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1879 Central Ave Colonie, NY 12205

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For Sale
Contract
$659,900

Mixed-use property with income and value-add potential in Colonie.

Property size:
3,450 SF
Lot size:
0.22 Acres

Property Features for 1879 Central Ave

General Information

Standard status
Contract
Size
3,450 SF
Lot size
0.22 Acres

Building Details

Year built
1956

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Listing Contact
Jennifer Mentiply
Source: Corcoran

Listing Agency: RENOVO REAL ESTATE Listing Agent: Jennifer Mentiply

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Mixed-Use Property in Colonie

This mixed-use property is located along a high-visibility corridor in Colonie. The property includes two street-level commercial spaces occupied by long-term tenants, four one-bedroom apartments, one studio apartment, and a three-bay garage. Ample off-street parking is available. The building has been consistently rented. The total annual rents currently total $61,920, with yearly expenses around $15,000, resulting in a net operating income of approximately $46,920 and a 7.1% capitalization rate. A coin laundry with a washer and dryer is located on the premises. The roof was replaced approximately ten years ago, and the studio apartment was recently renovated. The property offers immediate cash flow with value-add upside through strategic rent optimization.
Location Intelligence

Current Use by Public Records

Shear Perfection Hair Salon

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Colonie
County
Albany
State
New York
Longitude
-73.8514001
Latitude
42.7341794

FAQs

What type of property is this?
Mixed-use property - Mixed-use property with income and value-add potential in Colonie.
Where is this mixed-use property located?
The property is located at 1879 Central Ave Colonie, NY.
What is the asking price?
The asking price for this property is $659,900.
What are key features of this property?
This property features: - Immediate cash flow with an attractive 7.1% Cap Rate; - Value-add upside through strategic rent optimization; - Mixed-use property featuring two commercial spaces, four one-bedroom apartments, and one studio apartment
More about this property
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