Downtown Mixed-Use Brick
For Sale
$839,900
40 River Street, Troy, NY 12180
Four leased apartments accompany an established first-floor restaurant with separate utilities and off-street parking.
Property Size5,029 SF
Price / SF$167.01
Days on Market9
Property Features for 40 River Street
General Information
Standard status
Active
Size
5,029 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Utilities to Site
Yes
Amenities
off street parking
separate utilities
Other
Customized Wheelchair Accessible
Building Details
Year Built
1910
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Gucciardo Real Estate Group LLC
Listed By:
Pavel Karakalchu
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Aug 3
Changed: Aug 11
Last Checked: Aug 11 at 9:53AM
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 Gucciardo Real Estate Group LLC
Investment Insights
Based on property information with market context.
Located at 40 River Street in Downtown Troy, this 5,029-square-foot mixed-use building combines four residential apartments with a first-floor retail restaurant. The residential component includes two one-bedroom, one-bath apartments, one two-bedroom, one-bath apartment, and one two-bedroom, two-bath apartment.
All four apartments are leased. Separate utilities, off-street parking, and solid brick construction support straightforward property operations, while the building’s 1910 construction and updated condition add established physical character.
All four apartments are leased. Separate utilities, off-street parking, and solid brick construction support straightforward property operations, while the building’s 1910 construction and updated condition add established physical character.
Key Highlights
- 5,029‑square‑foot mixed‑use building at 40 River Street in Downtown Troy
- Four residential units: two 1‑bedroom/1‑bath, one 2‑bedroom/1‑bath, and one 2‑bedroom/2‑bath apartment
- First‑floor retail restaurant space
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
$65,040
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
7.74%
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%
$1,300,800
$1.3M
Cap Rate 7%
$929,143
$929.1K
Cap Rate 9%
$722,667
$722.7K
Market Conditions
NOI Build-Up for 5,029 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
$90.5K $18.00/SF
− Vacancy
−$3.8K −$0.76/SF
EGI
$86.7K $17.24/SF
− OpEx
−$21.7K −$4.31/SF
NOI
$65.0K $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%
$1,300,800
Cap Rate 7%
$929,143
Cap Rate 9%
$722,667
Alternative Uses
Best Use
Specialty Retail
$929.1K
$813.0K – $1.08M
NOI $65,040 @ 7.0% cap · market cap 7.74%
Second Best
Multifamily LT 5
$829.5K
$725.9K – $967.8K
NOI $58,068 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,849 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,713
Businesses Nearby
Explore this area
Business Placement
Demographics for 12180, NY
55,907
Population
25,527
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
90%
High-School Grad
56.2 sq mi
ZIP Area
995
Density / Sq Mi
$73,767
Median Household Income
$41,787
Median Earnings
$1,188
Median Rent
$233,000
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?
Mixed-use property - Four leased apartments accompany an established first-floor restaurant with separate utilities and off-street parking.
Where is this mixed-use property located?
The property is located at 40 River Street Troy, NY.
What is the asking price?
The asking price for this property is $839,900.
What are key features of this property?
This property features: 5,029‑square‑foot mixed‑use building at 40 River Street in Downtown Troy; Four residential units: two 1‑bedroom/1‑bath, one 2‑bedroom/1‑bath, and one 2‑bedroom/2‑bath apartment; First‑floor retail restaurant space
