Building Details

Year built 1958

Floors in Building 3

Flooring type Laminate, Hardwood, Tile

Building materials Brick

Buildings 1

Listing Agency: Miranda Real Estate Group Inc

Listed By: Anthony R Gagliardi Show Phone

Added: Nov 5 Changed: Nov 6 Last Checked: Nov 6 at 12:06PM

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MLS# 12058838

Copyright © 2026 My State MLS. 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.

This 6,000-square-foot, three-story brick property contains two commercial spaces on the ground floor and five apartments on the upper levels. The apartments are updated, and all seven units are currently leased. The building was constructed in 1958 and sits on a 0.06-acre lot.

At 289 Ontario Street in Cohoes, the property is across from City Hall. A mural is painted on the building’s side facing the park and City Hall.

Key Highlights

• 6,000‑square‑foot, three‑story brick building
• Two ground‑floor commercial spaces and five apartments
• All seven units are currently leased

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$72,425

Cap Rate

9.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,448,500 $1.4M

Cap Rate 7%

$1,034,643 $1.0M

Cap Rate 9%

$804,722 $804.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,000 SF

Gross rent

$108.0K $18.00/SF

− Vacancy

−$4.5K −$0.76/SF

EGI

$103.5K $17.24/SF

− OpEx

−$31.0K −$5.17/SF

NOI

$72.4K $12.07/SF

Area

Albany County, NY

Vacancy

4.20%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,448,500

Cap Rate 7%

$1,034,643

Cap Rate 9%

$804,722

Alternative Uses

Best Use

Retail

$1.03M

$905.3K – $1.21M (±1% cap)

NOI $72,425 @ 7.0% cap · market cap 9.06%

Second Best

Apartment 5plus

$915.6K

$801.1K – $1.07M (±1% cap)

NOI $64,089 @ 7.0% cap · market cap 8.02%

Theoretical Best

Office A

$1.87M

$1.64M – $2.18M (±1% cap)

NOI $131,058 @ 7.0% cap · market cap 16.40%

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

Subs-Ta-Toot Take-out & Catering Community Miracles in Action Charitable Organization

Suggested Use

Top Pick Law Firm Real Estate Agency Spa & Massage Center Parking Lot & Garage Dental Office Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

5

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

736

Businesses Nearby

Explore this area Business Placement

Demographics for 12047, NY

23,347

Population

10,963

Households

2.1

Avg Household Size

40

Median Age

33%

College-Educated

91%

High-School Grad

8.8 sq mi

ZIP Area

2,653

Density / Sq Mi

$66,970

Median Household Income

$46,476

Median Earnings

$1,213

Median Rent

$237,200

Median Home Value

Market

Average Price Trend$/SF for Mixed-use properties in Albany County, NY

$160 Jul

$156 Aug

$150 Sep

$155 Oct

Properties on Market for Mixed-use properties in Albany County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The three-story property combines leased commercial space at street level with updated apartments above.

Where is this mixed-use property located?

The property is located at 289 Ontario Street Cohoes, NY.

What is the asking price?

The asking price for this property is $799,000.

What are key features of this property?

This property features: 6,000‑square‑foot, three‑story brick building; Two ground‑floor commercial spaces and five apartments; All seven units are currently leased