Turnkey Mixed-Use
For Sale
$315,000
1 Lincoln Avenue, Troy, NY 12180
Three updated units with two residential apartments and one flexible commercial/office space.
Property Size2,262 SF
Price / SF$139.26
Days on Market162
Property Features for 1 Lincoln Avenue
General Information
Standard status
Active
Size
2,262 SF
Property subtype
Multi-family
Zoning
MU1
Units
Multifamily Units
2
Office Units
1
Additional Details
Business Included
Yes
Building Details
Year Built
1890
Listing Agency:
KW Platform
Listed By:
Thaddeus Jones
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Apr 28
Changed: Oct 4
Last Checked: Oct 4 at 10:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Platform
Investment Insights
Based on property information with market context.
This turnkey three-unit mixed-use property is configured as two residential apartments plus a third unit that can be used for commercial space, an office, or a studio, subject to MU1 zoning. The apartments have been extensively updated with renovated kitchens and bathrooms, new LVP flooring, new doors, and fresh paint throughout. The exterior has also been freshly painted, supporting straightforward ongoing maintenance.
The property is located at 1 Lincoln Avenue in Troy, New York and is presented as a MU1 zoning investment opportunity. Current information indicates one bedroom unit is rented for $1,000 per month, while the other two units are vacant.
For investors or owner-occupants looking for flexibility, the layout supports either an income-focused residential hold with a controllable third unit, or combining live/work uses by occupying the flexible commercial/office portion. With updates already completed across the units and exterior, this offering is positioned as a ready-to-operate option, with the note that closing cannot occur until November 2026 due to the seller’s financing commitments.
The property is located at 1 Lincoln Avenue in Troy, New York and is presented as a MU1 zoning investment opportunity. Current information indicates one bedroom unit is rented for $1,000 per month, while the other two units are vacant.
For investors or owner-occupants looking for flexibility, the layout supports either an income-focused residential hold with a controllable third unit, or combining live/work uses by occupying the flexible commercial/office portion. With updates already completed across the units and exterior, this offering is positioned as a ready-to-operate option, with the note that closing cannot occur until November 2026 due to the seller’s financing commitments.
Key Highlights
- 1890‑built three‑unit mixed‑use property with MU1 zoning in Troy
- Two residential apartments plus one flexible unit for commercial, office, or studio use
- Updates include renovated kitchens and bathrooms, new LVP flooring, new doors, and fresh paint throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,457
Cap Rate
8.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,140
$549.1K
Cap Rate 7%
$392,243
$392.2K
Cap Rate 9%
$305,078
$305.1K
Market Conditions
NOI Build-Up for 2,262 SF
Gross rent
$52.7K $23.28/SF
− Vacancy
−$2.7K −$1.21/SF
EGI
$49.9K $22.07/SF
− OpEx
−$22.5K −$9.93/SF
NOI
$27.5K $12.14/SF
Area
Rensselaer County, NY
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,140
Cap Rate 7%
$392,243
Cap Rate 9%
$305,078
Alternative Uses
Best Use
Multifamily LT 5
$423.2K
$370.3K – $493.8K
NOI $29,627 @ 7.0% cap · market cap 9.41%
Second Best
Apartment 5plus
$392.2K
$343.2K – $457.6K
NOI $27,457 @ 7.0% cap · market cap 8.72%
Theoretical Best
Office A
$565.5K
$494.8K – $659.7K
NOI $39,582 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
264
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three updated units with two residential apartments and one flexible commercial/office space.
Where is this triplex located?
The property is located at 1 Lincoln Avenue Troy, NY.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1890‑built three‑unit mixed‑use property with MU1 zoning in Troy; Two residential apartments plus one flexible unit for commercial, office, or studio use; Updates include renovated kitchens and bathrooms, new LVP flooring, new doors, and fresh paint throughout
