Updated Victorian Mixed-Use
For Sale
$269,000
153 Barrett Street, Schenectady, NY 12305
Two-level layout pairs first-floor office space with a one-bedroom apartment above.
Property Size1,323 SF
Price / SF$203.33
Days on Market37
Property Features for 153 Barrett Street
General Information
Standard status
Active
Size
1,323 SF
Zoning
Mixed
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$5,316
Building Details
Year Built
1911
Buildings
1
Stories
2
Construction
Victorian
Tenancy
Single
Listing Agency:
Armida Rose Realty Group
(518) 878-8261
Listed By:
Anthony Durante · License #10401327706
(518) 878-8261
Source:
Capmarkrealty
Added: Jul 24
Changed: Aug 28
Last Checked: Aug 28 at 7:38AM
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 Armida Rose Realty Group
Investment Insights
Based on property information with market context.
Built in 1911, this updated Victorian building combines commercial and residential space within a single unit. The first floor is configured for office use, while the second floor contains a one-bedroom apartment, creating a live-work arrangement within the same structure.
The property is located at 153 Barrett Street in Schenectady, near State Street and downtown destinations including restaurants, Proctors, City Hall, and Union College. Its mixed-use layout supports an owner-user configuration or separate use of the office and residential areas, subject to applicable requirements.
The property is located at 153 Barrett Street in Schenectady, near State Street and downtown destinations including restaurants, Proctors, City Hall, and Union College. Its mixed-use layout supports an owner-user configuration or separate use of the office and residential areas, subject to applicable requirements.
Key Highlights
- Updated Victorian building constructed in 1911
- First‑floor office configuration
- Second‑floor 1‑bedroom apartment
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
Single-tenant
Tenancy
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level layout pairs first-floor office space with a one-bedroom apartment above.
Where is this mixed-use property 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: Updated Victorian building constructed in 1911; First‑floor office configuration; Second‑floor 1‑bedroom apartment
