Retail Space with Reserved
For Sale
Contact for pricing
1608 Union Street, Schenectady, NY 12309
C-2 mixed-use commercial zoning and a finished lower level are part of the space’s configuration.
Property Size3,628 SF
Price / SF$0.83
Days on Market68
Property Features for 1608 Union Street
General Information
Standard status
Active
Size
3,628 SF
Total Parking Spaces
3
Property subtype
Mixed Use
Zoning
C-2 Mixed Use Commercial
Amenities
signage
front display
humidity room
security system
Building Details
Year Built
1987
Listing Agency:
KW Platform
(518) 724-5800
Listed By:
Kristian Khachadourian · License #10401303476
(518) 937-4124
Source:
Simplywoodardrealestate
Added: Aug 27
Changed: Nov 1
Last Checked: Nov 1 at 3:06PM
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 KW Platform
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Investment Insights
Based on property information with market context.
This retail space in an established shopping plaza has a front display area, signage, and three reserved parking spots. The space was renovated and outfitted for retail use, with a humidity room and security system. A finished basement provides 1,100 square feet available for additional rent. The property was built in 1987 and is zoned C-2 Mixed Use Commercial.
Key Highlights
- 3,628 SF retail space in an established shopping plaza
- Three reserved parking spots
- Frontage, signage, and a front display area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,793
Suggested Prices Based on Cap Rates
Cap Rate 5%
$875,860
$875.9K
Cap Rate 7%
$625,614
$625.6K
Cap Rate 9%
$486,589
$486.6K
Market Conditions
NOI Build-Up for 3,628 SF
Gross rent
$65.3K $18.00/SF
− Vacancy
−$2.7K −$0.76/SF
EGI
$62.6K $17.24/SF
− OpEx
−$18.8K −$5.17/SF
NOI
$43.8K $12.07/SF
Area
Schenectady 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 Rate 5%
$875,860
Cap Rate 7%
$625,614
Cap Rate 9%
$486,589
Alternative Uses
Best Use
Retail
$625.6K
$547.4K – $729.9K
NOI $43,793 @ 7.0% cap · market cap 1,459.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$950.2K – $1.27M
NOI $76,014 @ 7.0% cap · market cap 2,533.80%
Zoning and permitted uses should be independently verified with authorities.
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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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - C-2 mixed-use commercial zoning and a finished lower level are part of the space’s configuration.
Where is this retail space located?
The property is located at 1608 Union Street Schenectady, NY.
What are key features of this property?
This property features: 3,628 SF retail space in an established shopping plaza; Three reserved parking spots; Frontage, signage, and a front display area
