Renovated Four-Unit Multifamily
For Sale
$725,000
116 Clamsteam Road, Halfmoon, NY 12065
Three units occupy the main building, with a separate two-bedroom, two-bath home at the rear.
Property Size4,500 SF
Price / SF$161.11
Days on Market38
Property Features for 116 Clamsteam Road
General Information
Standard status
Active
Size
4,500 SF
Total Parking Spaces
10
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,088
Amenities
off-street parking
common laundry area
Building Details
Year Built
1880
Buildings
2
Listing Agency:
KW Platform
(518) 573-6687
Listed By:
Douglas Bricker · License #30BR0747387
(518) 573-6687
Source:
Capmarkrealty
Added: Jul 24
Changed: Aug 30
Last Checked: Aug 30 at 1:40PM
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 KW Platform
Investment Insights
Based on property information with market context.
Renovations have updated the kitchens, bathrooms, and flooring across this four-unit multifamily property. Three units are located in the primary building, while a separate rear residence provides two bedrooms, two full baths, and first-floor living space with hardwood flooring. The home also includes a new kitchen with a dishwasher and a large primary bedroom with a walk-in closet.
The property includes off-street parking, a shared laundry area, and additional parking and exterior storage space. Utilities are separately metered for each unit. Built in 1880, the property combines a multi-unit configuration with a standalone residential component and recently completed interior improvements.
The property includes off-street parking, a shared laundry area, and additional parking and exterior storage space. Utilities are separately metered for each unit. Built in 1880, the property combines a multi-unit configuration with a standalone residential component and recently completed interior improvements.
Key Highlights
- Four‑unit configuration with three units in the main building and a separate rear residence
- Rear home includes 2 bedrooms, 2 full baths, and first‑floor living space
- Updated kitchens, bathrooms, and flooring throughout 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
$59,750
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
8.24%
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%
$1,195,000
$1.2M
Cap Rate 7%
$853,571
$853.6K
Cap Rate 9%
$663,889
$663.9K
Market Conditions
NOI Build-Up for 4,500 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
$113.4K $25.20/SF
− Vacancy
−$4.8K −$1.06/SF
EGI
$108.6K $24.14/SF
− OpEx
−$48.9K −$10.86/SF
NOI
$59.8K $13.28/SF
Area
Saratoga County, NY
Vacancy
4.20%
Lease Rate
$25.20 /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%
$1,195,000
Cap Rate 7%
$853,571
Cap Rate 9%
$663,889
Alternative Uses
Best Use
Apartment 5plus
$853.6K
$746.9K – $995.8K
NOI $59,750 @ 7.0% cap · market cap 8.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,284 @ 7.0% cap · market cap 13.00%
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
22
Businesses Nearby
Explore this area
Business Placement
Demographics for 12065, NY
43,893
Population
19,506
Households
2.3
Avg Household Size
42
Median Age
53%
College-Educated
95%
High-School Grad
35.1 sq mi
ZIP Area
1,251
Density / Sq Mi
$115,681
Median Household Income
$61,692
Median Earnings
$1,419
Median Rent
$356,900
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?
Multifamily property - Three units occupy the main building, with a separate two-bedroom, two-bath home at the rear.
Where is this multifamily property located?
The property is located at 116 Clamsteam Road Halfmoon, NY.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Four‑unit configuration with three units in the main building and a separate rear residence; Rear home includes 2 bedrooms, 2 full baths, and first‑floor living space; Updated kitchens, bathrooms, and flooring throughout the property
