Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1480 State St, Unit Schenectady Schenectady, NY 12304

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1.00 SF/Yr ($1,809 /Mo)

    Mixed-use retail plaza with apartments, warehouse, garages, and parking.

    Property size:
    21,714 SF
    Lot size:
    1.10 Acres

    Property Features for 1480 State St

    General Information

    Standard status
    Active
    Size
    21,714 SF
    Lot size
    1.10 Acres

    Building Details

    Year built
    1981

    We can help!

    Listing Contact
    Benjamin R Romer
    Benjamin R Romer
    Source: Corcoran

    Listing Agency: KW PLATFORM Listing Agent: Benjamin R Romer

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Mixed-Use Retail Plaza For Rent

    This mixed-use retail plaza is available for rent in a high-traffic location near Downtown Schenectady with major highway access. The property features 4 retail units, 2 residential apartments, a 3,000 sq ft warehouse, and 2 garage bays with office space. There are 65 off-street parking spots available. Recent upgrades include electric, plumbing, HVAC, and an 8-year-old roof, making this a turnkey investment. Strong rental income potential exists with a mix of commercial and residential tenants in place.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Beauty Works | Beauty ... Clothing & Fashion Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Schenectady
    County
    Schenectady
    State
    New York
    Longitude
    -73.9177318
    Latitude
    42.7919445

    Nearby Similar for Lease

    • New
      $1,850 /Mo
      7,980 SF

      Downtown Commercial Space Available

      Prime location, adaptable space for retail, office, or salon.
      140 Clinton St, Schenectady, NY 12305
      View Details
    • New
      $975 /Mo
      5,625 SF

      Office Space For Lease

      Office space available for lease in Schenectady, NY.
      706 Kings Rd, Schenectady, NY 12304
      View Details
    • $1,500 /Mo
      5,388 SF

      Historic Schenectady Building with Retail

      Unique commercial property in historic Schenectady near SUNY.
      101 State St, Schenectady, NY 12305
      View Details
    • $975 /Mo

      Office Suite for Lease

      Office suite for lease in Schenectady, NY.
      706 Kings Rd, Schenectady, NY 12304
      View Details
    • $3,200 /Mo
      2,481 SF

      Renovated Commercial Space Near Saratoga

      Turn-key, renovated commercial space on a large lot.
      135 Freemans Bridge Rd, Glenville, NY 12302
      View Details
    • $19 SF/Yr
      3,628 SF

      Retail Space in Schenectady Plaza

      Renovated retail space in established plaza with parking.
      1608 Union St, Schenectady, NY 12309
      View Details
    • $900 /Mo
      10,595 SF

      Retail Space with Convenient Parking

      Bite-sized retail space with parking in front, ready to occupy.
      165 Freemans Bridge Rd, Scotia, NY 12302
      View Details
    • $900 /Mo
      10,595 SF

      Retail Space in Scotia, NY

      Small retail space with parking in convenient Scotia location.
      165 Freemans Bridge Rd, Scotia, NY 12302
      View Details
    • $995 /Mo
      1,677 SF

      Lafayette Street Office Space Available

      Second-floor office space with excellent visibility and downtown views.
      162 Lafayette St, Schenectady, NY 12305
      View Details
    • $16 SF/Yr

      Prime Retail Space in Schenectady

      Highly visible retail space in downtown Schenectady with apartments above.
      240 State St, Schenectady, NY 12305
      View Details
    • $15 SF/Yr
      4,655 SF

      Downtown Schenectady Retail/Office Space

      Charming, well-maintained space in the heart of downtown Schenectady.
      213 State St, Schenectady, NY 12305
      View Details
    • $1,500 /Mo
      3,068 SF

      Highly Visible Commercial Space

      Retail or office space in a high-traffic location.
      1726 State St, Schenectady, NY 12304
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use retail plaza with apartments, warehouse, garages, and parking.
    Where is this mixed-use property located?
    The property is located at 1480 State St, Unit Schenectady Schenectady, NY.
    What is the lease rate?
    The lease rate is $1.00 SF/Yr.
    What are key features of this property?
    This property features: - High-traffic location near Downtown Schenectady and major highway access.; - Mixed-use property with 4 retail units, 2 residential apartments, warehouse, and garage bays.; - 65 off-street parking spots.
    (518) 368-3932
    Request Owner's contact information
    1480 State St, Unit Schenectady Schenectady, NY 12304
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1480 State St, Unit Schenectady
    Schenectady, NY 12304
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1480 State St, Unit Schenectady Schenectady, NY 12304
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Benjamin R Romer
    Benjamin R Romer
    Real Estate License ID: 10401317745
    (518) 368-3932 (518) 724-5800
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!