Remodeled Brick
New
For Sale
$339,999
329 9th St, Troy, NY 12180
Three vacant units feature updated kitchens, tiled-shower bathrooms, and modern mechanical systems.
Property Size2,168 SF
Price / SF$156.83
Days on Market2
Property Features for 329 9th St
General Information
Standard status
Active
Size
2,168 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1890
Buildings
1
Construction
all-brick
Listing Agency:
Berkshire Hathaway Home Services Blake
Listed By:
Michael Field · License #10491203035
(518) 669-1804
Source:
Fieldrealty
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 2:21AM
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 three-unit property at 329 9th St in Troy combines all-brick construction with a comprehensive interior renovation. The 2,168-square-foot building includes three separate residences with spacious layouts, refreshed kitchens, renovated bathrooms featuring tiled showers, and updated finishes. All units are currently vacant.
Major building improvements include updated plumbing and electrical systems, along with Navien heat and hot water equipment. Originally built in 1890, the property retains durable masonry construction while incorporating substantial modern updates across the building.
Major building improvements include updated plumbing and electrical systems, along with Navien heat and hot water equipment. Originally built in 1890, the property retains durable masonry construction while incorporating substantial modern updates across the building.
Key Highlights
- Three‑family property with 2,168 square feet
- All‑brick construction dating to 1890
- Three currently vacant residential units
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
$25,033
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
7.36%
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%
$500,660
$500.7K
Cap Rate 7%
$357,614
$357.6K
Cap Rate 9%
$278,144
$278.1K
Market Conditions
NOI Build-Up for 2,168 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
$37.7K $17.40/SF
− Vacancy
−$2.0K −$0.90/SF
EGI
$35.8K $16.50/SF
− OpEx
−$10.7K −$4.95/SF
NOI
$25.0K $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%
$500,660
Cap Rate 7%
$357,614
Cap Rate 9%
$278,144
Alternative Uses
Best Use
Multifamily LT 5
$357.6K
$312.9K – $417.2K
NOI $25,033 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$330.8K
$289.5K – $386.0K
NOI $23,157 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$676.5K
$592.0K – $789.3K
NOI $47,356 @ 7.0% cap · market cap 13.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,037
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three vacant units feature updated kitchens, tiled-shower bathrooms, and modern mechanical systems.
Where is this triplex located?
The property is located at 329 9th St Troy, NY.
What is the asking price?
The asking price for this property is $339,999.
What are key features of this property?
This property features: Three‑family property with 2,168 square feet; All‑brick construction dating to 1890; Three currently vacant residential units
