Brick Quadplex With
For Sale
$400,000
Pending
4-209 Columbia Tpke, Rensselaer, NY 12144
Four-unit income property along a high-traffic corridor with separate electric meters.
Property Size2,640 SF
Days on Market259
Property Features for 4-209 Columbia Tpke
General Information
Standard status
Pending
Size
2,640 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,644
Amenities
hardwood floors
enclosed back porch
Building Details
Construction
brick
Listing Agency:
Howard Hanna Capital Inc
(518) 371-4500
Listed By:
Joyce Brown · License #40BR1150323
(518) 596-5835
Source:
Exprealty
Added: Dec 18, 2025
Changed: Sep 2
Last Checked: Sep 1 at 9:39PM
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 2,640-square-foot brick quadplex includes four apartments, with three currently rented. The largest residence measures approximately 1,300 square feet and includes hardwood floors and an enclosed back porch. The property also features Window World windows, an 11-year-old furnace, separate electric meters, and a cleared rear lot. A large parking area serves the right side of the property and the area outside the garage.
The building is positioned along a high-traffic corridor in East Greenbush, with access to Albany, the train station, major highways, restaurants, and bus lines. Its location, four-unit configuration, and partially leased status provide a clear operating profile for review.
The property has remained under family ownership for decades. Three apartments are occupied, while the largest unit offers approximately 1,300 square feet of residential space.
The building is positioned along a high-traffic corridor in East Greenbush, with access to Albany, the train station, major highways, restaurants, and bus lines. Its location, four-unit configuration, and partially leased status provide a clear operating profile for review.
The property has remained under family ownership for decades. Three apartments are occupied, while the largest unit offers approximately 1,300 square feet of residential space.
Key Highlights
- Four‑unit brick property with 2,640 square feet
- Three units are currently rented
- Largest apartment is approximately 1,300 sq ft
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
$34,578
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
8.64%
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%
$691,560
$691.6K
Cap Rate 7%
$493,971
$494.0K
Cap Rate 9%
$384,200
$384.2K
Market Conditions
NOI Build-Up for 2,640 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
$52.3K $19.80/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$49.4K $18.71/SF
− OpEx
−$14.8K −$5.61/SF
NOI
$34.6K $13.10/SF
Area
Rensselaer County, NY
Vacancy
5.50%
Lease Rate
$19.80 /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%
$691,560
Cap Rate 7%
$493,971
Cap Rate 9%
$384,200
Alternative Uses
Best Use
Multifamily LT 5
$494.0K
$432.2K – $576.3K
NOI $34,578 @ 7.0% cap · market cap 8.64%
Second Best
Apartment 5plus
$457.8K
$400.6K – $534.1K
NOI $32,045 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$660.0K
$577.5K – $770.0K
NOI $46,197 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Explore this area
Business Placement
Demographics for 12144, NY
21,277
Population
10,474
Households
2
Avg Household Size
40
Median Age
38%
College-Educated
93%
High-School Grad
18.3 sq mi
ZIP Area
1,163
Density / Sq Mi
$88,357
Median Household Income
$51,893
Median Earnings
$1,379
Median Rent
$235,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit income property along a high-traffic corridor with separate electric meters.
Where is this quadplex located?
The property is located at 4-209 Columbia Tpke Rensselaer, NY.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Four‑unit brick property with 2,640 square feet; Three units are currently rented; Largest apartment is approximately 1,300 sq ft
