Mixed-Use Building with Commercial
For Sale
$2,200,000
150 4th Street, Troy, NY 12180
Fourteen one-bedroom apartments and two leased storefronts combine residential and commercial uses in a downtown Troy property.
Property Size9,142 SF
Price / SF$240.65
Days on Market102
Property Features for 150 4th Street
General Information
Standard status
Active
Size
9,142 SF
Property subtype
Mixed Use
Units
Unit Mix
14 x 1BR
Multifamily Units
14
Additional Details
Public Transit
Yes
Building Details
Building Size
9,142 SF
Buildings
1
Tenancy
Multi
Listing Agency:
Pyramidbrokerage
(518) 489-9199
Listed By:
Pyramid Brokerage Albany
(518) 489-9199
Source:
Pyramidbrokerage
Added: May 22
Changed: Aug 30
Last Checked: Aug 30 at 12:52PM
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 Pyramidbrokerage
Investment Insights
Based on property information with market context.
This mixed-use property contains 14 one-bedroom apartments alongside two ground-floor commercial spaces within a 9,142-square-foot building. The storefronts are fully leased to a laundromat and hair salon, adding established commercial occupancy to the residential component.
The property is located in downtown Troy at 150 4th Street, next door to Vicina Urban Flats by Rosenblum Companies. Russell Sage College and Rensselaer Polytechnic Institute are minutes away, while a major bus line is steps from the building. Local destinations including The Ruck and Manory's are described as walkable from the property.
The property is located in downtown Troy at 150 4th Street, next door to Vicina Urban Flats by Rosenblum Companies. Russell Sage College and Rensselaer Polytechnic Institute are minutes away, while a major bus line is steps from the building. Local destinations including The Ruck and Manory's are described as walkable from the property.
Key Highlights
- 9,142‑square‑foot mixed‑use building with 16 total units
- 14 residential one‑bedroom apartments
- Two ground‑floor commercial spaces
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
$110,351
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
5.02%
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%
$2,207,020
$2.2M
Cap Rate 7%
$1,576,443
$1.6M
Cap Rate 9%
$1,226,122
$1.2M
Market Conditions
NOI Build-Up for 9,142 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
$164.6K $18.00/SF
− Vacancy
−$6.9K −$0.76/SF
EGI
$157.6K $17.24/SF
− OpEx
−$47.3K −$5.17/SF
NOI
$110.4K $12.07/SF
Area
Albany 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%
$2,207,020
Cap Rate 7%
$1,576,443
Cap Rate 9%
$1,226,122
Alternative Uses
Best Use
Retail
$1.58M
$1.38M – $1.84M
NOI $110,351 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$1.39M
$1.22M – $1.63M
NOI $97,650 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$2.85M
$2.50M – $3.33M
NOI $199,689 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,964
Businesses Nearby
Explore this area
Business Placement
Demographics for 12180, NY
55,907
Population
25,527
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
90%
High-School Grad
56.2 sq mi
ZIP Area
995
Density / Sq Mi
$73,767
Median Household Income
$41,787
Median Earnings
$1,188
Median Rent
$233,000
Median Home Value
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?
Mixed-use property - Fourteen one-bedroom apartments and two leased storefronts combine residential and commercial uses in a downtown Troy property.
Where is this mixed-use property located?
The property is located at 150 4th Street Troy, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 9,142‑square‑foot mixed‑use building with 16 total units; 14 residential one‑bedroom apartments; Two ground‑floor commercial spaces
