Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    453 2nd Ave Troy, NY

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Retail property with long-term tenant in Troy, NY.

    Type:RETAIL
    Property size:
    10,125 SF
    Lot size:
    1.53 Acres
    Price / SF:
    $315/SF
    Added:
    Aug 22, 2025
    Days on Market:
    248
    Last Refresh:
    Apr 5 at 9:32 pm

    Property Features for 453 2nd Ave

    General Information

    Standard status
    Active
    Size
    10,125 SF
    Lot size
    1.53 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Dylan Schroeder
    Dylan Schroeder

    Listing agent Dylan Schroeder

    Listing office Matthews Real Estate Investment Services | Fort Lauderdale

    Listing date Aug 22, 2025

    Source Moodyscre

    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 Matthews Real Estate Investment Services | Fort Lauderdale

    Overview

    Troy Retail Property For Sale

    The retail property, with a size of 10125 square feet, is located in Troy, NY. The property is occupied by CVS, which has been operating at this location since 2004. CVS recently renewed its lease at this site. Landlord responsibilities are limited to the roof and structure.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Drug stores

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Lindsay Drug Co — 416 5th Ave, Troy, NY 12182
    • Kathleen Bonnier — 416 5th Ave, Troy, NY 121823007
    • Mary Lettko — 416 5th Ave, Troy, NY 121823007
    • Thomas Patricelli — 416 5th Ave, Troy, NY 121823045
    • Mary Beth Poland — 416 5th Ave, Troy, NY 121823007

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Albany
    State
    New York
    Longitude
    -73.6796
    Latitude
    42.7705

    Nearby Similar for Sale

    • $599,000
      6,381 SF

      Established Restaurant with Development Potential

      Turnkey restaurant with mixed-use zoning and expansion possibilities.
      572 2nd Avenue, Troy, NY 12182
      View Details
    • $695,000
      7,161 SF

      Established Restaurant with Parking Lot

      Turnkey restaurant opportunity with equipment, fixtures, and additional parking.
      853 4th Avenue, Troy, NY 12182
      View Details
    • $1,500,000
      1,636 SF

      Troy Car Wash For Sale

      Updated car wash with growth potential in revitalizing Troy, NY.
      690-696 River Street, Troy, NY 12180
      View Details
    • $499,000
      2,836 SF

      Troy, NY Multi-Family Property

      Three-unit property near campus with income potential and parking.
      65 13th Street, Troy, NY 12180
      View Details
    • $1,500,000

      Troy Car Wash For Sale

      Revitalized car wash with high-end equipment and income potential.
      690-696 River Street, Troy, NY 12180
      View Details
    • $2,400,000
      7,885 SF

      Meticulously Maintained 12-Unit Apartment Building

      Rare opportunity: meticulously maintained 12-unit apartment building in Troy.
      462-470 2nd Avenue, Troy, NY 12182
      View Details
    • $550,000

      Retail Plaza with Liquor License

      Retail plaza with two storefronts and active liquor license.
      501 Campbell Ave, Troy, NY 12180
      View Details
    • $334,900
      2,688 SF

      Remodeled Two-Family Home in Troy

      Rejuvenated two-family home with modern amenities and investment potential.
      169 Hoosick Street, Troy, NY 12180
      View Details
    • $369,000

      Downtown Troy High Visibility Location

      High-visibility commercial property in downtown Troy with recent improvements.
      58-62 King Street, Troy, NY 12180
      View Details
    • $1,650,000
      16,761 SF

      Multifamily Portfolio in South Troy

      17-unit multifamily portfolio with development potential in South Troy.
      38 Tyler Street, Troy, NY 12180
      View Details
    • $579,000
      4,128 SF

      Troy Multifamily Investment Opportunity

      Fully occupied four-unit property with updates and historic charm.
      318 1st Street, Troy, NY 12180
      View Details
    • $674,900
      2,840 SF

      Troy Mixed-Use Investment Opportunity

      Four-unit property with renovated apartments and a restaurant.
      6 Franklin Place, Troy, NY 12180
      View Details

    FAQs

    What type of property is this?
    Drug store - Retail property with long-term tenant in Troy, NY.
    Where is this drug store located?
    The property is located at 453 2nd Ave Troy, NY.
    What is the asking price?
    The asking price for this property is $3,193,000.
    What are key features of this property?
    This property features: CVS recently renewed its lease, showing a strong commitment.; CVS has been operating here since 2004, indicating a successful long‑term presence.; Landlord responsibilities are limited to the roof and structure, offering passive ownership.
    (954) 288-3678 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Dylan Schroeder
    Dylan Schroeder
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!