Two-Story Multifamily
For Sale
Contact for pricing
116 PORTER ST, Schenectady, NY 12308
Two-story multifamily property with a full basement, porch areas, and multifamily zoning.
Property Size1,488 SF
Price / SF$188.10
Days on Market10
Property Features for 116 PORTER ST
General Information
Standard status
Active
Size
1,488 SF
Class
C
Property subtype
Multifamily
Zoning
03- Multi-Family
Building Details
Year Built
1905
Buildings
1
Stories
2
Units
3
Listing Agency:
KW Commercial Capital District
(518) 368-3932
Listed By:
Benjamin Romer · License #NY 10401317745
Source:
Crexi
Added: Aug 11
Changed: Aug 15
Last Checked: Aug 20 at 9:52AM
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 Commercial Capital District
Investment Insights
Based on property information with market context.
This multifamily property package includes 116 Porter Street and the adjacent 114 Porter Street. The 116 Porter residence contains 1,488 SF across two stories, with 4 bedrooms, 2 full baths, a full basement, and both covered and enclosed porch space. The property occupies a 3,049 SF lot and was built in 1905.
Zoned 03- Multi-Family, the property is offered with the adjoining Porter Street parcel, adding to the overall package. The address is in Schenectady, NY 12308, with schools, shopping, dining, parks, and major roadways identified in the surrounding area.
Zoned 03- Multi-Family, the property is offered with the adjoining Porter Street parcel, adding to the overall package. The address is in Schenectady, NY 12308, with schools, shopping, dining, parks, and major roadways identified in the surrounding area.
Key Highlights
- Package includes 116 Porter Street and adjacent 114 Porter Street
- 1,488 SF across two stories
- 4 bedrooms and 2 full baths
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
$15,200
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
5.43%
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%
$304,000
$304.0K
Cap Rate 7%
$217,143
$217.1K
Cap Rate 9%
$168,889
$168.9K
Market Conditions
NOI Build-Up for 1,488 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
$29.5K $19.80/SF
− Vacancy
−$1.8K −$1.23/SF
EGI
$27.6K $18.57/SF
− OpEx
−$12.4K −$8.36/SF
NOI
$15.2K $10.21/SF
Area
Schenectady County, NY
Vacancy
6.20%
Lease Rate
$19.80 /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%
$304,000
Cap Rate 7%
$217,143
Cap Rate 9%
$168,889
Alternative Uses
Best Use
Apartment 5plus
$217.1K
$190.0K – $253.3K
NOI $15,200 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$445.4K
$389.7K – $519.6K
NOI $31,177 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,782
Businesses Nearby
Explore this area
Business Placement
Demographics for 12308, NY
15,285
Population
6,442
Households
2.4
Avg Household Size
31
Median Age
29%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
6,646
Density / Sq Mi
$59,789
Median Household Income
$35,966
Median Earnings
$1,159
Median Rent
$180,100
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 - Two-story multifamily property with a full basement, porch areas, and multifamily zoning.
Where is this multifamily property located?
The property is located at 116 PORTER ST Schenectady, NY.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Package includes 116 Porter Street and adjacent 114 Porter Street; 1,488 SF across two stories; 4 bedrooms and 2 full baths
