Automotive Service Garage with
For Sale
$199,000
178 Columbia Turnpike, Rensselaer, NY 12144
Move-in-ready garage with remodeled office and a two-bay service area, plus storage and parking for up to six vehicles.
Property Size1,480 SF
Lot Size0.15 Acres
Price / SF$134.46
Days on Market72
Property Features for 178 Columbia Turnpike
General Information
Standard status
Active
Size
1,480 SF
Total Parking Spaces
6
Lot size
0.15 Acres
Property subtype
Commercial
Site & Location
Traffic Count
14,502 vehicles/day
Road Access
Yes
Utilities to Site
Yes
Additional Details
Drive-In Doors
2
Service Bays
2
Building Details
Year Built
1960
Construction
block and vinyl siding
Listing Agency:
Howard Hanna Capital Inc
Listed By:
Joseph P Cardinale
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jul 5
Changed: Sep 13
Last Checked: Sep 14 at 8:28AM
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
This move-in-ready automotive and service property includes 1,480± square feet of total space on a 0.15-acre commercially zoned lot. The building features 758± square feet of fully remodeled office space, a 573± square foot two-bay service garage, and a 331± square foot storage area. Constructed with block and vinyl siding, it offers two grade-level overhead doors, electric heat, and public water and sewer services. Parking is available for up to six vehicles.
The property sits on one of the Capital Region’s busiest commercial corridors with approximately 14,502 vehicles passing daily (AADT), providing strong road frontage and visibility.
With its flexible garage-and-office configuration, the facility is positioned for a range of automotive, contractor, and service-oriented operations, including uses such as auto repair, used vehicle sales, detailing, tires/fleet service, and contractor headquarters for trades like electrical, plumbing, HVAC, landscaping, or general contracting.
The property sits on one of the Capital Region’s busiest commercial corridors with approximately 14,502 vehicles passing daily (AADT), providing strong road frontage and visibility.
With its flexible garage-and-office configuration, the facility is positioned for a range of automotive, contractor, and service-oriented operations, including uses such as auto repair, used vehicle sales, detailing, tires/fleet service, and contractor headquarters for trades like electrical, plumbing, HVAC, landscaping, or general contracting.
Key Highlights
- Commercial property built in 1960 with 1,480± SF total building area on a 0.15‑acre commercially zoned lot
- Remodeled office space: 758± SF, plus 573± SF two‑bay service garage and 331± SF storage area
- Two grade‑level overhead doors for service access
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
$15,642
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
7.86%
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%
$312,840
$312.8K
Cap Rate 7%
$223,457
$223.5K
Cap Rate 9%
$173,800
$173.8K
Market Conditions
NOI Build-Up for 1,480 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
$24.0K $16.20/SF
− Vacancy
−$1.6K −$1.10/SF
EGI
$22.3K $15.10/SF
− OpEx
−$6.7K −$4.53/SF
NOI
$15.6K $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 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%
$312,840
Cap Rate 7%
$223,457
Cap Rate 9%
$173,800
Alternative Uses
Best Use
Retail
$268.8K
$235.2K – $313.6K
NOI $18,818 @ 7.0% cap · market cap 9.46%
Second Best
Industrial
$223.5K
$195.5K – $260.7K
NOI $15,642 @ 7.0% cap · market cap 7.86%
Theoretical Best
Office A
$370.0K
$323.7K – $431.6K
NOI $25,898 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Drive-in doors
2
Service bays
14,502 VPD
Traffic count
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
2k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
2,052 visits/mo
0.5 miles
Demographics for 12144, NY
21,277
Population
10,474
Households
2
Avg Household Size
40
Median Age
38%
College-Educated
93%
High-School Grad
18.3 sq mi
ZIP Area
1,163
Density / Sq Mi
$88,357
Median Household Income
$51,893
Median Earnings
$1,379
Median Rent
$235,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
- Jiffy Lube — 334 Columbia Turnpike, Rensselaer, NY 12144
- Nopper's Collision Repairs Inc. — 323 Columbia Turnpike, Rensselaer, NY 12144
- Greenbush Auto — 281 Columbia Turnpike, Rensselaer, NY 12144
- Feldman's Service Center — 300 Columbia Turnpike Suite 2, Rensselaer, NY 12144
- Frank Auto Service — Rensselaer, NY 12144
Frequently Asked Questions
What type of property is this?
Auto shop - Move-in-ready garage with remodeled office and a two-bay service area, plus storage and parking for up to six vehicles.
Where is this auto shop located?
The property is located at 178 Columbia Turnpike Rensselaer, NY.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Commercial property built in 1960 with 1,480± SF total building area on a 0.15‑acre commercially zoned lot; Remodeled office space: 758± SF, plus 573± SF two‑bay service garage and 331± SF storage area; Two grade‑level overhead doors for service access
