Building Details

Year Built 1955

Construction brick

Listing Agency: Re Max Solutions

Listed By: Ferdinando Bruno · License #10491208177 Show Phone

Source: Capmarkrealty

Added: Oct 9 Changed: Oct 10 Last Checked: Oct 12 at 4:52PM

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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 Re Max Solutions

Investment Insights

Based on property information with market context.

The 2,944-square-foot brick triplex contains three apartments: a first-floor two-bedroom, one-bath unit and two upper-level one-bedroom, one-bath units. The first-floor apartment connects to a basement recreation room with a wood-burning fireplace. The basement also includes shared laundry, a half bath, and storage. The right-side upper apartment has a deck above the garage and a separate entrance. Hardwood floors extend through much of the building, and some windows have been replaced. A backup generator serves the first-floor apartment.

The property includes an attached one-car garage and a separate two-car garage at the rear. Public water and sewer serve the building, which has two electric services and a single gas-fired hot water heating system. Built in 1955, the triplex is offered with a cleared, vacant 60-by-100-foot lot across the corner on N Bridge Street. The lot requires variances for construction and may be used as an extension of the backyard.

Key Highlights

• Three apartments: one 2‑bedroom unit and two 1‑bedroom units
• 2,944 square feet; brick construction; built in 1955
• Attached 1‑car garage plus a separate 2‑car garage at the rear

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,993

Cap Rate

5.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$679,860 $679.9K

Cap Rate 7%

$485,614 $485.6K

Cap Rate 9%

$377,700 $377.7K

Market Conditions

NOI Build-Up for 2,944 SF

Gross rent

$51.2K $17.40/SF

− Vacancy

−$2.7K −$0.90/SF

EGI

$48.6K $16.50/SF

− OpEx

−$14.6K −$4.95/SF

NOI

$34.0K $11.55/SF

Area

Albany County, NY

Vacancy

5.20%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$679,860

Cap Rate 7%

$485,614

Cap Rate 9%

$377,700

Alternative Uses

Best Use

Multifamily LT 5

$485.6K

$424.9K – $566.6K (±1% cap)

NOI $33,993 @ 7.0% cap · market cap 5.91%

Second Best

Apartment 5plus

$449.2K

$393.1K – $524.1K (±1% cap)

NOI $31,446 @ 7.0% cap · market cap 5.47%

Theoretical Best

Office A

$918.7K

$803.8K – $1.07M (±1% cap)

NOI $64,306 @ 7.0% cap · market cap 11.18%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Electrical Service Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Building Supply Auto Parts Store HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

156

Businesses Nearby

Explore this area Business Placement

Demographics for 12203, NY

28,210

Population

14,755

Households

1.9

Avg Household Size

38

Median Age

54%

College-Educated

95%

High-School Grad

10.4 sq mi

ZIP Area

2,713

Density / Sq Mi

$80,055

Median Household Income

$44,412

Median Earnings

$1,342

Median Rent

$258,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Triplex - Three apartments include a two-bedroom unit, two one-bedroom units, and shared basement laundry and recreation space.

Where is this triplex located?

The property is located at 10 Pine Street Bethlehem, NY.

What is the asking price?

The asking price for this property is $575,000.

What are key features of this property?

This property features: Three apartments: one 2‑bedroom unit and two 1‑bedroom units; 2,944 square feet; brick construction; built in 1955; Attached 1‑car garage plus a separate 2‑car garage at the rear