Mixed-Use Property with Upper
For Sale
$648,400
1217 STATE HIGHWAY 7, Troy, NY 12180
Two-level property combines ground-floor commercial space with a three-bedroom upper-level residence and multiple outdoor amenities.
Property Size5,936 SF
Price / SF$109.23
Days on Market118
Property Features for 1217 STATE HIGHWAY 7
General Information
Standard status
Active
Size
5,936 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$10,707
Amenities
new gutters
central air
inground pool
large deck
front covered patio
whole building generator
Central Air
3
Hardwood, Tile, Carpet
Shingle
Parking.
15 Parking Spaces. Off Street, Paved Driveway, Private.
213x169x230x214
Garden.
Building Details
Year Built
1994
Buildings
1
Listing Agency:
Heer Realty Inc
(518) 424-1313
Listed By:
Carl Frost
(518) 424-1313
Source:
Xome
Added: May 7
Changed: Aug 31
Last Checked: Aug 31 at 2:50PM
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 Heer Realty Inc
Investment Insights
Based on property information with market context.
This 5,936-square-foot mixed-use property, built in 1994, combines commercial space on the ground floor with a substantial upper-level living area. The residence includes three bedrooms, two full baths, a spacious living room with a built-in fireplace, and an office or den. Central air serves the building, and the flooring includes hardwood, tile, and carpet.
Outdoor features include an inground pool, large deck, front covered patio, new gutters, and a whole-building generator. The property also provides 15 off-street parking spaces with a paved driveway and sits along the State Highway 7 corridor in Troy, New York. The commercial and residential components create a configuration suited to owner occupancy or investment use, subject to applicable approvals.
Outdoor features include an inground pool, large deck, front covered patio, new gutters, and a whole-building generator. The property also provides 15 off-street parking spaces with a paved driveway and sits along the State Highway 7 corridor in Troy, New York. The commercial and residential components create a configuration suited to owner occupancy or investment use, subject to applicable approvals.
Key Highlights
- 5,936 SF mixed‑use building constructed in 1994
- Ground‑floor commercial space with upper‑level 3‑bedroom residence
- Upper level includes 2 full baths, fireplace, and office/den
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
$58,766
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
9.06%
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%
$1,175,320
$1.2M
Cap Rate 7%
$839,514
$839.5K
Cap Rate 9%
$652,956
$653.0K
Market Conditions
NOI Build-Up for 5,936 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
$106.8K $18.00/SF
− Vacancy
−$12.8K −$2.16/SF
EGI
$94.0K $15.84/SF
− OpEx
−$35.3K −$5.94/SF
NOI
$58.8K $9.90/SF
Area
Albany 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%
$1,175,320
Cap Rate 7%
$839,514
Cap Rate 9%
$652,956
Alternative Uses
Best Use
Retail
$1.02M
$895.7K – $1.19M
NOI $71,652 @ 7.0% cap · market cap 11.05%
Second Best
Mixed Use
$839.5K
$734.6K – $979.4K
NOI $58,766 @ 7.0% cap · market cap 9.06%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,660 @ 7.0% cap · market cap 20.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
7k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
6,989 visits/mo
0.2 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level property combines ground-floor commercial space with a three-bedroom upper-level residence and multiple outdoor amenities.
Where is this mixed-use property located?
The property is located at 1217 STATE HIGHWAY 7 Troy, NY.
What is the asking price?
The asking price for this property is $648,400.
What are key features of this property?
This property features: 5,936 SF mixed‑use building constructed in 1994; Ground‑floor commercial space with upper‑level 3‑bedroom residence; Upper level includes 2 full baths, fireplace, and office/den
