Two-Unit Duplex with Separate
For Sale
$279,995
Pending
260 Delaware Avenue, Albany, NY 12209
COMMERCIAL - Albany, NY
Property Size1,680 SF
Lot Size0.61 Acres
Days on Market700
Property Features for 260 Delaware Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Multi Residence
Parking
6
Directions
Delaware Ave Albany at Magnolia Terrace.
Standard status
Pending
APN
010100 76.54-4-13
Size
1,680 SF
Lot size
0.61 Acres
Taxes and HOA fees
Tax Annual Amount
4272
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
1867
Floors in Building
2
Building materials
Wood Siding
Roof type
Asphalt
Listing Agency:
Hanna Commercial
(518) 458-7000
Listed By:
Philip Sabatino · License #10401299525
(518) 376-2717
Added: Sep 20, 2024
Changed: Aug 4
Last Checked: Aug 20 at 9:06PM
MLS# 202425919
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 1,680-square-foot duplex contains two separate residential units arranged across two floors. The first-floor residence includes two bedrooms, one full bathroom, and a kitchen, while the second-floor unit offers one bedroom, one full bathroom, and its own kitchen. The property was built in 1867 and features wood siding, an asphalt roof, and baseboard heating.
Set on a 0.61-acre parcel at 260 Delaware Avenue in Albany, the property carries Multi Residence zoning. Public water and public sewer serve the building. The two-unit configuration provides distinct living arrangements within a single residential income property.
Set on a 0.61-acre parcel at 260 Delaware Avenue in Albany, the property carries Multi Residence zoning. Public water and public sewer serve the building. The two-unit configuration provides distinct living arrangements within a single residential income property.
Key Highlights
- Two‑unit duplex with a 2‑bedroom first‑floor unit and 1‑bedroom second‑floor unit
- 1,680 square feet on a 0.61‑acre lot
- Multi Residence zoning
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
$19,132
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
6.83%
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%
$382,640
$382.6K
Cap Rate 7%
$273,314
$273.3K
Cap Rate 9%
$212,578
$212.6K
Market Conditions
NOI Build-Up for 1,680 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
$29.2K $17.40/SF
− Vacancy
−$1.9K −$1.13/SF
EGI
$27.3K $16.27/SF
− OpEx
−$8.2K −$4.88/SF
NOI
$19.1K $11.39/SF
Area
Albany, NY
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$382,640
Cap Rate 7%
$273,314
Cap Rate 9%
$212,578
Alternative Uses
Best Use
Multifamily LT 5
$273.3K
$239.2K – $318.9K
NOI $19,132 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$245.2K
$214.5K – $286.0K
NOI $17,161 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$443.2K
$387.8K – $517.1K
NOI $31,026 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
916
Businesses Nearby
Explore this area
Business Placement
Demographics for 12209, NY
10,231
Population
4,768
Households
2.1
Avg Household Size
37
Median Age
46%
College-Educated
88%
High-School Grad
2.2 sq mi
ZIP Area
4,650
Density / Sq Mi
$81,642
Median Household Income
$51,848
Median Earnings
$1,165
Median Rent
$200,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level duplex with distinct residential units, public utilities, baseboard heat, and multi-residence zoning.
Where is this duplex located?
The property is located at 260 Delaware Avenue Albany, NY.
What is the asking price?
The asking price for this property is $279,995.
What are key features of this property?
This property features: Two‑unit duplex with a 2‑bedroom first‑floor unit and 1‑bedroom second‑floor unit; 1,680 square feet on a 0.61‑acre lot; Multi Residence zoning
