Quadplex With
For Sale
$469,900
Pending
110 Lancaster St, Cohoes, NY 12047
Separate utilities support simpler ownership and expense management.
Property Size3,762 SF
Days on Market49
Property Features for 110 Lancaster St
General Information
Standard status
Pending
Size
3,762 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,257
Listing Agency:
Berkshire Hathaway Home Services Blake
(518) 727-7493
Listed By:
Leon Levy · License #30LE0983094
(518) 727-7493
Source:
Exprealty
Added: Jun 29
Changed: Aug 8
Last Checked: Aug 15 at 11:16AM
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 Berkshire Hathaway Home Services Blake
Investment Insights
Based on property information with market context.
Located at 110 Lancaster St in Cohoes, NY, this 3,762-square-foot quadplex contains four residential units and includes an accompanying garage. The property is described as well maintained and in above-average condition, with care reflected throughout the improvements.
Long-duration tenants provide established occupancy, while separate utilities help simplify the allocation and oversight of property expenses. The garage adds functional space beyond the residential units and is currently rented, creating an additional operating component for the property.
Long-duration tenants provide established occupancy, while separate utilities help simplify the allocation and oversight of property expenses. The garage adds functional space beyond the residential units and is currently rented, creating an additional operating component for the property.
Key Highlights
- Four residential units within a 3,762‑square‑foot property
- Garage included and currently rented
- Separate utilities across the property
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
$40,184
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
8.55%
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%
$803,680
$803.7K
Cap Rate 7%
$574,057
$574.1K
Cap Rate 9%
$446,489
$446.5K
Market Conditions
NOI Build-Up for 3,762 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
$76.7K $20.40/SF
− Vacancy
−$3.7K −$0.98/SF
EGI
$73.1K $19.42/SF
− OpEx
−$32.9K −$8.74/SF
NOI
$40.2K $10.68/SF
Area
Albany County, NY
Vacancy
4.80%
Lease Rate
$20.40 /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%
$803,680
Cap Rate 7%
$574,057
Cap Rate 9%
$446,489
Alternative Uses
Best Use
Multifamily LT 5
$620.5K
$543.0K – $724.0K
NOI $43,438 @ 7.0% cap · market cap 9.24%
Second Best
Apartment 5plus
$574.1K
$502.3K – $669.7K
NOI $40,184 @ 7.0% cap · market cap 8.55%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,174 @ 7.0% cap · market cap 17.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
Explore this area
Business Placement
Demographics for 12047, NY
23,347
Population
10,963
Households
2.1
Avg Household Size
40
Median Age
33%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
2,653
Density / Sq Mi
$66,970
Median Household Income
$46,476
Median Earnings
$1,213
Median Rent
$237,200
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?
Quadplex - Separate utilities support simpler ownership and expense management.
Where is this quadplex located?
The property is located at 110 Lancaster St Cohoes, NY.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Four residential units within a 3,762‑square‑foot property; Garage included and currently rented; Separate utilities across the property
