Auto Sales and Service
For Sale
$421,658
466 Hays Road, East Greenbush, NY 12144
Automotive property with an on-site residence and pole barn in East Greenbush.
Property Size3,172 SF
Price / SF$132.93
Days on Market91
Property Features for 466 Hays Road
General Information
Standard status
Active
Size
3,172 SF
Property subtype
SpecialPurpose
Building Details
Buildings
3
Listing Agency:
CBRE | Albany
(518) 424-4977
Listed By:
Ann MacAffer · License #Associate Real Estate Broker
(518) 424-4977
Source:
Cbre
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 30 at 4:22PM
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 CBRE | Albany
Investment Insights
Based on property information with market context.
This East Greenbush property includes a 3,172-square-foot building configured for automotive sales and service. The improvements also include a single-family home and a pole barn, creating a combination of commercial and residential structures on one parcel.
The property is located at 466 Hays Road in East Greenbush, NY 12144.
The property is located at 466 Hays Road in East Greenbush, NY 12144.
Key Highlights
- 3,172 SF building used for auto sales and service
- Single‑family home included on the property
- Pole barn included among the site improvements
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
$33,524
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
7.95%
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%
$670,480
$670.5K
Cap Rate 7%
$478,914
$478.9K
Cap Rate 9%
$372,489
$372.5K
Market Conditions
NOI Build-Up for 3,172 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
$51.4K $16.20/SF
− Vacancy
−$3.5K −$1.10/SF
EGI
$47.9K $15.10/SF
− OpEx
−$14.4K −$4.53/SF
NOI
$33.5K $10.57/SF
Area
Rensselaer County, NY
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$670,480
Cap Rate 7%
$478,914
Cap Rate 9%
$372,489
Alternative Uses
Best Use
Retail
$576.2K
$504.1K – $672.2K
NOI $40,331 @ 7.0% cap · market cap 9.56%
Second Best
Industrial
$478.9K
$419.1K – $558.7K
NOI $33,524 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$792.9K
$693.8K – $925.1K
NOI $55,506 @ 7.0% cap · market cap 13.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Reilly's Certified Collision — 465 Hays Rd, Rensselaer, NY 12144
- Twisted Synergy Motorsports — 466 Hays Rd, Rensselaer, NY 12144
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive property with an on-site residence and pole barn in East Greenbush.
Where is this auto shop located?
The property is located at 466 Hays Road East Greenbush, NY.
What is the asking price?
The asking price for this property is $421,658.
What are key features of this property?
This property features: 3,172 SF building used for auto sales and service; Single‑family home included on the property; Pole barn included among the site improvements
