Listing Agency: CBRE - Albany

Listed By: Dan Simpson · License #Associate Real Estate Broker Show Phone

Source: Cbre

Added: Mar 25 Changed: Aug 15 Last Checked: Sep 2 at 1:28PM

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Investment Insights

Based on property information with market context.

Offered for sale are two buildings situated on approximately 2.08 acres. The first building is an income-producing retail space of approximately 7,534 square feet, currently occupied by two tenants: a nail salon and a dining establishment. The second building is an approximately 5,451 square foot truck and industrial repair facility. The truck repair facility includes a paint booth and five grade-level overhead doors. The facility has an approximate height of 15 feet and 440-volt power. All furniture, fixtures, and equipment (FFE) for the truck repair facility are included in the sale price, with details available upon request. There is parking for approximately 75 cars. The property is located on the south side of Main Avenue (Route 66) at the intersection of Ashcroft Street.

Key Highlights

• Income‑producing retail building with two established tenants.
• Truck/industrial repair facility with all FFE included in the sale price.
• Large ±2.08 acre site on Main Avenue (Route 66).

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$137,237

Cap Rate

7.67%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,744,740 $2.7M

Cap Rate 7%

$1,960,529 $2.0M

Cap Rate 9%

$1,524,856 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,985 SF

Gross rent

$210.4K $16.20/SF

− Vacancy

−$14.3K −$1.10/SF

EGI

$196.1K $15.10/SF

− OpEx

−$58.8K −$4.53/SF

NOI

$137.2K $10.57/SF

Area

Rensselaer County, NY

Vacancy

6.80%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,744,740

Cap Rate 7%

$1,960,529

Cap Rate 9%

$1,524,856

Alternative Uses

Best Use

Retail

$2.36M

$2.06M – $2.75M (±1% cap)

NOI $165,099 @ 7.0% cap · market cap 9.22%

Second Best

Industrial

$1.96M

$1.72M – $2.29M (±1% cap)

NOI $137,237 @ 7.0% cap · market cap 7.67%

Theoretical Best

Office A

$3.25M

$2.84M – $3.79M (±1% cap)

NOI $227,223 @ 7.0% cap · market cap 12.69%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Mulson's Garage Auto Repair Shop Labella Pizza of Wynantskill Restaurant

Suggested Use

Top Pick Hair Salon Dental Office Auto Repair Shop Parking Lot & Garage HVAC Service Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

225

Businesses Nearby

46k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 62% Shops & Services 30% Home Improvements & Furnishings 7%

McDonald's Dining

16,760 visits/mo 0.4 miles

Dunkin' Donuts Dining

8,243 visits/mo 0.4 miles

Hoffman Car Wash Shops & Services

5,846 visits/mo 0.4 miles

Family Dollar Shops & Services

5,594 visits/mo 0.5 miles

SUBWAY Dining

3,659 visits/mo 0.5 miles

Demographics for 12198, NY

7,548

Population

3,069

Households

2.5

Avg Household Size

44

Median Age

42%

College-Educated

98%

High-School Grad

13.2 sq mi

ZIP Area

572

Density / Sq Mi

$113,042

Median Household Income

$60,244

Median Earnings

$1,184

Median Rent

$282,200

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Similar Off Market Nearby

• Tony Scott Auto 2 — 395 Main Ave #7551, Wynantskill, NY 12198
• Mulson's Garage — 174 Main Ave Suite 1, Wynantskill, NY 12198

Frequently Asked Questions

What type of property is this?

Auto shop - Two buildings: retail and truck/industrial repair facility for sale.

Where is this auto shop located?

The property is located at 174 Main Avenue Wynantskill, NY.

What is the asking price?

The asking price for this property is $1,790,000.

What are key features of this property?

This property features: Income‑producing retail building with two established tenants.; Truck/industrial repair facility with all FFE included in the sale price.; Large ±2.08 acre site on Main Avenue (Route 66).