Automotive Service Garage and
For Sale
$199,000
178 Columbia Turnpike, East Greenbush, NY 12144
Move-in-ready garage with remodeled office space, two grade-level doors, and parking for up to six vehicles.
Property Size1,480 SF
Lot Size0.15 Acres
Price / SF$134.46
Days on Market50
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
Additional Details
Drive-In Doors
2
Service Bays
2
Taxes and HOA fees
Annual Taxes
$4,567
Amenities
Electric Heating
Building Details
Year Built
1960
Listing Agency:
HOWARD HANNA CAPITAL INC
(518) 371-4500
Listed By:
JOSEPH P CARDINALE · License #10401290174
Source:
Corcoran
Added: Jul 8
Changed: Aug 25
Last Checked: Aug 25 at 8:36AM
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 HOWARD HANNA CAPITAL INC
Investment Insights
Based on property information with market context.
This property at 178 Columbia Turnpike includes a service garage with two-bay setup plus a dedicated remodeled office area. Approximately 758± square feet of fully remodeled office space is complemented by a 573± square foot two-bay service garage and an additional 331± square foot storage area, supporting a flexible day-to-day operation. The building is constructed with block and vinyl siding and includes electric heat, along with public water and sewer.
Located on a commercially zoned 0.15-acre lot with excellent road frontage and high traffic counts, the site offers visibility along a busy commercial corridor. The property is served by convenient on-site parking for up to six vehicles and features two grade-level overhead doors for straightforward vehicle access.
The sale includes both the building and land, offering an owner-operator or business buyer a turn-key automotive or contractor-oriented facility with office space, service bays, and storage in a single location.
Located on a commercially zoned 0.15-acre lot with excellent road frontage and high traffic counts, the site offers visibility along a busy commercial corridor. The property is served by convenient on-site parking for up to six vehicles and features two grade-level overhead doors for straightforward vehicle access.
The sale includes both the building and land, offering an owner-operator or business buyer a turn-key automotive or contractor-oriented facility with office space, service bays, and storage in a single location.
Key Highlights
- Commercial property on 0.15‑acre lot in East Greenbush, built in 1960, with approx. 14,502 vehicles/day (AADT).
- 1,480± SF building includes 758± SF fully remodeled office, 573± SF two‑bay service garage, and 331± SF storage area.
- Garage has two grade‑level overhead doors, supporting service‑bay access for automotive or contractor operations.
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
$18,158
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
9.12%
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%
$363,160
$363.2K
Cap Rate 7%
$259,400
$259.4K
Cap Rate 9%
$201,756
$201.8K
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
$30.7K $20.76/SF
− Vacancy
−$6.5K −$4.40/SF
EGI
$24.2K $16.36/SF
− OpEx
−$6.1K −$4.09/SF
NOI
$18.2K $12.27/SF
Area
Rensselaer County, NY
Vacancy
21.20%
Lease Rate
$20.76 /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%
$363,160
Cap Rate 7%
$259,400
Cap Rate 9%
$201,756
Alternative Uses
Best Use
Retail
$268.8K
$235.2K – $313.6K
NOI $18,818 @ 7.0% cap · market cap 9.46%
Second Best
Office B
$259.4K
$227.0K – $302.6K
NOI $18,158 @ 7.0% cap · market cap 9.12%
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
Current Use
Lease Details
2
Drive-in doors
2
Service bays
14,502 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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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 space, two grade-level doors, and parking for up to six vehicles.
Where is this auto shop located?
The property is located at 178 Columbia Turnpike East Greenbush, 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 on 0.15‑acre lot in East Greenbush, built in 1960, with approx. 14,502 vehicles/day (AADT).; 1,480± SF building includes 758± SF fully remodeled office, 573± SF two‑bay service garage, and 331± SF storage area.; Garage has two grade‑level overhead doors, supporting service‑bay access for automotive or contractor operations.
