8-Townhome Apartment
For Sale
$2,100,000
Pending
1001-1015 Barrett St, Schenectady, NY 12305
COMMERCIAL - Schenectady, NY
Property Size11,000 SF
Lot Size0.25 Acres
Days on Market94
Property Features for 1001-1015 Barrett St
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
16
Full bathrooms
8
Half bathrooms
8
Rooms
Bathroom 6, Bathroom 7, Bathroom 9, Bathroom 12, Bathroom 16, Bathroom 11, Bathroom 2, Bathroom 13, Bathroom 14, Bathroom 15, Bathroom 3, Bathroom 1, Bathroom 8, Bathroom 10, Bathroom 4, Bathroom 5
Security features
Security System
Standard status
Pending
Size
11,000 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
16979
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
2013
Floors in Building
2
Flooring type
Hardwood, Carpet
Building materials
Stucco
Listing Agency:
Voro LLC
(877) 943-8676
Listed By:
Denis Kalic
(877) 943-8676
Added: May 22
Changed: Aug 4
Last Checked: Aug 23 at 6:06AM
MLS# 11780643
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.
Investment Insights
Based on property information with market context.
8 consecutive, turnkey townhomes are offered on a single lot at 1001-1015 Barrett St in Schenectady, NY. Built in 2013, the homes are designed with 2 bedrooms plus a bonus room and 1.5 bathrooms each. Each townhome includes in-unit washer/dryer, central heating and air conditioning, and private garage parking.
The property totals 0.25 acres and 11,000 square feet, with stucco construction and a mix of hardwood and carpet flooring. Heating is natural gas forced air, and the water source is public.
The location is in the heart of Downtown Schenectady, with walkable access to Proctors Theatre and Union College, and proximity to GE, along with the city’s expanding restaurant and entertainment district.
The property totals 0.25 acres and 11,000 square feet, with stucco construction and a mix of hardwood and carpet flooring. Heating is natural gas forced air, and the water source is public.
The location is in the heart of Downtown Schenectady, with walkable access to Proctors Theatre and Union College, and proximity to GE, along with the city’s expanding restaurant and entertainment district.
Key Highlights
- 8 consecutive, turnkey townhomes on a single lot
- Each home features 2 bedrooms plus a bonus room and 1.5 bathrooms
- In‑unit washer/dryer, central heating and air conditioning in every townhome
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
$112,363
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
5.35%
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%
$2,247,260
$2.2M
Cap Rate 7%
$1,605,186
$1.6M
Cap Rate 9%
$1,248,478
$1.2M
Market Conditions
NOI Build-Up for 11,000 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
$217.8K $19.80/SF
− Vacancy
−$13.5K −$1.23/SF
EGI
$204.3K $18.57/SF
− OpEx
−$91.9K −$8.36/SF
NOI
$112.4K $10.21/SF
Area
Schenectady County, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$2,247,260
Cap Rate 7%
$1,605,186
Cap Rate 9%
$1,248,478
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.40M – $1.87M
NOI $112,363 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,472 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
2,095
Businesses Nearby
Explore this area
Business Placement
Demographics for 12305, NY
6,085
Population
4,103
Households
1.5
Avg Household Size
37
Median Age
34%
College-Educated
88%
High-School Grad
1.5 sq mi
ZIP Area
4,057
Density / Sq Mi
$50,308
Median Household Income
$34,228
Median Earnings
$1,067
Median Rent
$162,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight townhomes with in-unit washer/dryer, central heating and air, and private garage parking.
Where is this apartment building located?
The property is located at 1001-1015 Barrett St Schenectady, NY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 8 consecutive, turnkey townhomes on a single lot; Each home features 2 bedrooms plus a bonus room and 1.5 bathrooms; In‑unit washer/dryer, central heating and air conditioning in every townhome
