Converted School Multifamily
2920 5th Avenue Troy, NY 12180
New
2920 5th Avenue, Troy, NY, 12180
$4,250,000
For Sale
$4,250,000
COMMERCIAL - Troy, NY
Property Size26,000 SF
Lot Size0.60 Acres
Price / SF$163.46
Days on Market7
Property Features for 2920 5th Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- Size
- 26,000 SF
- Lot size
- 0.60 Acres
Utilities
- Water source
- Public
Listing Agency
REALTY ONE GROUP KEY
(518) 630-0360
635 PLANK RD, CLIFTON PARK, NY
Listed by
Leah Witko · License #10401256547
(518) 630-0360
Added: Jul 13 Checked: Jul 19 at 12:06 pm
MLS# 11883223
Listing URL
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.
Investment Insights
Based on property information with market context.
This renovated multifamily building was converted from a school and offers 29 residential units. The property features high ceilings and in-house laundry facilities. Parking is included on site.
Located in Northern Troy, the building is described as being close to services, shopping, and highways.
The offering is for sale and includes parking and residential improvements resulting from the school conversion.
Located in Northern Troy, the building is described as being close to services, shopping, and highways.
The offering is for sale and includes parking and residential improvements resulting from the school conversion.
Key Highlights
- 29‑unit multifamily building converted from a school, offering renovated residential units
- Public water source
- Building features high ceilings and laundry in‑house
Local Financial Insights For Apartment 5plus
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 | $530.4k | $20.40 |
| − Vacancy | −$25.5k | −$0.98 |
| EGI | $504.9k | $19.42 |
| − OpEx | −$227.2k | −$8.74 |
| NOI | $277.7k | $10.68 |
26,000 SF · lease $20.40/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.97M
$3.47M – $4.63M
NOI $277,717 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.11M
$7.10M – $9.47M
NOI $567,920 @ 7.0% cap · market cap 13.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
school one
Apartment Building
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Renovated 29-unit multifamily building with in-house laundry and on-site parking in Northern Troy.
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 $4,250,000.
What are key features of this property?
This property features: 29‑unit multifamily building converted from a school, offering renovated residential units; Public water source; Building features high ceilings and laundry in‑house
