Office Building with Lower-Level
For Sale
Contact for pricing
1598 Union Street, Schenectady, NY 12309
A flexible professional layout includes a break room and a separate lower-level entrance.
Property Size1,950 SF
Days on Market140
Property Features for 1598 Union Street
General Information
Standard status
Active
Size
1,950 SF
Total Parking Spaces
6
Property subtype
Mixed Use
Additional Details
Property Use
Office
Amenities
break room
landscaped grounds
irrigation system
signage opportunities
Building Details
Year Built
1950
Listing Agency:
Berkshire Hathaway Home Services Blake
(518) 464-0870
Listed By:
Karen Zalewski-Wildzunas · License #10301219752
(518) 858-4719
Source:
Simplywoodardrealestate
Added: Jun 16
Changed: Nov 1
Last Checked: Nov 1 at 4:01PM
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 Berkshire Hathaway Home Services Blake
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Investment Insights
Based on property information with market context.
This 1,950-square-foot office building, constructed in 1950, has an open main-level plan with a break room and finished interiors. The lower level adds private office areas and has its own entrance, creating separation between workspaces.
The property is at 1598 Union Street in Schenectady’s Upper Union Street Business District. Its corner position offers exposure, and the site includes off-street parking for 4–6 vehicles, landscaped grounds with irrigation, and signage opportunities. Establishments and neighborhood amenities surround the property.
The property is at 1598 Union Street in Schenectady’s Upper Union Street Business District. Its corner position offers exposure, and the site includes off-street parking for 4–6 vehicles, landscaped grounds with irrigation, and signage opportunities. Establishments and neighborhood amenities surround the property.
Key Highlights
- 1,950 square feet of office space
- Open main‑level plan with a break room
- Lower‑level private offices with a separate entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,857
Suggested Prices Based on Cap Rates
Cap Rate 5%
$657,140
$657.1K
Cap Rate 7%
$469,386
$469.4K
Cap Rate 9%
$365,078
$365.1K
Market Conditions
NOI Build-Up for 1,950 SF
Gross rent
$51.5K $26.40/SF
− Vacancy
−$7.7K −$3.93/SF
EGI
$43.8K $22.47/SF
− OpEx
−$11.0K −$5.62/SF
NOI
$32.9K $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 Rate 5%
$657,140
Cap Rate 7%
$469,386
Cap Rate 9%
$365,078
Alternative Uses
Best Use
Office B
$469.4K
$410.7K – $547.6K
NOI $32,857 @ 7.0% cap · market cap 3,285,700.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$583.7K
$510.7K – $680.9K
NOI $40,856 @ 7.0% cap · market cap 4,085,600.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
917
Businesses Nearby
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Business Placement
Demographics for 12309, NY
31,273
Population
13,623
Households
2.3
Avg Household Size
43
Median Age
59%
College-Educated
97%
High-School Grad
17.6 sq mi
ZIP Area
1,777
Density / Sq Mi
$119,830
Median Household Income
$68,167
Median Earnings
$1,472
Median Rent
$301,100
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - A flexible professional layout includes a break room and a separate lower-level entrance.
Where is this office building located?
The property is located at 1598 Union Street Schenectady, NY.
What are key features of this property?
This property features: 1,950 square feet of office space; Open main‑level plan with a break room; Lower‑level private offices with a separate entrance
