Mixed-Use Building with
For Sale
$329,999
3367 6th Avenue, Troy, NY 12180
Renovated mixed-use property combining an open commercial space with three occupied apartments and separate utilities.
Property Size3,007 SF
Price / SF$109.74
Days on Market51
Property Features for 3367 6th Avenue
General Information
Standard status
Active
Size
3,007 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$56,100
Taxes and HOA fees
Annual Taxes
$6,100
Building Details
Year Built
1910
Buildings
1
Tenancy
Multi
Listing Agency:
Howard Hanna Capital Inc
(518) 258-7595
Listed By:
Mariana DeLuca · License #30194
(518) 258-7595
Source:
Capmarkrealty
Added: Jul 12
Changed: Aug 31
Last Checked: Aug 31 at 1:47AM
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
This 3,007-square-foot mixed-use building, constructed in 1910, combines a street-level commercial storefront with three residential apartments. The storefront offers an open layout, high ceilings, a half bath, and a mini-split system; its current use is a barbershop. Each apartment includes two bedrooms and one full bath, with additional layouts featuring living areas, dining space, or an office. A small backyard serves the property.
The building has undergone renovation throughout, including updated siding, windows, and roofing. Mechanical improvements include two new boilers and a new split system serving the storefront. All three apartments and the commercial space are occupied, and the uses are separately metered. The property is located in Troy near schools, shopping, transportation, and major highways.
The building has undergone renovation throughout, including updated siding, windows, and roofing. Mechanical improvements include two new boilers and a new split system serving the storefront. All three apartments and the commercial space are occupied, and the uses are separately metered. The property is located in Troy near schools, shopping, transportation, and major highways.
Key Highlights
- 3,007 SF mixed‑use building with one commercial storefront and 3 apartments
- All 3 apartments and the storefront are fully occupied
- Each apartment includes 2 beds and 1 full bath
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
$29,769
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
9.02%
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%
$595,380
$595.4K
Cap Rate 7%
$425,271
$425.3K
Cap Rate 9%
$330,767
$330.8K
Market Conditions
NOI Build-Up for 3,007 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
$54.1K $18.00/SF
− Vacancy
−$6.5K −$2.16/SF
EGI
$47.6K $15.84/SF
− OpEx
−$17.9K −$5.94/SF
NOI
$29.8K $9.90/SF
Area
Albany County, NY
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$595,380
Cap Rate 7%
$425,271
Cap Rate 9%
$330,767
Alternative Uses
Best Use
Retail
$518.5K
$453.7K – $605.0K
NOI $36,297 @ 7.0% cap · market cap 11.00%
Second Best
Multifamily LT 5
$496.0K
$434.0K – $578.7K
NOI $34,721 @ 7.0% cap · market cap 10.52%
Theoretical Best
Office A
$938.3K
$821.0K – $1.09M
NOI $65,682 @ 7.0% cap · market cap 19.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
325
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?
Mixed-use property - Renovated mixed-use property combining an open commercial space with three occupied apartments and separate utilities.
Where is this mixed-use property located?
The property is located at 3367 6th Avenue Troy, NY.
What is the asking price?
The asking price for this property is $329,999.
What are key features of this property?
This property features: 3,007 SF mixed‑use building with one commercial storefront and 3 apartments; All 3 apartments and the storefront are fully occupied; Each apartment includes 2 beds and 1 full bath
