Renovated Four-Unit
For Sale
$550,000
360 Madison Ave, Albany, NY 12210
Separate utilities support efficient operations across this four-unit residential property.
Property Size4,464 SF
Price / SF$123.21
Days on Market60
Property Features for 360 Madison Ave
General Information
Standard status
Active
Size
4,464 SF
Property subtype
Residential Income
Additional Details
Gross Income
$65,100
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$14,808
Listing Agency:
Lincoln House Realty
(518) 469-6238
Listed By:
John Alund · License #10491208073
(518) 469-6238
Source:
Exprealty
Added: Jun 16
Changed: Aug 14
Last Checked: Aug 14 at 6:50AM
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 Lincoln House Realty
Investment Insights
Based on property information with market context.
This four-unit residential property at 360 Madison Ave includes 4464 square feet of building area and has been fully renovated. Separate utilities serve the property, providing distinct operating arrangements across the units. The asset is also described as well-maintained.
The property is located in Albany near hospitals, colleges, downtown employers, restaurants, and public transportation. Its four-unit configuration provides a multifamily format with separate residential spaces and multiple utility accounts. The property may also be packaged with 211 Quail Street.
The property is located in Albany near hospitals, colleges, downtown employers, restaurants, and public transportation. Its four-unit configuration provides a multifamily format with separate residential spaces and multiple utility accounts. The property may also be packaged with 211 Quail Street.
Key Highlights
- Four‑unit residential property
- 4464 square feet of building area
- Fully renovated
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
$45,599
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
8.29%
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%
$911,980
$912.0K
Cap Rate 7%
$651,414
$651.4K
Cap Rate 9%
$506,656
$506.7K
Market Conditions
NOI Build-Up for 4,464 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
$88.4K $19.80/SF
− Vacancy
−$5.5K −$1.23/SF
EGI
$82.9K $18.57/SF
− OpEx
−$37.3K −$8.36/SF
NOI
$45.6K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /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%
$911,980
Cap Rate 7%
$651,414
Cap Rate 9%
$506,656
Alternative Uses
Best Use
Multifamily LT 5
$726.2K
$635.5K – $847.3K
NOI $50,837 @ 7.0% cap · market cap 9.24%
Second Best
Apartment 5plus
$651.4K
$570.0K – $760.0K
NOI $45,599 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,441 @ 7.0% cap · market cap 14.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,105
Businesses Nearby
Explore this area
Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
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?
Quadplex - Separate utilities support efficient operations across this four-unit residential property.
Where is this quadplex located?
The property is located at 360 Madison Ave Albany, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four‑unit residential property; 4464 square feet of building area; Fully renovated
