Two-Story Mixed-Use Office
For Sale
$225,000
162 Lafayette Street, Schenectady, NY 12305
COMMERCIAL - Other - Schenectady, NY
Property Size1,677 SF
Lot Size0.02 Acres
Price / SF$134.17
Days on Market168
Property Features for 162 Lafayette Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Mixed
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking
4
Patio and Porch features
Deck, Porch
Interior features
High Speed Internet, Paddle Fan, Chair Rail
Basement
Unfinished
Lot features
Road Frontage
High school
Schenectady
Elementary school district
Schenectady
Middle school district
Schenectady
High school district
Schenectady
Directions
State Street to Lafayette St., building is on the left.
Standard status
Active
APN
421500 39.80-1-5
Size
1,677 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
6035
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating), Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Flooring type
Carpet, Linoleum, Hardwood
Building materials
Brick
Roof type
Rubber, Flat
Architectural style
Other
Listing Agency:
Armida Rose Realty Group
(518) 374-2228
Listed By:
Anthony Durante · License #10401327706
(518) 878-8261
Added: Feb 25
Changed: Aug 4
Last Checked: Aug 12 at 6:06PM
MLS# 202612502
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 two-story commercial building is available for sale with two separately metered spaces. The first floor is set up as a hair salon, and the second floor is an office with a kitchenette and a rear deck. Both units use forced hot air heat with natural gas, and each space has its own gas and electric meters.
Street parking is available out front. The offering also includes 151 Barrett Street, which provides rear-of-building access and off-street parking, and the property is being sold as a package with 153 Barrett Street. The listed price reflects the 151 Barrett Street component within the package pricing.
Street parking is available out front. The offering also includes 151 Barrett Street, which provides rear-of-building access and off-street parking, and the property is being sold as a package with 153 Barrett Street. The listed price reflects the 151 Barrett Street component within the package pricing.
Key Highlights
- Two‑story brick office building (hair salon on first floor; office on second floor)
- Second‑floor office includes kitchenette and rear deck overlooking the city
- Both units have forced hot air with natural gas, with separate gas and electric meters
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
$20,243
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
9.00%
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%
$404,860
$404.9K
Cap Rate 7%
$289,186
$289.2K
Cap Rate 9%
$224,922
$224.9K
Market Conditions
NOI Build-Up for 1,677 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
$30.2K $18.00/SF
− Vacancy
−$1.3K −$0.76/SF
EGI
$28.9K $17.24/SF
− OpEx
−$8.7K −$5.17/SF
NOI
$20.2K $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 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%
$404,860
Cap Rate 7%
$289,186
Cap Rate 9%
$224,922
Alternative Uses
Best Use
Office B
$403.7K
$353.2K – $471.0K
NOI $28,257 @ 7.0% cap · market cap 12.56%
Second Best
Retail
$289.2K
$253.0K – $337.4K
NOI $20,243 @ 7.0% cap · market cap 9.00%
Theoretical Best
Office A
$502.0K
$439.2K – $585.6K
NOI $35,137 @ 7.0% cap · market cap 15.62%
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
2,205
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?
Office units - Two-story building with a hair salon ground floor and separate second-floor office suite with kitchenette and rear deck.
Where is this office units located?
The property is located at 162 Lafayette Street Schenectady, NY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑story brick office building (hair salon on first floor; office on second floor); Second‑floor office includes kitchenette and rear deck overlooking the city; Both units have forced hot air with natural gas, with separate gas and electric meters
