Multi-Building Apartment
For Sale
$1,735,000
319 Speigletown Road, Troy, NY 12182
Three-building, 12-unit residential income portfolio offered as a package sale.
Property Size10,467 SF
Price / SF$165.76
Days on Market459
Property Features for 319 Speigletown Road
General Information
Standard status
Active
Size
10,467 SF
Property subtype
Commercial
Additional Details
Multifamily Units
12
Building Details
Tenancy
Multi
Listing Agency:
Berkshire Hathaway Home Services Blake
Listed By:
Karen Zalewski-Wildzunas
(518) 639-4663
Source:
Signatureonerealtygroup
Added: May 29, 2025
Changed: Aug 27
Last Checked: Aug 29 at 11:00AM
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 Berkshire Hathaway Home Services Blake
Investment Insights
Based on property information with market context.
This offering presents a three-building, 12-unit apartment portfolio designed for a residential income strategy. The package includes properties at 319 Speigletown Rd, 23-25 Prospect Ave, and 1105 Hutton St in Troy, New York. The transaction is structured as a combined sale, with the portfolio presented to simplify acquisition and streamline ownership.
The portfolio includes three separate addresses within Troy, NY, and is being offered together as part of a single package. Each site is referenced in the public remarks as part of the overall 12-unit structure, with additional details handled through the individual listings.
For buyers evaluating multifamily acquisition opportunities, the package format can be helpful for consolidating multiple buildings under one ownership plan. This could suit investors or owner-operators looking to add a small, multi-property residential income portfolio to their holdings. Prospective purchasers should review the individual listings referenced for each address to confirm unit-level details and any building-specific considerations before making a decision.
The portfolio includes three separate addresses within Troy, NY, and is being offered together as part of a single package. Each site is referenced in the public remarks as part of the overall 12-unit structure, with additional details handled through the individual listings.
For buyers evaluating multifamily acquisition opportunities, the package format can be helpful for consolidating multiple buildings under one ownership plan. This could suit investors or owner-operators looking to add a small, multi-property residential income portfolio to their holdings. Prospective purchasers should review the individual listings referenced for each address to confirm unit-level details and any building-specific considerations before making a decision.
Key Highlights
- Three‑building, 12‑unit residential income portfolio sold as a package
- Package includes 319 Speigletown Rd, Troy, NY
- Package includes 23‑25 Prospect Ave, Troy, NY
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
$111,803
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
6.44%
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%
$2,236,060
$2.2M
Cap Rate 7%
$1,597,186
$1.6M
Cap Rate 9%
$1,242,256
$1.2M
Market Conditions
NOI Build-Up for 10,467 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
$213.5K $20.40/SF
− Vacancy
−$10.2K −$0.98/SF
EGI
$203.3K $19.42/SF
− OpEx
−$91.5K −$8.74/SF
NOI
$111.8K $10.68/SF
Area
Albany County, NY
Vacancy
4.80%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$2,236,060
Cap Rate 7%
$1,597,186
Cap Rate 9%
$1,242,256
Alternative Uses
Best Use
Apartment 5plus
$1.60M
$1.40M – $1.86M
NOI $111,803 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.27M
$2.86M – $3.81M
NOI $228,631 @ 7.0% cap · market cap 13.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Explore this area
Business Placement
Demographics for 12182, NY
14,657
Population
7,314
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
1,070
Density / Sq Mi
$54,663
Median Household Income
$47,077
Median Earnings
$1,012
Median Rent
$195,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-building, 12-unit residential income portfolio offered as a package sale.
Where is this apartment building located?
The property is located at 319 Speigletown Road Troy, NY.
What is the asking price?
The asking price for this property is $1,735,000.
What are key features of this property?
This property features: Three‑building, 12‑unit residential income portfolio sold as a package; Package includes 319 Speigletown Rd, Troy, NY; Package includes 23‑25 Prospect Ave, Troy, NY
