Mixed-Use Building with
New
For Sale
$419,900
278 River Street, Troy, NY 12180
Three levels combine a ground-floor commercial space with two residential units above.
Property Size2,720 SF
Price / SF$154.38
Days on Market4
Property Features for 278 River Street
General Information
Standard status
Active
Size
2,720 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Mixed-Use Components
retail, residential
Amenities
complimentary parking
Building Details
Year Built
1890
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
KW Platform
Listed By:
Scott P Varley · License #30VA0727304
(518) 281-6808
Source:
Signatureonerealtygroup
Added: Oct 28
Changed: Oct 30
Last Checked: Oct 30 at 1:46PM
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
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Investment Insights
Based on property information with market context.
This three-story mixed-use property in downtown Troy totals 2,720 square feet. The ground level contains a storefront, while the second and third floors each have a two-bedroom, one-bathroom apartment. The apartments have not previously been rented, and the building’s historic character provides a distinct setting for its commercial and residential spaces.
The property is at 278 River Street in downtown Troy, with complimentary parking. The building brings together storefront and apartment space in a central downtown location.
The property is at 278 River Street in downtown Troy, with complimentary parking. The building brings together storefront and apartment space in a central downtown location.
Key Highlights
- Three‑story mixed‑use property with 2,720 square feet
- Ground‑floor storefront space
- Two apartments, each with 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,584
Cap Rate
8.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$691,680
$691.7K
Cap Rate 7%
$494,057
$494.1K
Cap Rate 9%
$384,267
$384.3K
Market Conditions
NOI Build-Up for 2,720 SF
Gross rent
$51.6K $18.96/SF
− Vacancy
−$2.2K −$0.80/SF
EGI
$49.4K $18.16/SF
− OpEx
−$14.8K −$5.45/SF
NOI
$34.6K $12.71/SF
Area
Rensselaer County, NY
Vacancy
4.20%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$691,680
Cap Rate 7%
$494,057
Cap Rate 9%
$384,267
Alternative Uses
Best Use
Retail
$494.1K
$432.3K – $576.4K
NOI $34,584 @ 7.0% cap · market cap 8.24%
Second Best
Apartment 5plus
$471.7K
$412.7K – $550.3K
NOI $33,016 @ 7.0% cap · market cap 7.86%
Theoretical Best
Office A
$680.0K
$595.0K – $793.3K
NOI $47,597 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,100
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three levels combine a ground-floor commercial space with two residential units above.
Where is this mixed-use property located?
The property is located at 278 River Street Troy, NY.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Three‑story mixed‑use property with 2,720 square feet; Ground‑floor storefront space; Two apartments, each with 2 bedrooms and 1 bathroom
