Retail Showroom with
For Sale
$1,200,000
1717-1721 State Street, Schenectady, NY 12304
Large showroom includes front counter, offices, breakroom, restrooms, and a fenced yard with separate access.
Property Size8,425 SF
Price / SF$142.43
Days on Market42
Property Features for 1717-1721 State Street
General Information
Standard status
Active
Size
8,425 SF
Total Parking Spaces
25
Property subtype
Industrial
Site & Location
Traffic Count
14,178 vehicles/day
Fenced Yard
Yes
Building Details
Building Size
8,425 SF
Listing Agency:
CBRE - Albany
(518) 489-9199
Listed By:
Pyramid Brokerage Albany · License #10401201614
(518) 489-9199
Source:
Pyramidbrokerage
Added: Jul 14
Changed: Aug 24
Last Checked: Aug 23 at 11:36AM
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 CBRE - Albany
Investment Insights
Based on property information with market context.
The property is a built-out retail showroom designed with a prominent counter up front, along with private offices, a breakroom, bathrooms, and rear storage. A full basement is included for storage and maintenance, with grade level door access for convenient handling. The site also features a fenced-in yard, providing an additional controlled outdoor area.
Main parking is accessible via State Street (Route 5), which reports an AADT traffic count of 14,178 (2025). The fenced yard is accessible via Steers Avenue.
On-site parking totals 25 spaces, supporting customer access and day-to-day operations. The combination of showroom interior improvements, basement access, and an enclosed yard makes the space well-suited for retail uses that benefit from both customer-facing presentation and behind-the-scenes storage needs.
Main parking is accessible via State Street (Route 5), which reports an AADT traffic count of 14,178 (2025). The fenced yard is accessible via Steers Avenue.
On-site parking totals 25 spaces, supporting customer access and day-to-day operations. The combination of showroom interior improvements, basement access, and an enclosed yard makes the space well-suited for retail uses that benefit from both customer-facing presentation and behind-the-scenes storage needs.
Key Highlights
- Large showroom build‑out with front counter, private offices, breakroom, restrooms, and rear storage
- ±25 parking spaces with main parking lot access via State Street (Route 5)
- Excellent visibility along State Street (Route 5) with 2025 AADT traffic count of 14,178
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
$101,696
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
8.47%
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%
$2,033,920
$2.0M
Cap Rate 7%
$1,452,800
$1.5M
Cap Rate 9%
$1,129,956
$1.1M
Market Conditions
NOI Build-Up for 8,425 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
$151.7K $18.00/SF
− Vacancy
−$6.4K −$0.76/SF
EGI
$145.3K $17.24/SF
− OpEx
−$43.6K −$5.17/SF
NOI
$101.7K $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%
$2,033,920
Cap Rate 7%
$1,452,800
Cap Rate 9%
$1,129,956
Alternative Uses
Best Use
Retail
$1.45M
$1.27M – $1.69M
NOI $101,696 @ 7.0% cap · market cap 8.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,521 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
14,178 VPD
Traffic count
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12304, NY
21,513
Population
9,438
Households
2.3
Avg Household Size
40
Median Age
25%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
3,211
Density / Sq Mi
$67,688
Median Household Income
$43,824
Median Earnings
$1,049
Median Rent
$171,500
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?
Showroom - Large showroom includes front counter, offices, breakroom, restrooms, and a fenced yard with separate access.
Where is this showroom located?
The property is located at 1717-1721 State Street Schenectady, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Large showroom build‑out with front counter, private offices, breakroom, restrooms, and rear storage; ±25 parking spaces with main parking lot access via State Street (Route 5); Excellent visibility along State Street (Route 5) with 2025 AADT traffic count of 14,178
