Turnkey Six-Unit Multifamily
For Sale
$725,000
319 Speigletown Road, Troy, NY 12182
Fully occupied six-unit property with recent exterior and interior upgrades, plus an on-site garage for added storage or rental use.
Property Size3,720 SF
Price / SF$194.89
Days on Market469
Property Features for 319 Speigletown Road
General Information
Standard status
Active
Size
3,720 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
6
Building Details
Year Built
1940
Tenancy
Multi
Listing Agency:
Berkshire Hathaway Home Services Blake
Listed By:
Karen Zalewski-Wildzunas
(518) 639-4663
Source:
Signatureonerealtygroup
Added: May 19, 2025
Changed: Aug 28
Last Checked: Aug 29 at 10:59AM
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.
319 Speigletown Road is a fully occupied six-unit multifamily building presented as turnkey. The property has been extensively improved with new electric, a new roof, new siding, and numerous interior updates throughout, supporting a low-maintenance ownership experience.
An on-site garage adds practical flexibility for storage or additional income, depending on how it’s utilized. The building is located on the outskirts of Troy.
The offer is for the six-unit building at 319 Speigletown Road, and it can also be sold in combination with 23–24 Prospect Ave and 1105 Hutton St (Troy, NY), if desired.
An on-site garage adds practical flexibility for storage or additional income, depending on how it’s utilized. The building is located on the outskirts of Troy.
The offer is for the six-unit building at 319 Speigletown Road, and it can also be sold in combination with 23–24 Prospect Ave and 1105 Hutton St (Troy, NY), if desired.
Key Highlights
- Fully occupied six‑unit building at 319 Speigletown Rd, built in 1940
- Extensively improved with new electric, a new roof, and new siding
- Numerous interior updates throughout the building
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
$39,735
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
5.48%
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%
$794,700
$794.7K
Cap Rate 7%
$567,643
$567.6K
Cap Rate 9%
$441,500
$441.5K
Market Conditions
NOI Build-Up for 3,720 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
$75.9K $20.40/SF
− Vacancy
−$3.6K −$0.98/SF
EGI
$72.2K $19.42/SF
− OpEx
−$32.5K −$8.74/SF
NOI
$39.7K $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%
$794,700
Cap Rate 7%
$567,643
Cap Rate 9%
$441,500
Alternative Uses
Best Use
Apartment 5plus
$567.6K
$496.7K – $662.3K
NOI $39,735 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,256 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Explore this area
Business Placement
Demographics for 12182, NY
14,657
Population
7,314
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
1,070
Density / Sq Mi
$54,663
Median Household Income
$47,077
Median Earnings
$1,012
Median Rent
$195,300
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?
Apartment building - Fully occupied six-unit property with recent exterior and interior upgrades, plus an on-site garage for added storage or rental use.
Where is this apartment building located?
The property is located at 319 Speigletown Road Troy, 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: Fully occupied six‑unit building at 319 Speigletown Rd, built in 1940; Extensively improved with new electric, a new roof, and new siding; Numerous interior updates throughout the building
