Mixed-Use Restaurant and
703 Union Street Schenectady, NY 12305
703 Union Street, Schenectady, NY, 12305
$375,000
For Sale
$375,000
MULTI_FAMILY - Schenectady, NY
Property Size2,578 SF
Lot Size0.09 Acres
Price / SF$145.46
Days on Market114
Property Features for 703 Union Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- Commercial
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 3
- Parking
- 6
- Basement
- Full
- Accessibility
- Accessible Approach with Ramp
- Standard status
- Active
- APN
- 421500 39.65-3-23
- Size
- 2,578 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5467
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1900
- Number of units
- 2
- Flooring type
- Laminate, Hardwood
- Building materials
- Vinyl Siding
Listing agency
Gucciardo Real Estate LLC
(518) 221-9079
Listed by
Pavel Karakalchu · License #10401307281
(518) 728-6305
Added: Mar 31 Updated: Jul 17 at 2:30PM Checked: Jul 22 at 11:06AM
MLS# 202614157
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.
703 Union Street is a mixed-use, two-level property featuring a restaurant on the ground floor and a fully updated apartment above. The restaurant is described as turn-key, including kitchen appliances plus a hood system and ventilation up to code. The second-floor unit offers three bedrooms, one full bath, and a large family room with views of Union Street.
The property includes off-street parking and a handicap-accessible entry. It is listed as zoned Commercial, and the location is described as just minutes from Union College.
The sale includes both the building and the restaurant business, creating one ownership opportunity that combines commercial dining space with residential rental or owner-occupant use.
The property includes off-street parking and a handicap-accessible entry. It is listed as zoned Commercial, and the location is described as just minutes from Union College.
The sale includes both the building and the restaurant business, creating one ownership opportunity that combines commercial dining space with residential rental or owner-occupant use.
Key Highlights
- Mixed‑use building with a restaurant on the first floor and a fully updated 3‑bedroom apartment on the second floor
- Restaurant is fully equipped and includes kitchen appliances plus a hood system and ventilation up to code
- Second‑floor apartment features 3 bedrooms, 1 full bath, and a large family room with views of Union Street
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.9k | $17.40 |
| − Vacancy | −$2.9k | −$1.13 |
| EGI | $41.9k | $16.27 |
| − OpEx | −$12.6k | −$4.88 |
| NOI | $29.4k | $11.39 |
2,578 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$517.6K
$452.9K – $603.9K
NOI $36,231 @ 7.0% cap · market cap 9.66%
Second Best
Multifamily LT 5
$419.4K
$367.0K – $489.3K
NOI $29,359 @ 7.0% cap · market cap 7.83%
Theoretical Best
Office A
$771.6K
$675.2K – $900.2K
NOI $54,014 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Two-story property with a fully equipped restaurant on the first floor and an updated three-bedroom apartment above.
Where is this conventional restaurant located?
The property is located at 703 Union Street Schenectady, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Mixed‑use building with a restaurant on the first floor and a fully updated 3‑bedroom apartment on the second floor; Restaurant is fully equipped and includes kitchen appliances plus a hood system and ventilation up to code; Second‑floor apartment features 3 bedrooms, 1 full bath, and a large family room with views of Union Street
