Updated Quadplex with
New
For Sale
$550,000
402 Clinton Avenue, Albany, NY 12206
Commercial-zoned property features four large apartments and gated backyard access.
Property Size2,822 SF
Price / SF$194.90
Days on Market4
Property Features for 402 Clinton Avenue
General Information
Standard status
Active
Size
2,822 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
Commercial
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,707
Building Details
Year Built
1909
Buildings
1
Construction
brick
Listing Agency:
KW Platform
Listed By:
Luke Khachadourian · License #10301219050
(518) 937-3252
Source:
Capmarkrealty
Added: Sep 28
Last Checked: Oct 1 at 8:23AM
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 Platform
Investment Insights
Based on property information with market context.
This 2,822-square-foot brick quadplex was built in 1909 and has undergone updates while retaining original architectural details. Four apartments offer generous layouts, and the property includes a two-car garage and gated access to backyard space. The building is fully rented, with the third floor available vacant for delivery. Commercial zoning is in place.
Key Highlights
- Four‑unit brick building with 2,822 square feet
- Built in 1909; updated while preserving original details
- Two‑car garage and gated backyard access
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
$32,138
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
5.84%
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%
$642,760
$642.8K
Cap Rate 7%
$459,114
$459.1K
Cap Rate 9%
$357,089
$357.1K
Market Conditions
NOI Build-Up for 2,822 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
$49.1K $17.40/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$45.9K $16.27/SF
− OpEx
−$13.8K −$4.88/SF
NOI
$32.1K $11.39/SF
Area
Albany, NY
Vacancy
6.50%
Lease Rate
$17.40 /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%
$642,760
Cap Rate 7%
$459,114
Cap Rate 9%
$357,089
Alternative Uses
Best Use
Multifamily LT 5
$459.1K
$401.7K – $535.6K
NOI $32,138 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$411.8K
$360.3K – $480.4K
NOI $28,826 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$744.5K
$651.5K – $868.6K
NOI $52,117 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,685
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Commercial-zoned property features four large apartments and gated backyard access.
Where is this quadplex located?
The property is located at 402 Clinton Avenue Albany, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four‑unit brick building with 2,822 square feet; Built in 1909; updated while preserving original details; Two‑car garage and gated backyard access
