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    Downtown Retail Building Opportunity Title is generated by Realmo AI

    58-62 King Street, Troy, NY 12180

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    For Sale
    $350,000

    Commercial - Troy, NY

    Lot size:
    0.08 Acres
    Added:
    Oct 24, 2025
    Days on Market:
    224
    Last Refresh:
    Jun 4 at 6:06 am

    Property Features for 58-62 King Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Rooms
    Basement, Kitchen
    Parking features
    Garage
    Basement Y/N
    1
    Standard status
    Active
    APN
    381700 101.38-9-17
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Annual Amount
    5514

    Utilities

    Heating system
    Forced Air, Oil

    Building Details

    Year built
    1905
    Year renovated
    1905
    Floors in Building
    1
    Building materials
    Brick
    Roof type
    Flat, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Kelly Roach

    Listing agent Kelly Roach

    Listing office Miranda Real Estate Group Inc 1482 Rt 9, Clifton Park, NY

    Listing date Oct 24, 2025

    MLS# 11596168 Listing URL

    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.

    HighLights

    • High visibility location in the heart of downtown Troy with 49 feet of road frontage.
    • Recent improvements including a brand new roof (MAY 2024), updated plumbing, and updated electrical systems.
    • Open floor plan ready for business build‑out.
    • Excellent foot and vehicle traffic.
    • Surrounded by restaurants, shops, and new developments.
    • Brick construction with a basement.

    Overview

    This downtown retail building offers a flexible, open floor plan well suited for a variety of retail or service concepts. The space is already partially improved for occupancy, with framed-out bathrooms and recent updates that include a brand-new roof (May 2024), updated plumbing, and updated electrical systems. With the existing interior layout ready to be finished, it provides a practical foundation for bringing a new business plan to life.

    The property is positioned on King Street in the heart of downtown Troy, NY, with 49 feet of road frontage to support visibility from the roadway. Public remarks also indicate excellent foot and vehicle traffic, surrounded by restaurants, shops, and new developments.

    For buyers and operators looking for a turn-ready retail location, the combination of a high-visibility site and recent infrastructure updates can help reduce early project uncertainty. The open configuration and bathroom framing make it especially appealing for tenants seeking a straightforward build-out approach, whether for a retail storefront or a customer-focused service use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Gallo Troy Florist — 24 4th St, Troy, NY 12180
    • Flower World — 83 3rd St, Troy, NY 12180

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Albany
    State
    New York
    Longitude
    -73.686458
    Latitude
    42.735476

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    FAQs

    What type of property is this?
    Storefront property - High-visibility downtown retail space with open floor plan, road frontage, and recent roof and system updates.
    Where is this storefront property located?
    The property is located at 58-62 King Street Troy, NY.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: High visibility location in the heart of downtown Troy with 49 feet of road frontage.; Recent improvements including a brand new roof (MAY 2024), updated plumbing, and updated electrical systems.; Open floor plan ready for business build‑out.
    (518) 348-2060
    We can help!
    Listing Contact
    Kelly Roach
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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