Building Details

Buildings 1

Stories 7

Listing Agency: NAI Platform Show Phone

Listed By: William "Felton" McLaughlin Show Phone

Source: Moodyscre

Added: Jul 28 Changed: Oct 11 Last Checked: Oct 12 at 10:24PM

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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.

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 / Yr

$409,226

Cap Rate

5.18%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $1,114,901 @ 7.0% cap · market cap 14.11%

Second Best

Mixed Use

$13.04M

$11.41M – $15.22M (±1% cap)

NOI $913,105 @ 7.0% cap · market cap 11.56%

Theoretical Best

Office A

$19.80M

$17.33M – $23.11M (±1% cap)

NOI $1,386,331 @ 7.0% cap · market cap 17.55%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

1-800 Office Solutions Computer & Electronic Repair Spectrum Store ® Marketing & Advertising

Suggested Use

Top Pick Building Supply Dental Office Storage Facility HVAC Service Big Box & Wholesale Store Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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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