Renovated School Conversion
For Sale
$4,149,000
2920 5TH Avenue, Troy, NY 12180
Converted school building offering 29 renovated residential units with in-unit laundry and on-site parking.
Property Size25,519 SF
Price / SF$162.58
Days on Market88
Property Features for 2920 5TH Avenue
General Information
Standard status
Active
Size
25,519 SF
Property subtype
Multi-family
Building Details
Year Built
1920
Listing Agency:
Realty One Group Key
Listed By:
Ryan Mortka
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jul 10
Changed: Oct 4
Last Checked: Oct 4 at 10:15AM
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 Realty One Group Key
Investment Insights
Based on property information with market context.
This renovated multifamily property was converted from a school into residential units. The building totals 29 units and features high ceilings, with laundry in the units. On-site parking is included with the property.
Located at 2920 5th Avenue in Troy, the building is described as being close to services, shopping, and highways.
The available information is for the sale of the 29-unit school conversion multifamily building plus parking. Contact us for additional details, including any financing considerations mentioned for the transaction.
Located at 2920 5th Avenue in Troy, the building is described as being close to services, shopping, and highways.
The available information is for the sale of the 29-unit school conversion multifamily building plus parking. Contact us for additional details, including any financing considerations mentioned for the transaction.
Key Highlights
- Converted school building offering 29 renovated residential units
- In‑unit laundry in each residence
- On‑site parking included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$309,755
Cap Rate
7.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,195,100
$6.2M
Cap Rate 7%
$4,425,071
$4.4M
Cap Rate 9%
$3,441,722
$3.4M
Market Conditions
NOI Build-Up for 25,519 SF
Gross rent
$594.1K $23.28/SF
− Vacancy
−$30.9K −$1.21/SF
EGI
$563.2K $22.07/SF
− OpEx
−$253.4K −$9.93/SF
NOI
$309.8K $12.14/SF
Area
Rensselaer County, NY
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,195,100
Cap Rate 7%
$4,425,071
Cap Rate 9%
$3,441,722
Alternative Uses
Best Use
Apartment 5plus
$4.43M
$3.87M – $5.16M
NOI $309,755 @ 7.0% cap · market cap 7.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.38M
$5.58M – $7.44M
NOI $446,554 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
818
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Converted school building offering 29 renovated residential units with in-unit laundry and on-site parking.
Where is this apartment building located?
The property is located at 2920 5TH Avenue Troy, NY.
What is the asking price?
The asking price for this property is $4,149,000.
What are key features of this property?
This property features: Converted school building offering 29 renovated residential units; In‑unit laundry in each residence; On‑site parking included
