Renovated Mixed-Use
For Sale
Contact for pricing
192 Erie Blvd, Schenectady, NY 12305
Seven-story property combining commercial suites, flex space, apartments, storage, loading docks, and off-street parking.
Property Size66,167 SF
Price / SF$119.39
Days on Market34
Property Features for 192 Erie Blvd
General Information
Standard status
Active
Size
66,167 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Stories
7
Listing Agency:
NAI Platform
(518) 428-1164
Listed By:
William "Felton" McLaughlin
(518) 428-1164
Source:
Moodyscre
Added: Jul 28
Changed: Aug 29
Last Checked: Aug 29 at 9:21PM
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 NAI Platform
Investment Insights
Based on property information with market context.
This recently renovated, seven-story mixed-use building contains commercial office and flex space on floors 1 through 3, with apartments occupying floors 4 through 7. The property totals 66,167 square feet, and office suites range from 1,200 SF to 9,630 SF. Additional storage space of up to 2,000 SF is available with loading docks and off-street parking.
Positioned at 192 Erie Blvd in Schenectady, the building sits on a primary route toward downtown and offers convenient highway access. Restaurants, banking, shopping, and entertainment venues are within walking distance for occupants and visitors. The property is locally owned and managed.
Positioned at 192 Erie Blvd in Schenectady, the building sits on a primary route toward downtown and offers convenient highway access. Restaurants, banking, shopping, and entertainment venues are within walking distance for occupants and visitors. The property is locally owned and managed.
Key Highlights
- Recently renovated seven‑story mixed‑use building totaling 66,167 square feet
- Floors 1‑3 offer commercial office and flex space
- Floors 4‑7 have been converted into apartments
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
$409,226
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
5.18%
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%
$8,184,520
$8.2M
Cap Rate 7%
$5,846,086
$5.8M
Cap Rate 9%
$4,546,956
$4.5M
Market Conditions
NOI Build-Up for 66,167 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
$627.3K $9.48/SF
− Vacancy
−$42.7K −$0.64/SF
EGI
$584.6K $8.84/SF
− OpEx
−$175.4K −$2.65/SF
NOI
$409.2K $6.18/SF
Area
Schenectady County, NY
Vacancy
6.80%
Lease Rate
$9.48 /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%
$8,184,520
Cap Rate 7%
$5,846,086
Cap Rate 9%
$4,546,956
Alternative Uses
Best Use
Office B
$15.93M
$13.94M – $18.58M
NOI $1,114,901 @ 7.0% cap · market cap 14.11%
Second Best
Mixed Use
$13.04M
$11.41M – $15.22M
NOI $913,105 @ 7.0% cap · market cap 11.56%
Theoretical Best
Office A
$19.80M
$17.33M – $23.11M
NOI $1,386,331 @ 7.0% cap · market cap 17.55%
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
2,014
Businesses Nearby
Explore this area
Business Placement
Demographics for 12305, NY
6,085
Population
4,103
Households
1.5
Avg Household Size
37
Median Age
34%
College-Educated
88%
High-School Grad
1.5 sq mi
ZIP Area
4,057
Density / Sq Mi
$50,308
Median Household Income
$34,228
Median Earnings
$1,067
Median Rent
$162,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Seven-story property combining commercial suites, flex space, apartments, storage, loading docks, and off-street parking.
Where is this mixed-use property located?
The property is located at 192 Erie Blvd Schenectady, NY.
What is the asking price?
The asking price for this property is $7,900,000.
What are key features of this property?
This property features: Recently renovated seven‑story mixed‑use building totaling 66,167 square feet; Floors 1‑3 offer commercial office and flex space; Floors 4‑7 have been converted into apartments
