Five-Building Mixed-Use
For Sale
$850,000
104 Lord Avenue, Troy, NY 12180
COMMERCIAL - Troy, NY
Property Size4,996 SF
Lot Size14.81 Acres
Price / SF$170.14
Days on Market13
Property Features for 104 Lord Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 3, Bathroom 5, Bathroom 4, Bathroom 1, Bathroom 2
Parking
10
Parking features
Off Street
Patio and Porch features
Porch
Basement
Full
Lot features
Private, Road Frontage, Wooded
Directions
Hoosick St to Lord Ave
Standard status
Active
APN
382200 91.-2-42
Size
4,996 SF
Lot size
14.81 Acres
Taxes and HOA fees
Tax Annual Amount
3530
Utilities
Sewer type
Septic Tank
Heating system
Hot Water(Heating), Oil
Cooling system
Window Unit(s)
Water source
Spring
Building Details
Year built
1925
Flooring type
Concrete, Wood
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
KW Platform · Keller Williams Realty
(518) 281-6808
Listed By:
Scott P Varley · License #30VA0727304
(518) 281-6808
Added: Aug 4
Last Checked: Aug 16 at 7:06AM
MLS# 202623203
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.
This mixed-use compound includes five buildings across 14.81 acres, with a combined property size of 4,996 square feet. The improvements include two two-bedroom, one-bath homes, a three-bay metal storage garage, a workshop with a half bath on the lower level and two bathrooms upstairs, and a shed. The primary residence contains 816 square feet, a 500-gallon septic tank, and a 14-by-20-foot attached one-car garage. The second residence measures 1,500 square feet and is included in the offering.
The site is positioned just off Route 7 and minutes from downtown Troy's riverfront area. Grounds include grass fields and wooded sections. Mixed zoning applies, while additional property features include off-street parking, a porch, vinyl siding, concrete and wood flooring, oil-fired hot-water heat, window-unit cooling, spring water, and septic systems. The main structures date to 1925.
The site is positioned just off Route 7 and minutes from downtown Troy's riverfront area. Grounds include grass fields and wooded sections. Mixed zoning applies, while additional property features include off-street parking, a porch, vinyl siding, concrete and wood flooring, oil-fired hot-water heat, window-unit cooling, spring water, and septic systems. The main structures date to 1925.
Key Highlights
- Five‑building compound on 14.81 acres
- 4,996‑square‑foot property with mixed zoning
- Two‑bedroom, one‑bath primary home with 816 square feet
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
$49,460
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
5.82%
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%
$989,200
$989.2K
Cap Rate 7%
$706,571
$706.6K
Cap Rate 9%
$549,556
$549.6K
Market Conditions
NOI Build-Up for 4,996 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
$89.9K $18.00/SF
− Vacancy
−$10.8K −$2.16/SF
EGI
$79.1K $15.84/SF
− OpEx
−$29.7K −$5.94/SF
NOI
$49.5K $9.90/SF
Area
Albany County, NY
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$989,200
Cap Rate 7%
$706,571
Cap Rate 9%
$549,556
Alternative Uses
Best Use
Mixed Use
$706.6K
$618.3K – $824.3K
NOI $49,460 @ 7.0% cap · market cap 5.82%
Second Best
Industrial
$670.5K
$586.7K – $782.3K
NOI $46,935 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,128 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
239
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 Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property combines residential buildings, storage, workshop space, and wooded acreage near Route 7.
Where is this mixed-use property located?
The property is located at 104 Lord Avenue Troy, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Five‑building compound on 14.81 acres; 4,996‑square‑foot property with mixed zoning; Two‑bedroom, one‑bath primary home with 816 square feet
