Corner Commercial Development
For Sale
$2,150,000
1874 Altamont Avenue, Schenectady, NY 12303
COMMERCIAL - Schenectady, NY
Property Size7,164 SF
Lot Size1.01 Acres
Price / SF$300.11
Days on Market149
Property Features for 1874 Altamont Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
40
Directions
From the nearby well-known McDonald's at 1637 Altamont Ave, head east on Altamont Avenue toward Curry Road, and continue straight for about a block. 1874 Altamont Ave will be on your right just past the intersection near the Market 32 shopping area (close to 1879 Altamont Ave) in Rotterdam/Schenectady, NY 12303.
Standard status
Active
APN
422800 59.9-7-15.11
Size
7,164 SF
Lot size
1.01 Acres
Taxes and HOA fees
Tax Annual Amount
17731
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1975
Floors in Building
1
Building materials
Metal Siding
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Benjamin R Romer · License #10401317745
(518) 368-3932
Added: Mar 20
Changed: Aug 4
Last Checked: Aug 15 at 11:06PM
MLS# 202613733
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial land offering includes an approximately 44,000-square-foot corner lot, or 1.01 acres, with a 7,164-square-foot improvement. The property dates to 1975 and includes metal siding, forced-air heating, and central air. Public water and public sewer serve the site, which is zoned Commercial.
Located at 1874 Altamont Avenue in Schenectady, the property occupies a signalized intersection in Rotterdam with immediate access to Route 9. Established national retailers and dense residential neighborhoods surround the site. The corner configuration provides room for parking, signage, and site planning, with the source information identifying potential suitability for retail, office, service, medical, wellness, fitness, childcare, personal care, and fast-casual uses.
Located at 1874 Altamont Avenue in Schenectady, the property occupies a signalized intersection in Rotterdam with immediate access to Route 9. Established national retailers and dense residential neighborhoods surround the site. The corner configuration provides room for parking, signage, and site planning, with the source information identifying potential suitability for retail, office, service, medical, wellness, fitness, childcare, personal care, and fast-casual uses.
Key Highlights
- Approximately 44,000 SF corner lot at a signalized intersection
- 1.01‑acre commercial land site
- Immediate access to Route 9
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
$86,475
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
4.02%
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%
$1,729,500
$1.7M
Cap Rate 7%
$1,235,357
$1.2M
Cap Rate 9%
$960,833
$960.8K
Market Conditions
NOI Build-Up for 7,164 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
$129.0K $18.00/SF
− Vacancy
−$5.4K −$0.76/SF
EGI
$123.5K $17.24/SF
− OpEx
−$37.1K −$5.17/SF
NOI
$86.5K $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%
$1,729,500
Cap Rate 7%
$1,235,357
Cap Rate 9%
$960,833
Alternative Uses
Best Use
Retail
$1.24M
$1.08M – $1.44M
NOI $86,475 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.14M
$1.88M – $2.50M
NOI $150,100 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Explore this area
Business Placement
Demographics for 12303, NY
30,893
Population
12,533
Households
2.5
Avg Household Size
41
Median Age
35%
College-Educated
90%
High-School Grad
15.6 sq mi
ZIP Area
1,980
Density / Sq Mi
$77,615
Median Household Income
$50,051
Median Earnings
$1,120
Median Rent
$227,500
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?
Commercial land - Commercial land at a signalized Rotterdam intersection with public utilities and access to Route 9.
Where is this commercial land located?
The property is located at 1874 Altamont Avenue Schenectady, NY.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Approximately 44,000 SF corner lot at a signalized intersection; 1.01‑acre commercial land site; Immediate access to Route 9
