Brick 3-Unit
New
For Sale
$309,900
29 Main St, Ravena, NY 12143
Fully occupied brick multifamily property with updated mechanical systems, public utilities, parking, and a fenced yard.
Property Size2,448 SF
Price / SF$126.59
Days on Market5
Property Features for 29 Main St
General Information
Standard status
Active
Size
2,448 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Amenities
off-street parking
fenced-in yard
Building Details
Year Built
1890
Buildings
1
Construction
brick
Listing Agency:
Julie & Co Realty LLC
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Sep 19
Changed: Sep 23
Last Checked: Sep 22 at 4:24PM
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 Julie & Co Realty LLC
Investment Insights
Based on property information with market context.
This 2,448-square-foot brick triplex was built in 1890 and is configured as a three-unit residential property. The building is fully occupied and includes off-street parking, a fenced-in yard, and public water and sewer service.
Capital improvements completed in 2025 include a new flat rubber roof, three new gas furnaces, and three new gas hot water heaters. The property is near major highways and the NYS Thruway, with access to the Hudson River waterfront, marina, boat launch, and restaurant options. Albany is approximately 20 minutes away, while Coxsackie is approximately 15 minutes away.
Capital improvements completed in 2025 include a new flat rubber roof, three new gas furnaces, and three new gas hot water heaters. The property is near major highways and the NYS Thruway, with access to the Hudson River waterfront, marina, boat launch, and restaurant options. Albany is approximately 20 minutes away, while Coxsackie is approximately 15 minutes away.
Key Highlights
- Three‑unit brick multifamily property with 2,448 square feet
- Fully occupied with established tenants
- 2025 improvements include a new flat rubber roof
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,266
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$565,320
$565.3K
Cap Rate 7%
$403,800
$403.8K
Cap Rate 9%
$314,067
$314.1K
Market Conditions
NOI Build-Up for 2,448 SF
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.
Gross rent
$42.6K $17.40/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$40.4K $16.50/SF
− OpEx
−$12.1K −$4.95/SF
NOI
$28.3K $11.55/SF
Area
Albany County, NY
Vacancy
5.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$565,320
Cap Rate 7%
$403,800
Cap Rate 9%
$314,067
Alternative Uses
Best Use
Multifamily LT 5
$403.8K
$353.3K – $471.1K
NOI $28,266 @ 7.0% cap · market cap 9.12%
Second Best
Apartment 5plus
$373.5K
$326.9K – $435.8K
NOI $26,148 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$763.9K
$668.4K – $891.2K
NOI $53,472 @ 7.0% cap · market cap 17.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Explore this area
Business Placement
Demographics for 12143, NY
4,903
Population
2,523
Households
1.9
Avg Household Size
42
Median Age
27%
College-Educated
90%
High-School Grad
19.1 sq mi
ZIP Area
257
Density / Sq Mi
$89,450
Median Household Income
$41,458
Median Earnings
$1,022
Median Rent
$222,400
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
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied brick multifamily property with updated mechanical systems, public utilities, parking, and a fenced yard.
Where is this triplex located?
The property is located at 29 Main St Ravena, NY.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Three‑unit brick multifamily property with 2,448 square feet; Fully occupied with established tenants; 2025 improvements include a new flat rubber roof
