For Sale
$440,000
536 N Pearl, Menands, NY 12204
Residential Income, Menands, NY
Property Size2,384 SF
Lot Size0.17 Acres
Price / SF$184.56
Days on Market8
Property Features for 536 N Pearl
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 7, Bedroom 4, Bedroom 9, Bedroom 6, Bathroom 3, Bedroom 8, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
Interior features
Entrance Foyer
Subdivision
North Albany - Shaker Park
Standard status
Active
APN
010100 65.36-1-17
Size
2,384 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5693
Utilities
Heating system
Baseboard, Electric (Heating)
Water source
Public
Building Details
Year built
1882
Floors in Building
3
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Rubber
Listing Agency:
ANCHOR REALTY SERVICES LLC
(518) 330-6340
Listed By:
Thomas J Chenaille
(518) 330-6340
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 31 at 7:06AM
MLS# 11948853
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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
$27,150
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
6.17%
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%
$543,000
$543.0K
Cap Rate 7%
$387,857
$387.9K
Cap Rate 9%
$301,667
$301.7K
Market Conditions
NOI Build-Up for 2,384 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
$41.5K $17.40/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$38.8K $16.27/SF
− OpEx
−$11.6K −$4.88/SF
NOI
$27.1K $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 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%
$543,000
Cap Rate 7%
$387,857
Cap Rate 9%
$301,667
Alternative Uses
Best Use
Multifamily LT 5
$387.9K
$339.4K – $452.5K
NOI $27,150 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$347.9K
$304.4K – $405.9K
NOI $24,352 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$629.0K
$550.4K – $733.8K
NOI $44,028 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Explore this area
Business Placement
Demographics for 12204, NY
7,818
Population
4,290
Households
1.8
Avg Household Size
37
Median Age
39%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
1,907
Density / Sq Mi
$75,197
Median Household Income
$48,911
Median Earnings
$1,294
Median Rent
$226,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
Where is this triplex located?
The property is located at 536 N Pearl Menands, NY.
What is the asking price?
The asking price for this property is $440,000.
