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Multifamily Property in Scotia Manor

49 Mohawk Avenue, Scotia, NY 12302

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For Sale

$8,500,000

51-unit multifamily property in Glenville, New York.

Type:Multifamily

Property size:

61,120 SF

Price / SF:

$139/SF

HighLights

Full occupancy indicates high demand for rental units.
Opportunity for NOI growth through modest operating adjustments (e.g., charging for parking).
Below market rental rates by approximately 15%.
Located in the walkable Village of Scotia, known for parks and an active waterfront, with access to local amenities, restaurants, and services.
Property consists of 51 units: 36 two‑bedroom/one‑bath units and 15 one‑bedroom/one‑bath units.
Proximity to Glenville and Schenectady provides a continuous source of potential residents.

We can help!

Contact an agent

Tom Savino

For Sale

$8,500,000

51-unit multifamily property in Glenville, New York.

Type:Multifamily

Property size:

61,120 SF

Price / SF:

$139/SF

Added:: Mar 25, 2026
Days on Market:: 104
Last Refresh:: Mar 16 at 10:24 am

Property Features for 49 Mohawk Avenue

General Information

Standard status: Active
Size: 61,120 SF
Property subtype: Multifamily

We can help!

Contact an agent

Tom Savino

Listing office CBRE - Albany

Listing date Mar 25, 2026

Source Cbre

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

HighLights

Full occupancy indicates high demand for rental units.
Opportunity for NOI growth through modest operating adjustments (e.g., charging for parking).
Below market rental rates by approximately 15%.
Located in the walkable Village of Scotia, known for parks and an active waterfront, with access to local amenities, restaurants, and services.
Property consists of 51 units: 36 two‑bedroom/one‑bath units and 15 one‑bedroom/one‑bath units.
Proximity to Glenville and Schenectady provides a continuous source of potential residents.

Overview

Scotia Manor is a three-story multifamily property featuring 51 units located in Glenville, New York. Situated in the Village of Scotia, which is part of the Town of Glenville, the property is connected to the City of Schenectady via the Western Gateway Bridge over the Mohawk River. The Village of Scotia is known for its parks and waterfront, offering walkability and local amenities. Mohawk Avenue, the main street through the Village, has experienced a resurgence. The property consists of 36 two-bedroom, one-bath units and 15 one-bedroom, one-bath units. The property has consistently experienced high leasing demand and full occupancy. Located at the intersection of Mohawk Avenue and S. Ballston Ave, Scotia Manor provides convenient access to various Village amenities, restaurants, and services. Its proximity to Glenville and its businesses offers a source of potential residents. The property presents opportunities for NOI growth through operating adjustments, such as charging for parking, which aligns with practices at competing properties.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$1.21M	$19.80
− Vacancy	−$75.0k	−$1.23
EGI	$1.14M	$18.57
− OpEx	−$510.8k	−$8.36
NOI	$624.3k	$10.21

61,120 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$8.92M

$7.80M – $10.41M (±1% cap)

NOI $624,330 @ 7.0% cap · market cap 7.35%

Second Best

—

no second resolved use

Theoretical Best

Office A

$18.29M

$16.01M – $21.34M (±1% cap)

NOI $1,280,586 @ 7.0% cap · market cap 15.07%

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

Property Profile Location Intelligence

Current Use by Public Records

Scotia Manor Apartment Complex

Suggested Use

Location Insight

Map
Local Demand

City: Scotia
County: Schenectady
State: New York
Longitude: -73.9615504
Latitude: 42.8247223

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For sale
Apartment buildings
NY
Scotia
12302
49 Mohawk Avenue

What type of property is this?

Apartment building - 51-unit multifamily property in Glenville, New York.

Where is this apartment building located?

The property is located at 49 Mohawk Avenue Scotia, NY.

What is the asking price?

The asking price for this property is $8,500,000.

What are key features of this property?

This property features: Full occupancy indicates high demand for rental units.; Opportunity for NOI growth through modest operating adjustments (e.g., charging for parking).; Below market rental rates by approximately 15%.