Mixed-Use Duplex
538 New Scotland Avenue Albany, NY 12208
538 New Scotland Avenue, Albany, NY, 12208
$289,900
For Sale
$289,900
MULTI_FAMILY - Ranch - Albany, NY
Property Size1,720 SF
Lot Size0.26 Acres
Price / SF$168.55
Days on Market50
Property Features for 538 New Scotland Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Zoning
- Mixed
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 2
- Parking
- 3
- Basement
- Full
- Standard status
- Active
- APN
- 75.25-1-17
- Size
- 1,720 SF
- Lot size
- 0.26 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6000
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1948
- Number of units
- 2
- Building materials
- Aluminum Siding
- Roof type
- Asphalt
- Architectural style
- Ranch
Listing Agency
RE/MAX Capital
(518) 724-6800
12 Wade Rd, Latham, NY
Listed by
Steve Duggan · License #40DU1087381
(518) 210-3290
Added: May 28 Checked: Jul 16 at 8:06 pm
MLS# 202618282
Listing URL
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property is currently configured with offices on the left side and a two-bedroom, one-bath apartment on the right. The building includes a full basement and separate utilities, which support the transition to a side-by-side two-family layout. With a total size of 1,720 square feet on a 0.26-acre lot, the opportunity is well-suited for buyers looking to re-purpose the existing structure rather than start from scratch.
The property is located at 538 New Scotland Avenue in Albany, positioned on a prime corner at the intersection of New Scotland and S. Main, per the provided remarks. Nearby daily-use amenities include hospitals, schools, restaurants, and shopping, offering convenient access for prospective occupants and tenants.
For buyers or owner-operators, the current split between office space and an apartment can streamline repositioning into a duplex format. The presence of a full basement and separate utilities also reduces operational complexity compared to properties that require extensive reworking of mechanical and utility systems to create independent living units.
The property is located at 538 New Scotland Avenue in Albany, positioned on a prime corner at the intersection of New Scotland and S. Main, per the provided remarks. Nearby daily-use amenities include hospitals, schools, restaurants, and shopping, offering convenient access for prospective occupants and tenants.
For buyers or owner-operators, the current split between office space and an apartment can streamline repositioning into a duplex format. The presence of a full basement and separate utilities also reduces operational complexity compared to properties that require extensive reworking of mechanical and utility systems to create independent living units.
Key Highlights
- Ranch‑style building built in 1948 with aluminum siding and an asphalt roof
- Currently set up as a mixed‑use property: offices on the left side and a 2‑bedroom, 1‑bath apartment on the right
- Full basement included
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.2k | $22.20 |
| − Vacancy | −$6.8k | −$3.95 |
| EGI | $31.4k | $18.25 |
| − OpEx | −$7.8k | −$4.56 |
| NOI | $23.5k | $13.69 |
1,720 SF · lease $22.20/SF/yr · vacancy 17.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$336.3K
$294.3K – $392.3K
NOI $23,540 @ 7.0% cap · market cap 8.12%
Second Best
Multifamily LT 5
$279.8K
$244.9K – $326.5K
NOI $19,588 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$453.8K
$397.1K – $529.4K
NOI $31,765 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Platt Richard MD
Physician
Rosalind W. Gumaer, ...
Family Counselor
Diana J. Rosen, ...
Foster Care Service
Krohmal Larry
Foster Care Service
Solutions A Brief Therapy ...
Foster Care Service
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FAQs
What type of property is this?
Duplex - Existing office space paired with a residential unit offers a straightforward path to a side-by-side two-family configuration.
Where is this duplex located?
The property is located at 538 New Scotland Avenue Albany, NY.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Ranch‑style building built in 1948 with aluminum siding and an asphalt roof; Currently set up as a mixed‑use property: offices on the left side and a 2‑bedroom, 1‑bath apartment on the right; Full basement included
