12-Unit Apartment
For Sale
$2,400,000
462-470 2ND Avenue, Troy, NY 12182
The property combines detailed interior finishes with garden and open-space areas around the buildings.
Property Size7,885 SF
Price / SF$304.38
Days on Market23
Property Features for 462-470 2ND Avenue
General Information
Standard status
Active
Size
7,885 SF
Property subtype
Multi-family
Additional Details
Cap Rate
7%
Highway Access
Yes
Multifamily Units
12
Building Details
Year Built
1890
Listing Agency:
Howard Hanna Capital Inc
Listed By:
Joseph P Cardinale · License #10401290174
(518) 755-2064
Source:
Signatureonerealtygroup
Added: Sep 18
Changed: Oct 7
Last Checked: Oct 10 at 1:15AM
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
Built in 1890, this 7,885-square-foot apartment property contains 12 units. Interior details include woodwork, exposed brick, and upgraded fixtures and finishes. Garden areas and open space surround the buildings.
The property occupies a corner across from Stewart's and CVS. Cohoes is accessible via the 112th Street bridge, with downtown Troy, I-787, and Route 7 also nearby. The reported current cap rate is 7%.
The property occupies a corner across from Stewart's and CVS. Cohoes is accessible via the 112th Street bridge, with downtown Troy, I-787, and Route 7 also nearby. The reported current cap rate is 7%.
Key Highlights
- 12 apartments across 7,885 square feet
- Built in 1890
- Interiors feature woodwork, exposed brick, fixtures, and finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,710
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,914,200
$1.9M
Cap Rate 7%
$1,367,286
$1.4M
Cap Rate 9%
$1,063,444
$1.1M
Market Conditions
NOI Build-Up for 7,885 SF
Gross rent
$183.6K $23.28/SF
− Vacancy
−$9.5K −$1.21/SF
EGI
$174.0K $22.07/SF
− OpEx
−$78.3K −$9.93/SF
NOI
$95.7K $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%
$1,914,200
Cap Rate 7%
$1,367,286
Cap Rate 9%
$1,063,444
Alternative Uses
Best Use
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $95,710 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,979 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 12182, NY
14,657
Population
7,314
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
1,070
Density / Sq Mi
$54,663
Median Household Income
$47,077
Median Earnings
$1,012
Median Rent
$195,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - The property combines detailed interior finishes with garden and open-space areas around the buildings.
Where is this apartment building located?
The property is located at 462-470 2ND Avenue Troy, NY.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 12 apartments across 7,885 square feet; Built in 1890; Interiors feature woodwork, exposed brick, fixtures, and finishes
