Mixed-Use Building with
For Sale
$525,000
21 Purtell Avenue, Latham, NY 12110
Commercial Sale, Latham, NY
Property Size4,000 SF
Lot Size0.87 Acres
Price / SF$131.25
Days on Market173
Property Features for 21 Purtell Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
30
Parking features
Off Street
Accessibility
Accessible Approach with Ramp
High school
Shaker HS
Elementary school district
North Colonie (including Maplewood)
Middle school district
North Colonie (including Maplewood)
High school district
North Colonie (including Maplewood)
Directions
2 Blocks East of Latham Circle (Exit 6 I-87), Ruhtz to Purtell.Rare NCOR ZONE. Extensive permitted use potential. Commercial, office, residential, multi family. Potential to build another building or multi familyDouble lot .874Acre. Subdividable. 160' road front. 1 min to Rt 2, Rt 9, 5 min to Exit 6 or 7 I 87 and 787. Center of the capital region LOCATION! Seller is a NY licensed sales person.
Standard status
Active
APN
012689 19.19-1-27
Size
4,000 SF
Lot size
0.87 Acres
Taxes and HOA fees
Tax Annual Amount
5161
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Water source
Public
Building Details
Building materials
Metal Siding, Brick
Roof type
Asphalt
Listing Agency:
Howard Hanna Capital Inc
(518) 371-4500
Listed By:
Gary J Carpino · License #40CA0557099
(518) 368-4242
Added: Apr 16
Changed: Oct 2
Last Checked: Oct 5 at 11:06AM
MLS# 202615296
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,000-square-foot mixed-use property combines an operating business and an apartment within the existing building. The lower level provides a 6+ car garage, storage area, and three overhead doors. Construction includes metal siding and brick, with hot-water and baseboard heating, an asphalt roof, and an accessible approach with ramp. Off-street parking is available, and the property is served by public water and public sewer.
The site offers 160 feet of road frontage and sits 2 blocks from East Latham Circle. Route 2 and a bus route are within 1/2 block, while Route 9 is approximately 1 minute away. Interstate 87 Exits 6 and 7, as well as 787, are approximately 5 minutes away. The property is located at 21 Purtell Avenue in Latham, Albany County, New York.
The site offers 160 feet of road frontage and sits 2 blocks from East Latham Circle. Route 2 and a bus route are within 1/2 block, while Route 9 is approximately 1 minute away. Interstate 87 Exits 6 and 7, as well as 787, are approximately 5 minutes away. The property is located at 21 Purtell Avenue in Latham, Albany County, New York.
Key Highlights
- 4,000‑square‑foot mixed‑use property with a current business and apartment
- Lower level includes a 6+ car garage, storage, and 3 overhead doors
- 160' of road frontage at 21 Purtell Avenue, Latham, NY 12110
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
$39,600
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
7.54%
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%
$792,000
$792.0K
Cap Rate 7%
$565,714
$565.7K
Cap Rate 9%
$440,000
$440.0K
Market Conditions
NOI Build-Up for 4,000 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
$72.0K $18.00/SF
− Vacancy
−$8.6K −$2.16/SF
EGI
$63.4K $15.84/SF
− OpEx
−$23.8K −$5.94/SF
NOI
$39.6K $9.90/SF
Area
Albany County, NY
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$792,000
Cap Rate 7%
$565,714
Cap Rate 9%
$440,000
Alternative Uses
Best Use
Mixed Use
$565.7K
$495.0K – $660.0K
NOI $39,600 @ 7.0% cap · market cap 7.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,372 @ 7.0% cap · market cap 16.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Drive-in doors
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
Explore this area
Business Placement
Demographics for 12110, NY
19,682
Population
8,269
Households
2.4
Avg Household Size
44
Median Age
46%
College-Educated
93%
High-School Grad
14.3 sq mi
ZIP Area
1,376
Density / Sq Mi
$101,839
Median Household Income
$53,658
Median Earnings
$1,431
Median Rent
$306,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Existing business and apartment configuration with lower-level storage, overhead doors, and off-street parking.
Where is this mixed-use property located?
The property is located at 21 Purtell Avenue Latham, NY.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 4,000‑square‑foot mixed‑use property with a current business and apartment; Lower level includes a 6+ car garage, storage, and 3 overhead doors; 160' of road frontage at 21 Purtell Avenue, Latham, NY 12110
