Renovated Mixed-Use
For Sale
$3,600,000
132 BROADWAY, Schenectady, NY 12305
Four-story property combines residential occupancy with a ground-floor retail space and loft-style finishes.
Property Size26,718 SF
Price / SF$134.74
Days on Market14
Property Features for 132 BROADWAY
General Information
Standard status
Active
Size
26,718 SF
Property subtype
Mixed Use
Occupancy
100%
Units
Unit Mix
1 x studio, 5 x 1BR, 5 x 3BR
Multifamily Units
11
Additional Details
Cap Rate
7.4%
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$18,072
Amenities
Central Air
3
Rubber
137'x87'
Building Details
Year Built
1907
Year Renovated
2021
Buildings
1
Stories
4
Tenancy
Multi
Listing Agency:
Carrow Real Estate Services LLC
(845) 325-1568
Listed By:
Kyle Bradley · License #10301200002
(845) 325-1568
Source:
Xome
Added: Aug 18
Changed: Aug 31
Last Checked: Aug 25 at 4:09AM
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 Carrow Real Estate Services LLC
Investment Insights
Based on property information with market context.
This four-story mixed-use building contains approximately 26,718 square feet and underwent a complete renovation in 2021. The property combines residential space with a ground-floor commercial area finished in an industrial loft style. It is fully occupied, and the retail space is leased to a long-term tenant with five years remaining on the term.
The building is positioned in Downtown Schenectady near State Street, with dining and entertainment options located within immediate walking distance. A PILOT program remains in place through 2031. In-place income reflects a 7.40% cap rate.
The building is positioned in Downtown Schenectady near State Street, with dining and entertainment options located within immediate walking distance. A PILOT program remains in place through 2031. In-place income reflects a 7.40% cap rate.
Key Highlights
- Approximately 26,718 square feet across four stories
- Completely renovated in 2021 with industrial loft‑style finishes
- 100% occupied mixed‑use 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
$322,508
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
8.96%
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%
$6,450,160
$6.5M
Cap Rate 7%
$4,607,257
$4.6M
Cap Rate 9%
$3,583,422
$3.6M
Market Conditions
NOI Build-Up for 26,718 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
$480.9K $18.00/SF
− Vacancy
−$20.2K −$0.76/SF
EGI
$460.7K $17.24/SF
− OpEx
−$138.2K −$5.17/SF
NOI
$322.5K $12.07/SF
Area
Schenectady County, NY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$6,450,160
Cap Rate 7%
$4,607,257
Cap Rate 9%
$3,583,422
Alternative Uses
Best Use
Mixed Use
$5.27M
$4.61M – $6.15M
NOI $368,708 @ 7.0% cap · market cap 10.24%
Second Best
Retail
$4.61M
$4.03M – $5.38M
NOI $322,508 @ 7.0% cap · market cap 8.96%
Theoretical Best
Office A
$8.00M
$7.00M – $9.33M
NOI $559,796 @ 7.0% cap · market cap 15.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,115
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 - Four-story property combines residential occupancy with a ground-floor retail space and loft-style finishes.
Where is this mixed-use property located?
The property is located at 132 BROADWAY Schenectady, NY.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: Approximately 26,718 square feet across four stories; Completely renovated in 2021 with industrial loft‑style finishes; 100% occupied mixed‑use property
