Turnkey Mixed-Use Property in
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1685 Van Vranken Avenue, Schenectady, NY 12308
Mixed-use property with commercial kitchen and residential apartment in Schenectady.
Property Size2,438 SF
Price / SF$237.49
Days on Market201
Property Features for 1685 Van Vranken Avenue
General Information
Standard status
Active
Size
2,438 SF
Property subtype
Retail
Zoning
C-2
Listing Agency:
Coldwell Banker Prime Properties Niskayuna
(518) 370-2100
Listed By:
Ebaan Bookay · License #NY
Source:
Crexi
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 8 at 6:33AM
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 Coldwell Banker Prime Properties Niskayuna
Investment Insights
Based on property information with market context.
This mixed-use property is located in Schenectady, near Union College and Rivers Casino. The first floor is currently configured as a convenience store, featuring a full commercial kitchen suitable for a deli or restaurant. The second floor contains a 3-bedroom, 1-bath apartment with long-term tenants. The property is being sold with an adjacent vacant lot, offering potential for additional development or parking. The property size is 2438 square feet.
Key Highlights
- Turnkey mixed‑use property with operating convenience store and full commercial kitchen.
- Includes adjacent vacant lot for development or parking.
- Spacious 3‑bedroom apartment with existing long‑term tenants.
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
$34,263
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
5.92%
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%
$685,260
$685.3K
Cap Rate 7%
$489,471
$489.5K
Cap Rate 9%
$380,700
$380.7K
Market Conditions
NOI Build-Up for 2,438 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
$47.7K $19.56/SF
− Vacancy
−$2.0K −$0.82/SF
EGI
$45.7K $18.74/SF
− OpEx
−$11.4K −$4.68/SF
NOI
$34.3K $14.05/SF
Area
Schenectady County, NY
Vacancy
4.20%
Lease Rate
$19.56 /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%
$685,260
Cap Rate 7%
$489,471
Cap Rate 9%
$380,700
Alternative Uses
Best Use
Specialty Retail
$489.5K
$428.3K – $571.1K
NOI $34,263 @ 7.0% cap · market cap 5.92%
Second Best
Mixed Use
$480.6K
$420.6K – $560.7K
NOI $33,644 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$729.7K
$638.5K – $851.4K
NOI $51,081 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
957
Businesses Nearby
Explore this area
Business Placement
Demographics for 12308, NY
15,285
Population
6,442
Households
2.4
Avg Household Size
31
Median Age
29%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
6,646
Density / Sq Mi
$59,789
Median Household Income
$35,966
Median Earnings
$1,159
Median Rent
$180,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with commercial kitchen and residential apartment in Schenectady.
Where is this mixed-use property located?
The property is located at 1685 Van Vranken Avenue Schenectady, NY.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: Turnkey mixed‑use property with operating convenience store and full commercial kitchen.; Includes adjacent vacant lot for development or parking.; Spacious 3‑bedroom apartment with existing long‑term tenants.
