Fully Renovated Four-Unit
For Sale
$550,000
360 Madison Avenue, Albany, NY 12210
Turnkey quadplex with fully renovated interiors and separate utilities across four units.
Property Size4,464 SF
Price / SF$123.21
Days on Market157
Property Features for 360 Madison Avenue
General Information
Standard status
Active
Size
4,464 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
4
Building Details
Year Built
1887
Tenancy
Multi
Listing Agency:
Lincoln House Realty
Listed By:
John Alund
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Apr 11
Changed: Sep 13
Last Checked: Sep 14 at 7:29AM
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 fully renovated four-unit quadplex offers a turnkey setup designed for efficient operations. The property features separate utilities, supporting lower owner expenses, and it is currently configured to generate monthly rents totaling $5,425. With well-maintained conditions throughout, it presents a straightforward option for an income-focused buyer seeking a manageable multifamily asset.
The building is located near Albany’s hospitals, colleges, downtown employers, restaurants, and public transportation, positioning it within a strong demand area for rental housing.
The property has a total size of 4,464 square feet and is listed as 360 Madison Avenue, Albany, NY 12210. It can also be packaged with 211 Quail Street.
The building is located near Albany’s hospitals, colleges, downtown employers, restaurants, and public transportation, positioning it within a strong demand area for rental housing.
The property has a total size of 4,464 square feet and is listed as 360 Madison Avenue, Albany, NY 12210. It can also be packaged with 211 Quail Street.
Key Highlights
- Year built 1887 four‑unit (quadplex) with fully renovated, well‑maintained interiors
- Four units with monthly rents totaling $5,425
- Separate utilities for the units to help minimize owner expenses
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
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
51
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 - Turnkey quadplex with fully renovated interiors and separate utilities across four units.
Where is this quadplex located?
The property is located at 360 Madison Avenue 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: Year built 1887 four‑unit (quadplex) with fully renovated, well‑maintained interiors; Four units with monthly rents totaling $5,425; Separate utilities for the units to help minimize owner expenses
