Occupied Mixed-Use
For Sale
$1,038,389
Pending
376-378 Delaware Avenue, Delmar, NY 12054
Commercial Sale, Delmar, NY
Property Size4,242 SF
Lot Size0.16 Acres
Days on Market25
Property Features for 376-378 Delaware Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bathroom 1
Parking
25
Parking features
On Street, Off Street
Patio and Porch features
Patio
Interior features
High Speed Internet, Paddle Fan, Cathedral Ceiling(s), Ceramic Tile Bath, Crown Molding
Basement
Full
Lot features
Private, Level, Cleared
Elementary school
Elsmere
High school
Bethlehem Central
Elementary school district
Bethlehem
Middle school district
Bethlehem
High school district
Bethlehem
Directions
Intersection of NY 443 and NY 140 Delmar NY
Standard status
Pending
APN
012200 85.16-4-3
Size
4,242 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
9391
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Zoned
Cooling system
Central Air
Water source
Public
Amenities
rear parking with formal shared-parking agreement
full basement used for retail storage
separate residential access
Building Details
Year built
1948
Floors in Building
2
Flooring type
Hardwood, Tile
Building materials
Block, Brick, Vinyl Siding
Architectural style
Other
Listing Agency:
Howard Hanna Capital Inc
(518) 489-1000
Listed By:
Charles Curto · License #10301206236
(518) 669-4356
Added: Aug 25
Changed: Sep 11
Last Checked: Sep 18 at 3:06PM
MLS# 202624754
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 376-378 Delaware Avenue in Delmar, this two-story mixed-use property contains 4,242 square feet on a 0.16-acre parcel. The first floor provides approximately 3,000 square feet of retail space occupied by Perfect Blend, which has operated at the property since 2016. A 1,242-square-foot two-bedroom apartment occupies the second floor and has separate residential access.
The property is positioned along Delaware Avenue in Delmar’s Four Corners area, within a walkable Main Street-style setting surrounded by retail, commercial, and residential uses. Rear parking is supported by a formal shared-parking agreement, with additional off-street and on-street parking noted. A full basement provides retail storage. The property also includes a patio, public water and sewer, forced-air natural-gas heating with zoned control, and central air. Built in 1948, the building carries Hamlet zoning.
The property is positioned along Delaware Avenue in Delmar’s Four Corners area, within a walkable Main Street-style setting surrounded by retail, commercial, and residential uses. Rear parking is supported by a formal shared-parking agreement, with additional off-street and on-street parking noted. A full basement provides retail storage. The property also includes a patio, public water and sewer, forced-air natural-gas heating with zoned control, and central air. Built in 1948, the building carries Hamlet zoning.
Key Highlights
- 4,242 SF two‑story mixed‑use building on 0.16 acres
- Approximately 3,000 SF of first‑floor retail space
- 1,242 SF second‑floor two‑bedroom apartment
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
$54,862
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
5.28%
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%
$1,097,240
$1.1M
Cap Rate 7%
$783,743
$783.7K
Cap Rate 9%
$609,578
$609.6K
Market Conditions
NOI Build-Up for 4,242 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
$76.4K $18.00/SF
− Vacancy
−$3.2K −$0.76/SF
EGI
$73.1K $17.24/SF
− OpEx
−$18.3K −$4.31/SF
NOI
$54.9K $12.93/SF
Area
Albany County, NY
Vacancy
4.20%
Lease Rate
$18.00 /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%
$1,097,240
Cap Rate 7%
$783,743
Cap Rate 9%
$609,578
Alternative Uses
Best Use
Specialty Retail
$783.7K
$685.8K – $914.4K
NOI $54,862 @ 7.0% cap · market cap 5.28%
Second Best
Retail
$731.5K
$640.1K – $853.4K
NOI $51,204 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,658 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
4,523 visits/mo
0.4 miles
KeyBank
Shops & Services
4,121 visits/mo
0.1 miles
Demographics for 12054, NY
17,282
Population
7,221
Households
2.4
Avg Household Size
46
Median Age
68%
College-Educated
98%
High-School Grad
15.5 sq mi
ZIP Area
1,115
Density / Sq Mi
$128,684
Median Household Income
$69,853
Median Earnings
$1,658
Median Rent
$334,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story building combines street-level retail with a separate residential apartment and shared rear parking.
Where is this mixed-use property located?
The property is located at 376-378 Delaware Avenue Delmar, NY.
What is the asking price?
The asking price for this property is $1,038,389.
What are key features of this property?
This property features: 4,242 SF two‑story mixed‑use building on 0.16 acres; Approximately 3,000 SF of first‑floor retail space; 1,242 SF second‑floor two‑bedroom apartment
