Renovated 8-Unit Apartment
For Sale
$774,900
81 Ten Broeck Street, Albany, NY 12210
Eight residential units feature separate utilities, efficient on-demand hot water, and preserved architectural details.
Property Size3,186 SF
Price / SF$243.22
Days on Market46
Property Features for 81 Ten Broeck Street
General Information
Standard status
Active
Size
3,186 SF
Property subtype
Multi-Family
Zoning
Multi Residence
Units
Unit Mix
7 x 1BR/1BA, 1 x studio
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$13,376
Building Details
Year Built
1941
Listing Agency:
Lincoln House Realty
Listed By:
John Alund · License #10491208073
(518) 469-6238
Source:
Capmarkrealty
Added: Jul 24
Changed: Aug 29
Last Checked: Sep 7 at 4:59AM
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 Lincoln House Realty
Investment Insights
Based on property information with market context.
This 8-unit apartment building in Albany’s Historic Ten Broeck Triangle was built in 1941 and has undergone a full renovation. The unit mix includes seven one-bedroom, one-bath apartments and one studio. Each apartment is served by separate utilities and an individual Navien high-efficiency on-demand hot water tank.
Interior features include hardwood flooring, crown molding, full-floor mirrors, soaring ceilings, marble fireplaces, solid-surface countertops, and wood cabinetry. The building combines original architectural character with updated finishes and building systems. Its Multi Residence zoning supports the existing apartment configuration, while the address at 81 Ten Broeck Street places the property within the stated historic district context.
Interior features include hardwood flooring, crown molding, full-floor mirrors, soaring ceilings, marble fireplaces, solid-surface countertops, and wood cabinetry. The building combines original architectural character with updated finishes and building systems. Its Multi Residence zoning supports the existing apartment configuration, while the address at 81 Ten Broeck Street places the property within the stated historic district context.
Key Highlights
- 8‑unit apartment building with 7 one‑bedroom/1 bath units and 1 studio
- Fully renovated building constructed in 1941
- Separate utilities for each apartment
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
$32,544
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
4.20%
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%
$650,880
$650.9K
Cap Rate 7%
$464,914
$464.9K
Cap Rate 9%
$361,600
$361.6K
Market Conditions
NOI Build-Up for 3,186 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
$63.1K $19.80/SF
− Vacancy
−$3.9K −$1.23/SF
EGI
$59.2K $18.57/SF
− OpEx
−$26.6K −$8.36/SF
NOI
$32.5K $10.21/SF
Area
Albany, 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%
$650,880
Cap Rate 7%
$464,914
Cap Rate 9%
$361,600
Alternative Uses
Best Use
Apartment 5plus
$464.9K
$406.8K – $542.4K
NOI $32,544 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$840.6K
$735.5K – $980.7K
NOI $58,839 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
3,082
Businesses Nearby
Explore this area
Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
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?
Apartment building - Eight residential units feature separate utilities, efficient on-demand hot water, and preserved architectural details.
Where is this apartment building located?
The property is located at 81 Ten Broeck Street Albany, NY.
What is the asking price?
The asking price for this property is $774,900.
What are key features of this property?
This property features: 8‑unit apartment building with 7 one‑bedroom/1 bath units and 1 studio; Fully renovated building constructed in 1941; Separate utilities for each apartment
