Rensselaer Commercial Building For
223 Broadway Rensselaer, NY 12144
223 Broadway, Rensselaer, NY, 12144
$1,500,000
For Sale
$1,500,000
8,500 SF building in downtown Rensselaer with ample parking.
Property Size8,500 SF
Lot Size0.27 Acres
Price / SF$176.47
Days on Market183
Property Features for 223 Broadway
General Information
- Standard status
- Active
- Size
- 8,500 SF
- Lot size
- 0.27 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1950
Listing Agency
RE/MAX CAPITAL
(518) 724-6800
Listed by
DOUGLAS S SCHENK · License #30SC0782781
Source
Corcoran
Added: Jan 19 Updated: Jul 10 at 12:57 pm Checked: Jul 20 at 5:38 am
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 RE/MAX CAPITAL
Investment Insights
Based on property information with market context.
Located in the downtown business district of Rensselaer, 223 Broadway is situated at the corner of Broadway and Ferry Street, just off the 787 entrance ramp and seconds from Route 9 and 20. The property is also a couple of minutes from I-87 North and South bound, as well as I-90 East and West bound, offering convenient access. The 8,500 sq ft building is a free span, solid block structure with a brick facade and vinyl siding. It features 16' ceilings, a full basement, and three-phase/400V electric. There is plenty of off-street parking with 15-20 spaces in the rear. Updates include a new rubber roof planned for 2025 and an updated heating system. The property is currently operating as an auto parts business, which is also available for sale. The property is located within the MU-1 Downtown Mixed-Use zone.
Key Highlights
- Prime location in Rensselaer's Downtown business district, near major routes (787, 9 & 20, I‑87, I‑90) and Albany.
- 8,500 sq ft free span solid block building with brick facade and vinyl siding.
- Ample off‑street parking with 15‑20 spaces.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $161.2k | $18.96 |
| − Vacancy | −$6.8k | −$0.80 |
| EGI | $154.4k | $18.16 |
| − OpEx | −$46.3k | −$5.45 |
| NOI | $108.1k | $12.71 |
8,500 SF · lease $18.96/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.54M
$1.35M – $1.80M
NOI $108,074 @ 7.0% cap · market cap 7.20%
Second Best
Industrial
$1.28M
$1.12M – $1.50M
NOI $89,835 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,740 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Auto shops
Similar For Sale Nearby
Similar Off Market Nearby
- Red Mill Auto Collision Center — 1139 Red Mill Rd, Rensselaer, NY 12144
- P.R. All Stars Auto Repair shop — 91 Troy Rd, East Greenbush, NY 12061
FAQs
What type of property is this?
Auto shop - 8,500 SF building in downtown Rensselaer with ample parking.
Where is this auto shop located?
The property is located at 223 Broadway Rensselaer, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Prime location in Rensselaer's Downtown business district, near major routes (787, 9 & 20, I‑87, I‑90) and Albany.; **8,500 sq ft free span solid block building** with brick facade and vinyl siding.; Ample off‑street parking with 15‑20 spaces.
