Mixed-Use Building with Four
For Sale
$839,900
40 River Street, Troy, NY 12180
MultiFamily, Troy, NY
Property Size5,029 SF
Lot Size0.22 Acres
Price / SF$167.01
Days on Market48
Property Features for 40 River Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Mixed
Bedrooms
6
Bathrooms
6
Full bathrooms
5
Half bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 6, Bathroom 3, Bedroom 4, Bedroom 2, Bathroom 6, Bedroom 3, Bedroom 5, Bathroom 4, Bathroom 1, Bathroom 5, Bathroom 7
Parking
13
Parking features
Driveway
Basement
Unfinished, Full
Accessibility
Accessible Approach with Ramp
Elementary school district
Troy
Middle school district
Troy
High school district
Troy
Directions
Turn right onto 23rd St. Turn left onto 2nd Ave. Turn left onto NY-2 E (19th St) and continue. Take the River St exit. Continue onto River St.
Standard status
Active
APN
381700 100.76-5-14
Size
5,029 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Annual Amount
9130
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1910
Number of units
5
Building materials
Brick
Architectural style
Other
Listing Agency:
Gucciardo Real Estate Group LLC
(518) 221-9079
Listed By:
Pavel Karakalchu · License #10401307281
(518) 728-6305
Added: Aug 6
Changed: Sep 12
Last Checked: Sep 22 at 5:06PM
MLS# 202623448
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.
This 5,029-square-foot mixed-use property contains four residential apartments above or alongside a first-floor retail restaurant. The unit mix includes two one-bedroom, one-bath apartments, one two-bedroom, one-bath apartment, and one two-bedroom, two-bath apartment. All four residential units are leased. Built in 1910, the building has brick construction, separate utilities, electric and natural-gas heating, forced-air service, and public water and sewer. A driveway provides off-street parking, and the property includes an accessible approach with ramp.
The 0.22-acre property is located at 40 River Street in Downtown Troy, within Rensselaer County. Mixed zoning supports the property’s combined residential and commercial configuration. The first-floor restaurant and four-unit residential component create a single asset with both retail and multifamily uses.
The 0.22-acre property is located at 40 River Street in Downtown Troy, within Rensselaer County. Mixed zoning supports the property’s combined residential and commercial configuration. The first-floor restaurant and four-unit residential component create a single asset with both retail and multifamily uses.
Key Highlights
- Four residential units: two 1BR/1BA, one 2BR/1BA, and one 2BR/2BA
- All residential units are leased
- 5,029 SF mixed‑use building on 0.22 acres
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
Apartment 5plus
$767.4K
$671.5K – $895.3K
NOI $53,717 @ 7.0% cap · market cap 6.40%
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Mixed-use property - Brick construction combines leased residences with a first-floor restaurant.
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: Four residential units: two 1BR/1BA, one 2BR/1BA, and one 2BR/2BA; All residential units are leased; 5,029 SF mixed‑use building on 0.22 acres
