Updated Office
For Sale
$429,000
424 N Greenbush Road, Troy, NY 12144
Commercial Sale, Troy, NY
Property Size1,526 SF
Lot Size0.46 Acres
Price / SF$281.13
Days on Market53
Property Features for 424 N Greenbush Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed
Parking
8
Basement
Finished, Full
High school
Columbia
Elementary school district
East Greenbush
Middle school district
East Greenbush
High school district
East Greenbush
Directions
From EG, continue N on NY-4, property will be on your left.
Standard status
Active
APN
383200 134.13-1-7
Size
1,526 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Annual Amount
2676
Utilities
Sewer type
Septic Tank
Heating system
Baseboard, Ductless (Heating), Natural Gas
Cooling system
Ductless
Water source
Public
Building Details
Year built
1949
Building materials
Aluminum Siding
Roof type
Shingle, Asphalt
Listing Agency:
Venture Fox Realty Group LLC
(518) 290-1070
Listed By:
Erin Robilotta · License #10301223726
(518) 461-4710
Added: Jul 24
Changed: Sep 12
Last Checked: Sep 14 at 2:06PM
MLS# 202622533
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.
Located at 424 N Greenbush Road in Troy, this 1,526-square-foot office building was built in 1949 and updated for professional use. The layout includes four private offices, an administrative area, two bathrooms, a kitchen area, and a basement conference room. Aluminum siding, an asphalt shingle roof, baseboard and ductless heating, and ductless cooling are among the building features.
The sale includes the adjacent lot at 422 N Greenbush Road. The property information identifies 0.46 acres, Mixed zoning, public water, and a septic tank. The building and accompanying lot provide a defined office configuration with additional land included in the transaction.
The sale includes the adjacent lot at 422 N Greenbush Road. The property information identifies 0.46 acres, Mixed zoning, public water, and a septic tank. The building and accompanying lot provide a defined office configuration with additional land included in the transaction.
Key Highlights
- 1,526 SF office building with four private offices
- Administrative area, kitchen, two bathrooms, and basement conference room
- Updated professional office configuration
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
$23,568
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
5.49%
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%
$471,360
$471.4K
Cap Rate 7%
$336,686
$336.7K
Cap Rate 9%
$261,867
$261.9K
Market Conditions
NOI Build-Up for 1,526 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
$40.3K $26.40/SF
− Vacancy
−$8.9K −$5.81/SF
EGI
$31.4K $20.59/SF
− OpEx
−$7.9K −$5.15/SF
NOI
$23.6K $15.44/SF
Area
Albany County, NY
Vacancy
22.00%
Lease Rate
$26.40 /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%
$471,360
Cap Rate 7%
$336,686
Cap Rate 9%
$261,867
Alternative Uses
Best Use
Office B
$336.7K
$294.6K – $392.8K
NOI $23,568 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$476.2K
$416.7K – $555.6K
NOI $33,333 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
163
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Four private offices, support areas, and a basement conference room serve a professional workplace layout.
Where is this office building located?
The property is located at 424 N Greenbush Road Troy, NY.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: 1,526 SF office building with four private offices; Administrative area, kitchen, two bathrooms, and basement conference room; Updated professional office configuration
