2‑bedroom, 1‑bath; and one 2‑bedroom, 2‑bath
- First‑floor retail restaurant
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
$65,040
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
7.74%
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%
$1,300,800
$1.3M
Cap Rate 7%
$929,143
$929.1K
Cap Rate 9%
$722,667
$722.7K
Market Conditions
NOI Build-Up for 5,029 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
$90.5K $18.00/SF
− Vacancy
−$3.8K −$0.76/SF
EGI
$86.7K $17.24/SF
− OpEx
−$21.7K −$4.31/SF
NOI
$65.0K $12.93/SF
Area
Albany County, NY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,300,800
Cap Rate 7%
$929,143
Cap Rate 9%
$722,667
Alternative Uses
Best Use
Specialty Retail
$929.1K
$813.0K – $1.08M
NOI $65,040 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$767.4K
$671.5K – $895.3K
NOI $53,717 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,849 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,713
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four leased apartments accompany a first-floor restaurant, with separate utilities and off-street parking.
Where is this mixed-use property located?
The property is located at 40 River Street Troy, NY.
What is the asking price?
The asking price for this property is $839,900.
What are key features of this property?
This property features: 5,029‑square‑foot mixed‑use building on a 0.22‑acre lot; Four residential units: two 1‑bedroom, 1‑bath; one 2‑bedroom, 1‑bath; and one 2‑bedroom, 2‑bath; First‑floor retail restaurant
