Two-Story Mixed-Use
New
For Sale
$1,038,389
376-378 Delaware Avenue, Delmar, NY 12054
Commercial Sale, Delmar, NY
Property Size4,242 SF
Lot Size0.16 Acres
Price / SF$244.79
Days on Market3
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
Off Street, On 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
Active
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
Zoned, Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
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
Last Checked: Aug 27 at 4:06AM
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 approximately 4,242 square feet on a 0.16-acre lot. The first floor provides approximately 3,000 SF of retail space occupied by Perfect Blend since 2016, while the second floor includes a 1,242 SF two-bedroom apartment with a separate entrance and a residential tenant. A full basement provides additional retail storage.
The property includes rear parking governed by a formal shared-parking agreement, along with off-street and on-street parking. Building features include block, brick, and vinyl-siding construction; hardwood and tile flooring; central air; zoned forced-air natural gas heat; public water; and public sewer. The 1948 building also has a patio and high-speed internet.
The property includes rear parking governed by a formal shared-parking agreement, along with off-street and on-street parking. Building features include block, brick, and vinyl-siding construction; hardwood and tile flooring; central air; zoned forced-air natural gas heat; public water; and public sewer. The 1948 building also has a patio and high-speed internet.
Key Highlights
- Approximately 4,242 SF mixed‑use building on 0.16 acres
- Approximately 3,000 SF first‑floor retail area occupied by Perfect Blend since 2016
- 1,242 SF second‑floor two‑bedroom apartment with separate residential access
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
$51,204
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
4.93%
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%
$1,024,080
$1.0M
Cap Rate 7%
$731,486
$731.5K
Cap Rate 9%
$568,933
$568.9K
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
−$21.9K −$5.17/SF
NOI
$51.2K $12.07/SF
Area
Albany County, NY
Vacancy
4.20%
Lease Rate
$18.00 /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%
$1,024,080
Cap Rate 7%
$731,486
Cap Rate 9%
$568,933
Alternative Uses
Best Use
Retail
$731.5K
$640.1K – $853.4K
NOI $51,204 @ 7.0% cap · market cap 4.93%
Second Best
Mixed Use
$599.9K
$525.0K – $699.9K
NOI $41,996 @ 7.0% cap · market cap 4.04%
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
Property Profile
Current Use
Lease Details
100%
Occupancy
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
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 - Fully occupied property combines retail space with a separately accessed residential unit and 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: Approximately 4,242 SF mixed‑use building on 0.16 acres; Approximately 3,000 SF first‑floor retail area occupied by Perfect Blend since 2016; 1,242 SF second‑floor two‑bedroom apartment with separate residential access
