Retail/Flex
For Sale
Contact for pricing
1717-1721 State Street, Schenectady, NY 12304
Standalone retail/flex building on three parcels, offering adaptable space for a range of small business uses.
Property Size8,425 SF
Lot Size1.03 Acres
Price / SF$142.43
Days on Market79
Property Features for 1717-1721 State Street
General Information
Standard status
Active
Size
8,425 SF
Total Parking Spaces
25
Lot size
1.03 Acres
Property subtype
Retail, Industrial
Zoning
C-5: Business
Building Details
Year Built
1984
Units
1
Listing Agency:
CBRE - Albany
(518) 452-2700
Listed By:
Craig Darby · License #NY 10401201614
Source:
Crexi
Added: Jun 2
Changed: Aug 14
Last Checked: Aug 19 at 6:40AM
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.
This offering is an 8,425 SF retail/flex building presented for sale on three tax parcels totaling approximately 1.03 acres. The property is configured as a combined retail and flexible-use structure, supporting both customer-facing operations and more adaptable day-to-day needs.
The asset is located at 1721 State Street in Schenectady, New York. Being on multiple tax parcels may be helpful for owners evaluating operational flexibility or future property planning.
For tenants or owner-operators seeking a single building with retail orientation and flex-style usability, this property provides a straightforward platform. It may also appeal to buyers looking to acquire a compact, multi-parcel commercial asset suitable for retail services and other flexible business activity, subject to applicable approvals and use requirements.
The asset is located at 1721 State Street in Schenectady, New York. Being on multiple tax parcels may be helpful for owners evaluating operational flexibility or future property planning.
For tenants or owner-operators seeking a single building with retail orientation and flex-style usability, this property provides a straightforward platform. It may also appeal to buyers looking to acquire a compact, multi-parcel commercial asset suitable for retail services and other flexible business activity, subject to applicable approvals and use requirements.
Key Highlights
- Standalone retail/flex building totaling 8,425 SF
- Located in Schenectady, NY
- Sits on three tax parcels with 1.03 acres total
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
Industrial
$744.4K
$651.3K – $868.5K
NOI $52,107 @ 7.0% cap · market cap 4.34%
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Standalone retail/flex building on three parcels, offering adaptable space for a range of small business uses.
Where is this retail space 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: Standalone retail/flex building totaling 8,425 SF; Located in Schenectady, NY; Sits on three tax parcels with 1.03 acres total
