Turn-Key Live-Work Office
For Sale
$269,000
153 Barrett Street, Schenectady, NY 12305
COMMERCIAL - Other - Schenectady, NY
Property Size1,323 SF
Lot Size0.04 Acres
Price / SF$203.33
Days on Market163
Property Features for 153 Barrett Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
On Street
Patio and Porch features
Deck, Porch
Interior features
Built-in Features
Basement
Full, Exterior Entry, Interior Entry
Lot features
Road Frontage, Zero Lot Line
Elementary school
Yates
High school
Schenectady
Elementary school district
Schenectady
Middle school district
Schenectady
High school district
Schenectady
Directions
State Street to Barret Street, Building is on your right. You may park in the rear of the building.
Standard status
Active
APN
421500 39.80-1-35
Size
1,323 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
5316
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1911
Floors in Building
2
Flooring type
Laminate
Building materials
Brick
Roof type
Flat, Rubber
Architectural style
Other
Listing Agency:
Armida Rose Realty Group
(518) 374-2228
Listed By:
Anthony Durante · License #10401327706
(518) 878-8261
Added: Feb 24
Changed: Aug 4
Last Checked: Aug 6 at 9:06PM
MLS# 202612454
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 beautifully updated Victorian building is configured as one space. The first floor offers office space, while the second floor is a one-bedroom apartment. The property is described as completely turn-key and ready for immediate use.
Public remarks indicate the building is about a half block from State Street, placing it within walking distance of downtown restaurants, Proctors, City Hall, and Union College. The zoning is listed as Mixed.
The listing also notes that 162 Lafayette St. is being sold with this property. Please confirm the full package details with the listing broker.
Public remarks indicate the building is about a half block from State Street, placing it within walking distance of downtown restaurants, Proctors, City Hall, and Union College. The zoning is listed as Mixed.
The listing also notes that 162 Lafayette St. is being sold with this property. Please confirm the full package details with the listing broker.
Key Highlights
- Turnkey mixed‑use property: commercial space and residential apartment in one unit.
- Prime location: just half a block from State Street's restaurants, Proctors, City Hall, and Union College.
- Updated Victorian building with brick construction.
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
$22,292
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
8.29%
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%
$445,840
$445.8K
Cap Rate 7%
$318,457
$318.5K
Cap Rate 9%
$247,689
$247.7K
Market Conditions
NOI Build-Up for 1,323 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
$34.9K $26.40/SF
− Vacancy
−$5.2K −$3.93/SF
EGI
$29.7K $22.47/SF
− OpEx
−$7.4K −$5.62/SF
NOI
$22.3K $16.85/SF
Area
Schenectady County, NY
Vacancy
14.90%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$445,840
Cap Rate 7%
$318,457
Cap Rate 9%
$247,689
Alternative Uses
Best Use
Office B
$318.5K
$278.7K – $371.5K
NOI $22,292 @ 7.0% cap · market cap 8.29%
Second Best
Mixed Use
$260.8K
$228.2K – $304.3K
NOI $18,257 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$396.0K
$346.5K – $462.0K
NOI $27,719 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
2,144
Businesses Nearby
Explore this area
Business Placement
Demographics for 12305, NY
6,085
Population
4,103
Households
1.5
Avg Household Size
37
Median Age
34%
College-Educated
88%
High-School Grad
1.5 sq mi
ZIP Area
4,057
Density / Sq Mi
$50,308
Median Household Income
$34,228
Median Earnings
$1,067
Median Rent
$162,500
Median Home Value
Market
Vacancy Rate% for Office 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?
Live-work space - First-floor office space with turn-key updates, plus a second-floor one-bedroom apartment in a single unit.
Where is this live-work space located?
The property is located at 153 Barrett Street Schenectady, NY.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Turnkey mixed‑use property: commercial space and residential apartment in one unit.; Prime location: just half a block from State Street's restaurants, Proctors, City Hall, and Union College.; Updated Victorian building with brick construction.
