Mixed-Use Building with
New
For Sale
$389,900
113-115 S Ferry Street, Schenectady, NY 12305
First-floor café space is paired with residential units on the upper levels.
Property Size2,558 SF
Price / SF$152.42
Days on Market5
Property Features for 113-115 S Ferry Street
General Information
Standard status
Active
Size
2,558 SF
Property subtype
Multi-family
Building Details
Year Built
1910
Listing Agency:
Armida Rose Realty Group
Listed By:
Dawn L Morrison
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Aug 16
Changed: Aug 20
Last Checked: Aug 20 at 3:10AM
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 Armida Rose Realty Group
Investment Insights
Based on property information with market context.
This mixed-use property combines a first-floor cafe with four residential rentals arranged across the second and third floors. The residential component includes 2 studios and 2 one-bedroom units, creating a compact combination of commercial and apartment space within a building constructed in 1910. The cafe has a new furnace, while the exterior has been recently painted.
The property includes 5 separate electric meters, 1 gas meter, and 1 water meter. It is located at 113-115 S Ferry Street in Schenectady’s Historic Stockade, with downtown-area amenities including Mohawk Harbor, Rivers Casino, Proctors Theater, and Jay Street Marketplace located minutes away.
The property includes 5 separate electric meters, 1 gas meter, and 1 water meter. It is located at 113-115 S Ferry Street in Schenectady’s Historic Stockade, with downtown-area amenities including Mohawk Harbor, Rivers Casino, Proctors Theater, and Jay Street Marketplace located minutes away.
Key Highlights
- First‑floor cafe with 4 residential rentals above
- Residential mix includes 2 studios and 2 one‑bedroom units
- 5 separate electric meters, 1 gas meter, and 1 water meter
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
$35,300
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
9.05%
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%
$706,000
$706.0K
Cap Rate 7%
$504,286
$504.3K
Cap Rate 9%
$392,222
$392.2K
Market Conditions
NOI Build-Up for 2,558 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
$61.4K $24.00/SF
− Vacancy
−$4.9K −$1.92/SF
EGI
$56.5K $22.08/SF
− OpEx
−$21.2K −$8.28/SF
NOI
$35.3K $13.80/SF
Area
Schenectady County, NY
Vacancy
8.00%
Lease Rate
$24.00 /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%
$706,000
Cap Rate 7%
$504,286
Cap Rate 9%
$392,222
Alternative Uses
Best Use
Specialty Retail
$513.6K
$449.4K – $599.2K
NOI $35,950 @ 7.0% cap · market cap 9.22%
Second Best
Mixed Use
$504.3K
$441.3K – $588.3K
NOI $35,300 @ 7.0% cap · market cap 9.05%
Theoretical Best
Office A
$765.6K
$669.9K – $893.3K
NOI $53,595 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,779
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?
Mixed-use property - First-floor café space is paired with residential units on the upper levels.
Where is this mixed-use property located?
The property is located at 113-115 S Ferry Street Schenectady, NY.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: First‑floor cafe with 4 residential rentals above; Residential mix includes 2 studios and 2 one‑bedroom units; 5 separate electric meters, 1 gas meter, and 1 water meter
