Corner Development
For Sale
$2,150,000
1874 Altamont Avenue, Schenectady, NY 12303
Signalized corner lot with direct Route 9 access and ample parking for retail, office, or service development.
Property Size7,164 SF
Price / SF$300.11
Days on Market181
Property Features for 1874 Altamont Avenue
General Information
Standard status
Active
Size
7,164 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Year Built
1975
Listing Agency:
KW Platform
Listed By:
Benjamin R Romer
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Feb 11
Changed: Aug 10
Last Checked: Aug 10 at 4:15AM
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 KW Platform
Investment Insights
Based on property information with market context.
This offering presents a highly flexible corner development site at a signalized intersection in Rotterdam, NY. The property comprises an approximately 44,000 SF corner lot designed to support a range of commercial uses, with room for on-site parking, signage, and an efficient site layout.
The site provides immediate access to Route 9, supporting convenient travel for customers and employees. The surrounding area includes established national retailers and dense residential neighborhoods, which can support tenant concepts across retail, office, and service categories.
For prospective buyers and developers, the property’s corner positioning and direct roadway access make it suitable for retail, office, or service-oriented uses. The seller’s stated intended use mix includes medical, wellness, fitness, childcare, personal care, and fast-casual concepts, giving users flexibility to match the site to a variety of tenant requirements. This is a straightforward acquisition for an operator seeking a visible, drive-to commercial location along a proven corridor.
The site provides immediate access to Route 9, supporting convenient travel for customers and employees. The surrounding area includes established national retailers and dense residential neighborhoods, which can support tenant concepts across retail, office, and service categories.
For prospective buyers and developers, the property’s corner positioning and direct roadway access make it suitable for retail, office, or service-oriented uses. The seller’s stated intended use mix includes medical, wellness, fitness, childcare, personal care, and fast-casual concepts, giving users flexibility to match the site to a variety of tenant requirements. This is a straightforward acquisition for an operator seeking a visible, drive-to commercial location along a proven corridor.
Key Highlights
- 144,000 SF corner lot at a signalized intersection in Rotterdam, NY
- Direct access to Route 9
- Flexible development site for retail, office, or service‑oriented users
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
$120,712
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
5.61%
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%
$2,414,240
$2.4M
Cap Rate 7%
$1,724,457
$1.7M
Cap Rate 9%
$1,341,244
$1.3M
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
$189.1K $26.40/SF
− Vacancy
−$28.2K −$3.93/SF
EGI
$160.9K $22.47/SF
− OpEx
−$40.2K −$5.62/SF
NOI
$120.7K $16.85/SF
Area
Schenectady County, NY
Vacancy
14.90%
Lease Rate
$26.40 /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%
$2,414,240
Cap Rate 7%
$1,724,457
Cap Rate 9%
$1,341,244
Alternative Uses
Best Use
Office B
$1.72M
$1.51M – $2.01M
NOI $120,712 @ 7.0% cap · market cap 5.61%
Second Best
Retail
$1.24M
$1.08M – $1.44M
NOI $86,475 @ 7.0% cap · market cap 4.02%
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
Under-served
Demand for This Use
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 Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Signalized corner lot with direct Route 9 access and ample parking for retail, office, or service development.
Where is this storefront property 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: 144,000 SF corner lot at a signalized intersection in Rotterdam, NY; Direct access to Route 9; Flexible development site for retail, office, or service‑oriented users
