Established Plumbing/Heating AC Business For
For Sale
$849,900
323 5th Avenue, Troy, NY
94-year-old plumbing and HVAC business with real estate and client list.
Property Size2,391 SF
Price / SF$355.46
Days on Market331
Property Features for 323 5th Avenue
General Information
Standard status
Active
Size
2,391 SF
Property subtype
Mixed Use
Building Details
Building Size
2,391 SF
Listing Agency:
Pyramidbrokerage
(518) 489-9199
Listed By:
Pyramid Brokerage Albany
(518) 489-9199
Source:
Pyramidbrokerage
Added: Sep 25, 2025
Changed: Aug 8
Last Checked: Aug 20 at 4:26AM
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 Pyramidbrokerage
Investment Insights
Based on property information with market context.
This offering features the longest-established Plumbing/Heating AC business in Troy, with 94 years of operation. A substantial commercial and residential client list in the Capital District includes prominent entities such as Stuyvesant Plaza and Towers, Saint Peters Hospital Health Care Group, CBRE Realty Group Managing Properties, British American, Troy Music Hall, True Troy Prep Elementary & High Schools, Troy Public Library, and numerous churches, synagogues, multi-unit landlords, and homeowners. The owners are prepared to remain in a part-time consulting capacity during the initial transition to aid with procedural ordering, materials, vendors, fielding calls, scheduling work orders, and on-site supervision. The property includes a 2,400 square foot brick building, which comprises a front office, parts storage, warehousing, and a rear two-vehicle garage. Two stocked vans are included in the sale.
Key Highlights
- Established Plumbing/Heating/AC business with 94 years of operation in Troy.
- Extensive commercial and residential client list including Stuyvesant Plaza, Saint Peters Hospital, and Troy Music Hall.
- Owners willing to provide part‑time consulting during the initial transition.
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
$36,927
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
4.34%
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%
$738,540
$738.5K
Cap Rate 7%
$527,529
$527.5K
Cap Rate 9%
$410,300
$410.3K
Market Conditions
NOI Build-Up for 2,391 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
$63.1K $26.40/SF
− Vacancy
−$13.9K −$5.81/SF
EGI
$49.2K $20.59/SF
− OpEx
−$12.3K −$5.15/SF
NOI
$36.9K $15.44/SF
Area
Albany County, NY
Vacancy
22.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$738,540
Cap Rate 7%
$527,529
Cap Rate 9%
$410,300
Alternative Uses
Best Use
Office B
$527.5K
$461.6K – $615.5K
NOI $36,927 @ 7.0% cap · market cap 4.34%
Second Best
Retail
$412.3K
$360.8K – $481.0K
NOI $28,861 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$746.1K
$652.8K – $870.5K
NOI $52,227 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 94-year-old plumbing and HVAC business with real estate and client list.
Where is this mixed-use property located?
The property is located at 323 5th Avenue Troy, NY.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Established Plumbing/Heating/AC business with 94 years of operation in Troy.; Extensive commercial and residential client list including Stuyvesant Plaza, Saint Peters Hospital, and Troy Music Hall.; Owners willing to provide part‑time consulting during the initial transition.
