Five-Building Mixed-Use
For Sale
$850,000
104 Lord Avenue, Troy, NY 12180
Commercial Sale, Troy, NY
Property Size4,996 SF
Lot Size14.81 Acres
Price / SF$170.14
Days on Market59
Property Features for 104 Lord Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 1, Bathroom 5
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
Oil, Hot Water(Heating)
Cooling system
Window Unit(s)
Water source
Spring
Building Details
Year built
1925
Flooring type
Wood, Concrete
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) 693-1080
Added: Aug 4
Changed: Sep 12
Last Checked: Oct 1 at 9:06PM
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 property comprises a five-building compound on 14.81 acres in Troy, New York. Improvements include an 816-square-foot, two-bedroom, one-bath home with a 500-gallon septic tank and attached 14-by-20-foot garage; a three-bay metal storage garage; a 2,400-square-foot shop with a half bath, large upper-level room, two upstairs bathrooms, and a 2,000-gallon septic system; and a second 1,500-square-foot, two-bedroom, one-bath home. A shed is also included.
The property is located just off Route 7 at 104 Lord Avenue, with a mix of grass fields and wooded acreage. Mixed zoning supports a range of potential property applications, subject to applicable approvals. Additional features include vinyl siding, wood and concrete flooring, oil and hot-water heating, window-unit cooling, off-street parking, a porch, spring water, and septic service. The improvements date to 1925, and lease options will be considered.
The property is located just off Route 7 at 104 Lord Avenue, with a mix of grass fields and wooded acreage. Mixed zoning supports a range of potential property applications, subject to applicable approvals. Additional features include vinyl siding, wood and concrete flooring, oil and hot-water heating, window-unit cooling, off-street parking, a porch, spring water, and septic service. The improvements date to 1925, and lease options will be considered.
Key Highlights
- 14.81‑acre mixed‑use property with a five‑building compound
- Located just off Route 7 in Troy, NY
- 816‑square‑foot, two‑bedroom home with 500‑gallon septic tank and 14‑by‑20‑foot attached garage
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
Rensselaer 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
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,424 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
254
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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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use zoning covers a multi-building property with residential, storage, workshop, field, and wooded components.
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: 14.81‑acre mixed‑use property with a five‑building compound; Located just off Route 7 in Troy, NY; 816‑square‑foot, two‑bedroom home with 500‑gallon septic tank and 14‑by‑20‑foot attached garage
