Modernized Mixed-Use Commercial
For Sale
$449,900
1011-1015 Hoosick Road, Troy, NY 12180
Unique, modernized mixed-use property with two buildings and flexible usage.
Property Size2,768 SF
Price / SF$162.54
Days on Market241
Property Features for 1011-1015 Hoosick Road
General Information
Standard status
Active
Size
2,768 SF
Property subtype
Commercial
Amenities
Accessible Doors
Accessible Full Bath
Accessible Hallway(s)
Accessible Kitchen
Accessible Sidewalks
Building Details
Year Built
1872
Listing Agency:
Heer Realty Inc
Listed By:
John A Mainello · License #40MA1036191
(518) 272-4500
Source:
Signatureonerealtygroup
Added: Jan 7
Changed: Sep 4
Last Checked: Sep 4 at 9:57AM
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 Heer Realty Inc
Investment Insights
Based on property information with market context.
This unique mixed-use commercial property offers a modernized space while retaining its original 1872 schoolhouse charm. The property includes two buildings. The primary two-story building, previously a law firm and later a cafe, features updated plumbing, a 200 amp electrical system, one full and two half bathrooms, Buderus hot water radiators, insulation, and Pella windows. Additional features include a laundry area with a hidden safe, a commercial kitchen with an Ansil system, an exhaust and ventilation system, a gas boiler, central AC, landscaping with an irrigation system, and new outdoor lights with electrical connections for a commercial sign. The second building is a large 24-foot by 48-foot two-story garage suitable for warehousing or storage. The first floor has 10-foot ceilings and a rear 24-foot by 16-foot finished, heated personal office area. A full second floor provides additional storage space. The combined second-floor areas offer over 4500 square feet of usable space. A covered walking bridge connects the two buildings. The property offers unlimited usage variations, such as running a business from both buildings, operating a business in one and renting out the other, or using the front for business and living in the rear. The property size is 2768 square feet.
Key Highlights
- Unique mixed‑use opportunity in a modernized 1872 school building.
- Two buildings: renovated cafe with commercial kitchen and a large two‑story garage/warehouse with office space.
- 4500+ sqft of usable space across both buildings, connected by a nostalgic covered walking bridge.
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
$35,799
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
7.96%
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%
$715,980
$716.0K
Cap Rate 7%
$511,414
$511.4K
Cap Rate 9%
$397,767
$397.8K
Market Conditions
NOI Build-Up for 2,768 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
$49.8K $18.00/SF
− Vacancy
−$2.1K −$0.76/SF
EGI
$47.7K $17.24/SF
− OpEx
−$11.9K −$4.31/SF
NOI
$35.8K $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%
$715,980
Cap Rate 7%
$511,414
Cap Rate 9%
$397,767
Alternative Uses
Best Use
Office B
$610.7K
$534.4K – $712.5K
NOI $42,749 @ 7.0% cap · market cap 9.50%
Second Best
Specialty Retail
$511.4K
$447.5K – $596.7K
NOI $35,799 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$863.7K
$755.8K – $1.01M
NOI $60,462 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
58
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Unique, modernized mixed-use property with two buildings and flexible usage.
Where is this mixed-use property located?
The property is located at 1011-1015 Hoosick Road Troy, NY.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Unique mixed‑use opportunity in a modernized 1872 school building.; Two buildings: **renovated cafe with commercial kitchen** and a large two‑story garage/warehouse with office space.; 4500+ sqft of usable space across both buildings, connected by a nostalgic covered walking bridge.
