Fully Occupied Four-Unit
For Sale
$599,000
55 Ten Broeck Street, Albany, NY 12210
Built in 1860, this separately metered four-unit rowhouse offers a 2BD/2BA and 2BD/1BA mix.
Property Size2,544 SF
Price / SF$235.46
Days on Market101
Property Features for 55 Ten Broeck Street
General Information
Standard status
Active
Size
2,544 SF
Property subtype
Multi-family
Occupancy
100%
Financials
Cap Rate
6.92%
Business Included
Yes
Additional Details
Multifamily Units
4
Building Details
Year Built
1860
Tenancy
Multi
Listing Agency:
Empire Real Estate Firm LLC
Listed By:
Sage Baltrusaitis
(518) 639-4663
Source:
Signatureonerealtygroup
Added: May 31
Changed: Sep 7
Last Checked: Sep 7 at 11:59AM
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 Empire Real Estate Firm LLC
Investment Insights
Based on property information with market context.
Built in 1860, this 2½-story painted brick rowhouse is configured as a fully occupied four-unit multifamily property. The unit mix includes two above-grade 2BD/2BA apartments and two 2BD/1BA garden-level units. Units are separately metered, with tenants paying their own utilities. The property’s current gross income is $62,370 per year, and all four units have been turned over within the past five years.
Situated on a quiet residential block in the Ten Broeck Triangle area, the property is described as steps from downtown, the Capitol, and Albany Med.
With the reported flood risk designation of Zone X and taxes paid current, this four-unit residence presents a straightforward income-producing configuration with a split between above-grade and garden-level homes.
Situated on a quiet residential block in the Ten Broeck Triangle area, the property is described as steps from downtown, the Capitol, and Albany Med.
With the reported flood risk designation of Zone X and taxes paid current, this four-unit residence presents a straightforward income-producing configuration with a split between above-grade and garden-level homes.
Key Highlights
- Built in 1860, 4‑unit multifamily rowhouse in Ten Broeck Triangle, steps from downtown, the Capitol, and Albany Med
- Unit mix: two above‑grade 2BD/2BA units plus two 2BD/1BA garden‑level units
- Fully occupied; all four units reportedly turned over within the past five years
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
$28,972
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
4.84%
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%
$579,440
$579.4K
Cap Rate 7%
$413,886
$413.9K
Cap Rate 9%
$321,911
$321.9K
Market Conditions
NOI Build-Up for 2,544 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
$44.3K $17.40/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$41.4K $16.27/SF
− OpEx
−$12.4K −$4.88/SF
NOI
$29.0K $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%
$579,440
Cap Rate 7%
$413,886
Cap Rate 9%
$321,911
Alternative Uses
Best Use
Multifamily LT 5
$413.9K
$362.2K – $482.9K
NOI $28,972 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$371.2K
$324.8K – $433.1K
NOI $25,987 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$671.2K
$587.3K – $783.1K
NOI $46,983 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,082
Businesses Nearby
Explore this area
Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Built in 1860, this separately metered four-unit rowhouse offers a 2BD/2BA and 2BD/1BA mix.
Where is this quadplex located?
The property is located at 55 Ten Broeck Street Albany, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Built in 1860, 4‑unit multifamily rowhouse in Ten Broeck Triangle, steps from downtown, the Capitol, and Albany Med; Unit mix: two above‑grade 2BD/2BA units plus two 2BD/1BA garden‑level units; Fully occupied; all four units reportedly turned over within the past five years
