5-Unit Apartment
For Sale
$700,000
552 Madison Ave, Albany, NY 12208
Two-story property with a mix of one- and two-bedroom apartments near Washington Park and Albany Medical Center.
Property Size4,608 SF
Price / SF$151.91
Days on Market32
Property Features for 552 Madison Ave
General Information
Standard status
Active
Size
4,608 SF
Property subtype
Residential Income
Units
Unit Mix
3 x 1BD/1BA, 2 x 2BD/1BA
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$8,780
Building Details
Stories
2
Listing Agency:
New Scotland Realty
(603) 209-1976
Listed By:
Samantha M Curry · License #10491209794
(603) 209-1976
Source:
Exprealty
Added: Jul 14
Changed: Aug 11
Last Checked: Aug 13 at 10:44AM
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 New Scotland Realty
Investment Insights
Based on property information with market context.
This two-story apartment building contains five units: three with one bedroom and one bathroom, plus two with two bedrooms and one bathroom. The property totals 4,608 square feet, with one apartment currently occupied and four positioned for cosmetic renovation. Interior and exterior character includes hardwood flooring, original moldings, custom doors, and a brick facade.
The building occupies the corner of New Scotland and Madison Avenue, directly across from Washington Park and Albany Medical Center. A floor plan is included in the property documents. The offering can also be combined with 558 Madison Avenue, providing an option to acquire both properties as a package.
The building occupies the corner of New Scotland and Madison Avenue, directly across from Washington Park and Albany Medical Center. A floor plan is included in the property documents. The offering can also be combined with 558 Madison Avenue, providing an option to acquire both properties as a package.
Key Highlights
- Five‑unit apartment building totaling 4,608 square feet
- Unit mix includes three 1BD/1BA apartments and two 2BD/1BA apartments
- One unit occupied; four units positioned for cosmetic renovations
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
$47,070
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
6.72%
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%
$941,400
$941.4K
Cap Rate 7%
$672,429
$672.4K
Cap Rate 9%
$523,000
$523.0K
Market Conditions
NOI Build-Up for 4,608 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
$91.2K $19.80/SF
− Vacancy
−$5.7K −$1.23/SF
EGI
$85.6K $18.57/SF
− OpEx
−$38.5K −$8.36/SF
NOI
$47.1K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$941,400
Cap Rate 7%
$672,429
Cap Rate 9%
$523,000
Alternative Uses
Best Use
Apartment 5plus
$672.4K
$588.4K – $784.5K
NOI $47,070 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,101 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
3,701
Businesses Nearby
Explore this area
Business Placement
Demographics for 12208, NY
22,118
Population
11,522
Households
1.9
Avg Household Size
34
Median Age
56%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
5,027
Density / Sq Mi
$69,505
Median Household Income
$39,268
Median Earnings
$1,291
Median Rent
$255,300
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?
Apartment building - Two-story property with a mix of one- and two-bedroom apartments near Washington Park and Albany Medical Center.
Where is this apartment building located?
The property is located at 552 Madison Ave Albany, NY.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Five‑unit apartment building totaling 4,608 square feet; Unit mix includes three 1BD/1BA apartments and two 2BD/1BA apartments; One unit occupied; four units positioned for cosmetic renovations
