New Scotland Avenue
4 New Scotland Avenue Albany, NY
4 New Scotland Avenue, Albany, NY, 00000
$595,000
For Sale
$595,000
Three-family property and two lots near Albany Medical Center.
Property Size1,680 SF
Price / SF$354.17
Days on Market297
Property Features for 4 New Scotland Avenue
General Information
- Standard status
- Active
- Size
- 1,680 SF
- Property subtype
- Multi Family
Listing Agency
Pyramidbrokerage
(518) 489-9199
Listed by
Pyramid Brokerage Albany
(518) 489-9199
Source
Pyramidbrokerage
Added: Sep 25, 2025 Checked: Jul 17 at 2:16 am
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 Pyramidbrokerage
Investment Insights
Based on property information with market context.
Located near Albany Medical Center and Washington Park, this property features a three-family residence and two lots. The site is positioned near the hospital's expansion, a new YMCA, CVS, Chipotle, and Panera Bread. With 365 new apartments across the street, this property presents a unique opportunity for residential or commercial use. Off-street parking is available. The property size is 1680 square feet.
Key Highlights
- Prime location next to Albany Medical Center and its billion‑dollar expansion.
- Two lots included, offering development potential.
- Proximity to new YMCA, CVS, Chipotle, and Panera.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.2k | $17.40 |
| − Vacancy | −$1.9k | −$1.13 |
| EGI | $27.3k | $16.27 |
| − OpEx | −$8.2k | −$4.88 |
| NOI | $19.1k | $11.39 |
1,680 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$273.3K
$239.2K – $318.9K
NOI $19,132 @ 7.0% cap · market cap 3.22%
Second Best
Apartment 5plus
$245.2K
$214.5K – $286.0K
NOI $17,161 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$443.2K
$387.8K – $517.1K
NOI $31,026 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-family property and two lots near Albany Medical Center.
Where is this triplex located?
The property is located at 4 New Scotland Avenue Albany, NY.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Prime location next to Albany Medical Center and its billion‑dollar expansion.; Two lots included, offering development potential.; Proximity to new YMCA, CVS, Chipotle, and Panera.
