Four-Building Duplex
New
For Sale
$999,900
14 Chatham Street, Nassau, NY 12123
Commercial Sale, Nassau, NY
Property Size6,558 SF
Lot Size1.00 Acre
Price / SF$152.47
Days on Market3
Property Features for 14 Chatham Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Multi Residence
Bathrooms
9
Full bathrooms
8
Half bathrooms
1
Rooms
Bathroom 7, Bathroom 1, Bathroom 9, Bathroom 3, Bathroom 4, Bathroom 2, Bathroom 6, Bathroom 8, Bathroom 5
Parking
20
Parking features
Off Street
Interior features
High Speed Internet, Paddle Fan
Basement
Full, Unfinished
Lot features
Road Frontage, Level, Cleared, Irregular Lot
High school
Columbia
Elementary school district
East Greenbush
Middle school district
East Greenbush
High school district
East Greenbush
Directions
Route 9 & 20 into Village of Nassau. Right at the lighted intersection of Route 203 in the village. #14 is second one on the right after Cumberland Farms.
Standard status
Active
APN
383001 211.12-6-11
Size
6,558 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Annual Amount
8107
Utilities
Sewer type
Shared Septic
Heating system
Oil, Electric (Heating), Forced Air, Baseboard
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Flooring type
Carpet, Vinyl, Linoleum, Laminate
Building materials
Frame, Block, Drywall, Vinyl Siding
Roof type
Shingle, Asphalt, Rolled Hot Mop, Metal
Architectural style
Other
Listing Agency:
Berkshire Hathaway Home Services Blake · Berkshire Hathaway HomeServices
(518) 758-1300
Listed By:
Karen R Westman · License #30WE1064299
(518) 366-7788
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 1 at 10:06PM
MLS# 202627395
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6,558-square-foot duplex property comprises four buildings and eight rented units: two upper-and-lower duplexes and two side-by-side duplexes. Six apartments have received updates to kitchens, bathrooms, appliances, lighting, water heaters, flooring, and paint. Exterior work includes new siding, new or recoated roofs, and four replacement electrical services. The property carries a 9+ cap rate and is zoned Multi Residence.
The one-acre village parcel runs between Chatham Street and Johns Street, with the Rail Trail near the rear entrance and village shops and restaurants close by. The site has shared septic and public water.
Village-approved plans and permits, along with County-approved septic plans, cover converting the garage into two two-bedroom apartments. Separate septic plans outline a possible basement conversion into another two-bedroom apartment, subject to town approval.
The one-acre village parcel runs between Chatham Street and Johns Street, with the Rail Trail near the rear entrance and village shops and restaurants close by. The site has shared septic and public water.
Village-approved plans and permits, along with County-approved septic plans, cover converting the garage into two two-bedroom apartments. Separate septic plans outline a possible basement conversion into another two-bedroom apartment, subject to town approval.
Key Highlights
- Eight rented apartments across four buildings
- 9+ cap rate
- One‑acre parcel with 6,558 square feet of property size
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
$85,895
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
8.59%
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%
$1,717,900
$1.7M
Cap Rate 7%
$1,227,071
$1.2M
Cap Rate 9%
$954,389
$954.4K
Market Conditions
NOI Build-Up for 6,558 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
$129.8K $19.80/SF
− Vacancy
−$7.1K −$1.09/SF
EGI
$122.7K $18.71/SF
− OpEx
−$36.8K −$5.61/SF
NOI
$85.9K $13.10/SF
Area
Rensselaer County, NY
Vacancy
5.50%
Lease Rate
$19.80 /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%
$1,717,900
Cap Rate 7%
$1,227,071
Cap Rate 9%
$954,389
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.07M – $1.43M
NOI $85,895 @ 7.0% cap · market cap 8.59%
Second Best
Apartment 5plus
$1.14M
$995.0K – $1.33M
NOI $79,602 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,758 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 12123, NY
5,096
Population
2,346
Households
2.2
Avg Household Size
44
Median Age
39%
College-Educated
96%
High-School Grad
31.8 sq mi
ZIP Area
160
Density / Sq Mi
$104,438
Median Household Income
$54,646
Median Earnings
$959
Median Rent
$275,000
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Village-approved plans provide for two additional apartments in the garage, subject to the applicable approvals.
Where is this duplex located?
The property is located at 14 Chatham Street Nassau, NY.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Eight rented apartments across four buildings; 9+ cap rate; One‑acre parcel with 6,558 square feet of property size
