Mixed-Use Building with Four
40 River Street, Troy, NY 12180
For Sale
$824,900
MultiFamily, Troy, NY
Property Size5,029 SF
Lot Size0.22 Acres
Price / SF$164.03
Days on Market93
Property Features for 40 River Street
General Information
Property type
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Zoning
Bedrooms
Bathrooms
Full bathrooms
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Parking
Parking features
Basement
Accessibility
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Individually Metered Utilities
Taxes and HOA fees
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Building Details
Year built
Number of units
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Buildings
Listing Agency:
Gucciardo Real Estate Group LLC
(518) 221-9079
Listed By:
Pavel Karakalchu · License #10401307281
(518) 728-6305
Added: Aug 6
Changed: Oct 27
Last Checked: Nov 6 at 9:06PM
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.
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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 / Yr
$61,043
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,220,860
$1.2M
Cap Rate 7%
$872,043
$872.0K
Cap Rate 9%
$678,256
$678.3K
Market Conditions
NOI Build-Up for 5,029 SF
Gross rent
$117.1K $23.28/SF
− Vacancy
−$6.1K −$1.21/SF
EGI
$111.0K $22.07/SF
− OpEx
−$49.9K −$9.93/SF
NOI
$61.0K $12.14/SF
Area
Rensselaer County, NY
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,220,860
Cap Rate 7%
$872,043
Cap Rate 9%
$678,256
Alternative Uses
Best Use
Specialty Retail
$1.11M
$975.6K – $1.30M
NOI $78,048 @ 7.0% cap · market cap 9.46%
Second Best
Apartment 5plus
$872.0K
$763.0K – $1.02M
NOI $61,043 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,002 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,713
Businesses Nearby
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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
$233,000
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Troy, NY
Properties on Market for Mixed-use properties in Troy
Vacancy Rate% for Multifamily in Northeast region
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 $824,900.
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
