Downtown Troy Brick
28 2nd Street Troy, NY 12180
28 2nd Street, Troy, NY, 12180
$1,450,000
For Sale
$1,450,000
9,171 SF three-story building in downtown Troy.
Property Size9,171 SF
Lot Size0.11 Acres
Price / SF$158.11
Days on Market291
Property Features for 28 2nd Street
General Information
- Standard status
- Active
- Size
- 9,171 SF
- Lot size
- 0.11 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1840
Listing Agency
NAI PLATFORM LLC
(518) 465-1400
Listed by
CORY M TYKSINSKI · License #10491200588
Source
Corcoran
Added: Oct 3, 2025 Updated: Jul 10 at 3:46 pm Checked: Jul 20 at 3:40 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 NAI PLATFORM LLC
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.
Local Financial Insights For Mixed Use
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 | $165.1k | $18.00 |
| − Vacancy | −$19.8k | −$2.16 |
| EGI | $145.3k | $15.84 |
| − OpEx | −$54.5k | −$5.94 |
| NOI | $90.8k | $9.90 |
9,171 SF · lease $18.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$2.02M
$1.77M – $2.36M
NOI $141,637 @ 7.0% cap · market cap 9.77%
Second Best
Mixed Use
$1.30M
$1.13M – $1.51M
NOI $90,793 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$2.86M
$2.50M – $3.34M
NOI $200,323 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
E. Stewart Jones ...
Law Firm
Michael W. Kessler
Law Firm
Similar For Sale Nearby
FAQs
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 Street 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.
