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Building Details

Building Size 9,142 SF

Buildings 1

Tenancy Multi

Listing Agency: Pyramidbrokerage

Listed By: Pyramid Brokerage Albany Show Phone

Source: Pyramidbrokerage

Added: May 22 Changed: Oct 1 Last Checked: Oct 14 at 7:44PM

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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.

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 / Yr

$116,237

Cap Rate

5.28%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,324,740 $2.3M

Cap Rate 7%

$1,660,529 $1.7M

Cap Rate 9%

$1,291,522 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,142 SF

Gross rent

$173.3K $18.96/SF

− Vacancy

−$7.3K −$0.80/SF

EGI

$166.1K $18.16/SF

− OpEx

−$49.8K −$5.45/SF

NOI

$116.2K $12.71/SF

Area

Rensselaer County, NY

Vacancy

4.20%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,324,740

Cap Rate 7%

$1,660,529

Cap Rate 9%

$1,291,522

Alternative Uses

Best Use

Retail

$1.66M

$1.45M – $1.94M (±1% cap)

NOI $116,237 @ 7.0% cap · market cap 5.28%

Second Best

Apartment 5plus

$1.59M

$1.39M – $1.85M (±1% cap)

NOI $110,967 @ 7.0% cap · market cap 5.04%

Theoretical Best

Office A

$2.29M

$2.00M – $2.67M (±1% cap)

NOI $159,975 @ 7.0% cap · market cap 7.27%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

The Laundry Factory (Bike/Boat/Book/etc) Store Forever Royal Hair ... Hair Salon Wash N Go ... (Bike/Boat/Book/etc) Store MJM World Imports Big Box & Wholesale Store

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Locksmith Carpet & Flooring Store Veterinary Clinic Butcher Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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