7-Unit Apartment
For Sale
$675,000
2209 16th Street, Troy, NY 12180
Business Opportunity, Troy, NY
Property Size3,384 SF
Price / SF$199.47
Days on Market89
Property Features for 2209 16th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 4, Bathroom 6, Bathroom 5, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 7
High school district
Troy
Directions
From Troy - Take 7 North to Hoosick street, Turn right onto 16th st, at the end of the 16th house will be on your right.
Standard status
Active
APN
381700 101.40-7-4
Size
3,384 SF
Utilities
Heating system
Radiant
Water source
Public
Building Details
Year built
1890
Floors in Building
3
Flooring type
Laminate, Hardwood
Roof type
Flat, Asphalt
Listing Agency:
KW PLATFORM
(518) 724-5800
Listed By:
Kristian Khachadourian · License #10401303476
(518) 937-4124
Added: Jul 14
Changed: Oct 1
Last Checked: Oct 10 at 5:06PM
MLS# 11885435
Copyright © 2026 My State MLS. 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 3,384-square-foot apartment building contains seven units and dates to 1890. Most apartments have been renovated in the past several years, and the property has a new roof. Interior finishes include hardwood and laminate flooring, while radiant heating and public water serve the building. The roof is flat and asphalt.
The property occupies a double lot across from Beman Park in Troy. RPI, downtown Troy, parks, restaurants, shopping, and major highways are nearby. The property includes seven bathrooms and offers a combination of renovated apartment interiors, established building improvements, and a central Troy location.
The property occupies a double lot across from Beman Park in Troy. RPI, downtown Troy, parks, restaurants, shopping, and major highways are nearby. The property includes seven bathrooms and offers a combination of renovated apartment interiors, established building improvements, and a central Troy location.
Key Highlights
- Seven‑unit apartment building on a double lot
- 3,384 square feet of building area
- Most apartments renovated in the past several years
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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
7
Residential units
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
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated apartments on a double lot across from Beman Park, with public water and proximity to downtown Troy.
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‑unit apartment building on a double lot; 3,384 square feet of building area; Most apartments renovated in the past several years
