Mixed-Use Building with
New
For Sale
$419,900
278 - 280 River Street, Troy, NY 12180
Commercial Sale, Troy, NY
Property Size2,720 SF
Lot Size0.02 Acres
Price / SF$154.38
Days on Market4
Property Features for 278 - 280 River Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bathroom 2
Parking features
On Street
Lot features
Views, Road Frontage, Corner Lot
View
River
Elementary school district
Troy
Middle school district
Troy
High school district
Troy
Directions
From I-787 in Albany, cross into Troy and follow River Street (Route 2). The building will be on your right.
Standard status
Active
APN
381700 101.53-3-1.22
Size
2,720 SF
Lot size
0.02 Acres
Additional Details
Mixed-Use Components
retail, residential
Taxes and HOA fees
Tax Annual Amount
8404
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1890
Floors in Building
3
Flooring type
Wood, Carpet, Tile
Building materials
Brick
Roof type
Concrete
Architectural style
Other
Buildings
1
Listing Agency:
KW Platform · Keller Williams Realty
Listed By:
Scott P Varley · License #30VA0727304
(518) 281-6808
Added: Oct 28
Last Checked: Oct 31 at 4:06AM
MLS# 202629078
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.
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Investment Insights
Based on property information with market context.
At 278–280 River Street, this three-story brick property combines a ground-floor storefront with two apartments above. The storefront is vacant, and each upper-level apartment contains two bedrooms and one bathroom. The building provides 2,720 square feet on a 0.02-acre lot and dates to 1890. Wood, carpet, and tile flooring are listed, with natural gas forced-air heat.
The property is in downtown Troy, near the Troy Waterfront Farmers Market, restaurants, independent boutiques, historic landmarks, and the Hudson River waterfront. Zoning is listed as Mixed; water service is public, and the property connects to public sewer.
The property is in downtown Troy, near the Troy Waterfront Farmers Market, restaurants, independent boutiques, historic landmarks, and the Hudson River waterfront. Zoning is listed as Mixed; water service is public, and the property connects to public sewer.
Key Highlights
- Three‑story brick mixed‑use building constructed in 1890
- 2,720 square feet on a 0.02‑acre lot
- Ground‑floor storefront with two apartments above
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,100
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two upper-floor apartments add residential space above a ground-level commercial storefront.
Where is this mixed-use property located?
The property is located at 278 - 280 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 brick mixed‑use building constructed in 1890; 2,720 square feet on a 0.02‑acre lot; Ground‑floor storefront with two apartments above
