Downtown Troy Brick
For Sale
$1,450,000
28 2nd St, Troy, NY 12180
9,171 SF three-story building in downtown Troy.
Property Size9,171 SF
Price / SF$158.11
Days on Market228
Property Features for 28 2nd St
General Information
Standard status
Active
Size
9,171 SF
Building Details
Year Built
1840
Listing Agency:
NAI Platform
Listed By:
Cory Tyksinski · License #10491200588
(518) 465-1400
Source:
Amodiorealestate
Added: Mar 5
Changed: Oct 5
Last Checked: Oct 19 at 10:06AM
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 NAI Platform
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Investment Insights
Based on property information with market context.
This is an immaculately maintained, circa 1840, 9,171 SF brick building located in the heart of downtown Troy. The three-story building features private offices, conference rooms, a reception area, and office cubicles throughout. Each floor includes one to two bathrooms. The top floor, previously an apartment, contains a kitchen, two full baths, a front balcony, and a rear deck, making it suitable for live/work use. Elevator access is available to all floors, including the basement, which features a two-car garage and a former spa space now used as a bullpen of offices. Rear surface parking is available for five to six cars. An ADA-compliant rear entry lift is present. The property is ideal for owner-occupant professional use or investor redevelopment into multifamily housing. A parking lot at 47 3rd St. and a mixed-use building at 45 3rd St. across the alleyway are also for sale by the same owner.
Key Highlights
- 9,171 SF brick building in the heart of downtown Troy.
- Elevator access to all floors, including basement with two‑car garage.
- Top floor with kitchen, two full baths, front balcony, and rear deck, ideal for live/work.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,520
Cap Rate
7.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,250,400
$2.3M
Cap Rate 7%
$1,607,429
$1.6M
Cap Rate 9%
$1,250,222
$1.3M
Market Conditions
NOI Build-Up for 9,171 SF
Gross rent
$190.4K $20.76/SF
− Vacancy
−$40.4K −$4.40/SF
EGI
$150.0K $16.36/SF
− OpEx
−$37.5K −$4.09/SF
NOI
$112.5K $12.27/SF
Area
Rensselaer County, NY
Vacancy
21.20%
Lease Rate
$20.76 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,250,400
Cap Rate 7%
$1,607,429
Cap Rate 9%
$1,250,222
Alternative Uses
Best Use
Office B
$1.61M
$1.41M – $1.88M
NOI $112,520 @ 7.0% cap · market cap 7.76%
Second Best
Mixed Use
$1.30M
$1.13M – $1.51M
NOI $90,793 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$2.29M
$2.01M – $2.67M
NOI $160,482 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - 9,171 SF three-story building in downtown Troy.
Where is this office building located?
The property is located at 28 2nd St Troy, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 9,171 SF brick building in the heart of downtown Troy.; Elevator access to all floors, including basement with two‑car garage.; Top floor with kitchen, two full baths, front balcony, and rear deck, ideal for live/work.
