Triplex with Detached
New
For Sale
$319,900
50 Park Avenue, Albany, NY 12202
Two units are occupied, and the basement unit is expected to be vacant at closing.
Property Size2,388 SF
Price / SF$133.96
Days on Market7
Property Features for 50 Park Avenue
General Information
Standard status
Active
Size
2,388 SF
Total Parking Spaces
2
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Building Details
Year Built
1865
Listing Agency:
Armida Rose Realty Group
Listed By:
Charley Q Pollard
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Sep 29
Changed: Oct 4
Last Checked: Oct 4 at 9:59AM
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 Armida Rose Realty Group
Investment Insights
Based on property information with market context.
At 50 Park Ave, this 2,388-square-foot triplex was built in 1865. Two units are occupied, while the basement unit is expected to be vacant at closing. A detached garage provides two parking spaces.
The property is near Lincoln Park, the Empire State Plaza, downtown Albany, restaurants, shopping, and major commuter routes.
The property is near Lincoln Park, the Empire State Plaza, downtown Albany, restaurants, shopping, and major commuter routes.
Key Highlights
- Three‑unit property with a 2,388‑square‑foot building
- Two units are occupied; basement unit expected to be vacant at closing
- Detached garage with two garage spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,195
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$543,900
$543.9K
Cap Rate 7%
$388,500
$388.5K
Cap Rate 9%
$302,167
$302.2K
Market Conditions
NOI Build-Up for 2,388 SF
Gross rent
$41.6K $17.40/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$38.9K $16.27/SF
− OpEx
−$11.7K −$4.88/SF
NOI
$27.2K $11.39/SF
Area
Albany, NY
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$543,900
Cap Rate 7%
$388,500
Cap Rate 9%
$302,167
Alternative Uses
Best Use
Multifamily LT 5
$388.5K
$339.9K – $453.3K
NOI $27,195 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$348.5K
$304.9K – $406.6K
NOI $24,393 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$630.0K
$551.3K – $735.0K
NOI $44,102 @ 7.0% cap · market cap 13.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,175
Businesses Nearby
Explore this area
Business Placement
Demographics for 12202, NY
10,257
Population
5,434
Households
1.9
Avg Household Size
34
Median Age
33%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
5,129
Density / Sq Mi
$49,684
Median Household Income
$34,656
Median Earnings
$1,012
Median Rent
$139,800
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?
Triplex - Two units are occupied, and the basement unit is expected to be vacant at closing.
Where is this triplex located?
The property is located at 50 Park Avenue Albany, NY.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: Three‑unit property with a 2,388‑square‑foot building; Two units are occupied; basement unit expected to be vacant at closing; Detached garage with two garage spaces
