Corner Mixed-Use
For Sale
$349,000
2040 Broadway, Schenectady, NY 12306
Ground-level commercial space is paired with two apartments above.
Property Size2,840 SF
Price / SF$122.89
Days on Market106
Property Features for 2040 Broadway
General Information
Standard status
Active
Size
2,840 SF
Property subtype
Triplex
Site & Location
Corner Location
Yes
Mixed-Use Components
retail, residential
Amenities
rear parking
Building Details
Year Built
1981
Buildings
1
Stories
2
Construction
brick
Tenancy
Multi
Listing Agency:
Buy N Sell Realty Inc
(518) 982-5611
Listed By:
Subhash D Sukhram · License #10311207543
(518) 322-9877
Source:
Simplywoodardrealestate
Added: Jul 20
Changed: Nov 1
Last Checked: Nov 1 at 3:03PM
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 Buy N Sell Realty Inc
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Investment Insights
Based on property information with market context.
This 2,840-square-foot brick property combines ground-floor retail space with two apartments on the second floor. Built in 1981, the building also has parking at the rear and occupies a corner site.
Key Highlights
- 2,840‑square‑foot mixed‑use building
- Ground‑floor retail with two second‑floor apartments
- Brick construction; built in 1981
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,010
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$580,200
$580.2K
Cap Rate 7%
$414,429
$414.4K
Cap Rate 9%
$322,333
$322.3K
Market Conditions
NOI Build-Up for 2,840 SF
Gross rent
$56.2K $19.80/SF
− Vacancy
−$3.5K −$1.23/SF
EGI
$52.7K $18.57/SF
− OpEx
−$23.7K −$8.36/SF
NOI
$29.0K $10.21/SF
Area
Schenectady County, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$580,200
Cap Rate 7%
$414,429
Cap Rate 9%
$322,333
Alternative Uses
Best Use
Mixed Use
$559.9K
$489.9K – $653.2K
NOI $39,192 @ 7.0% cap · market cap 11.23%
Second Best
Retail
$489.7K
$428.5K – $571.4K
NOI $34,281 @ 7.0% cap · market cap 9.82%
Theoretical Best
Office A
$850.1K
$743.8K – $991.7K
NOI $59,504 @ 7.0% cap · market cap 17.05%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
Explore this area
Business Placement
Demographics for 12306, NY
26,935
Population
12,481
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
94%
High-School Grad
43.9 sq mi
ZIP Area
614
Density / Sq Mi
$80,583
Median Household Income
$46,702
Median Earnings
$1,221
Median Rent
$212,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-level commercial space is paired with two apartments above.
Where is this mixed-use property located?
The property is located at 2040 Broadway Schenectady, NY.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 2,840‑square‑foot mixed‑use building; Ground‑floor retail with two second‑floor apartments; Brick construction; built in 1981
