7-Unit Apartment
2209 16th Street, Troy, NY 12180
For Sale
New
$675,000
Commercial zoning, recent apartment updates, and a replacement roof support ongoing residential use.
Property Size3,384 SF
Price / SF$199.47
Days on Market2
Property Features for 2209 16th Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Highway Access
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
KW Platform
(518) 724-5800
Listed By:
Kristian Khachadourian · License #10401303476
(518) 937-4124
Source:
Crystinandcorealty
Added: Nov 5
Changed: Nov 6
Last Checked: Nov 6 at 2:54PM
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 KW Platform
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 7-unit apartment property contains 3,384 square feet and was built in 1890. Most apartments have been renovated in recent years, and the building has a new roof. The property is zoned Commercial and occupies a double lot.
Beman Park is across the street. RPI, downtown Troy, parks, restaurants, shopping, and major highways are nearby.
Beman Park is across the street. RPI, downtown Troy, parks, restaurants, shopping, and major highways are nearby.
Key Highlights
- Seven apartments in a 3,384‑square‑foot building
- Most units renovated in recent years
- New roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,076
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$821,520
$821.5K
Cap Rate 7%
$586,800
$586.8K
Cap Rate 9%
$456,400
$456.4K
Market Conditions
NOI Build-Up for 3,384 SF
Gross rent
$78.8K $23.28/SF
− Vacancy
−$4.1K −$1.21/SF
EGI
$74.7K $22.07/SF
− OpEx
−$33.6K −$9.93/SF
NOI
$41.1K $12.14/SF
Area
Rensselaer County, NY
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$821,520
Cap Rate 7%
$586,800
Cap Rate 9%
$456,400
Alternative Uses
Best Use
Apartment 5plus
$586.8K
$513.5K – $684.6K
NOI $41,076 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$845.9K
$740.2K – $986.9K
NOI $59,216 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
7
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,217
Businesses Nearby
Explore this area
Business Placement
Demographics for 12180, NY
55,907
Population
25,527
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
90%
High-School Grad
56.2 sq mi
ZIP Area
995
Density / Sq Mi
$73,767
Median Household Income
$41,787
Median Earnings
$1,188
Median Rent
$233,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Apartment buildings in Troy, NY
Properties on Market for Apartment buildings in Troy
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Commercial zoning, recent apartment updates, and a replacement roof support ongoing residential use.
Where is this apartment building located?
The property is located at 2209 16th Street Troy, NY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Seven apartments in a 3,384‑square‑foot building; Most units renovated in recent years; New roof
