Four-Unit Corner
For Sale
$674,900
Pending
6 Franklin Place, Troy, NY 12180
MULTI_FAMILY - Troy, NY
Property Size2,840 SF
Lot Size0.03 Acres
Days on Market132
Property Features for 6 Franklin Place
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
3
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 3, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 3, Bedroom 2
Basement
Full
Elementary school district
Troy
Middle school district
Troy
High school district
Troy
Directions
From NY-2 East, turn right onto 23rd St, left onto 2nd Ave, left back onto NY-2 East (19th St), then right onto 3rd St and left onto Liberty St. Destination on your right
Standard status
Pending
APN
381700 101.69-10-10
Size
2,840 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
6771
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1920
Number of units
4
Building materials
Brick
Listing Agency:
Gucciardo Real Estate Group LLC
(518) 221-9079
Listed By:
Pavel Karakalchu · License #10401307281
(518) 728-6305
Added: Apr 7
Changed: Jul 31
Last Checked: Aug 16 at 5:06AM
MLS# 202614571
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.
Four-unit corner quadplex with brick construction, built in 1920. The property includes three renovated studio apartments and a successful retail restaurant on the first floor, with the remaining unit supported by the building’s existing apartment layout.
The building is connected to public water and public sewer. Heating is provided via electric and forced-air systems, with natural gas also listed as a heating source, supporting varied tenant comfort and operational flexibility.
Total building size is 2,840 square feet on a 0.03-acre lot. This compact, mixed-use configuration can be attractive for owners looking to combine residential cash flow with ground-floor retail tenancy in a corner setting.
The building is connected to public water and public sewer. Heating is provided via electric and forced-air systems, with natural gas also listed as a heating source, supporting varied tenant comfort and operational flexibility.
Total building size is 2,840 square feet on a 0.03-acre lot. This compact, mixed-use configuration can be attractive for owners looking to combine residential cash flow with ground-floor retail tenancy in a corner setting.
Key Highlights
- Four‑unit quadplex with brick construction
- Three renovated studio apartments plus a first‑floor retail restaurant
- Corner location
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
$32,792
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
4.86%
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%
$655,840
$655.8K
Cap Rate 7%
$468,457
$468.5K
Cap Rate 9%
$364,356
$364.4K
Market Conditions
NOI Build-Up for 2,840 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
$49.4K $17.40/SF
− Vacancy
−$2.6K −$0.90/SF
EGI
$46.8K $16.50/SF
− OpEx
−$14.1K −$4.95/SF
NOI
$32.8K $11.55/SF
Area
Albany County, NY
Vacancy
5.20%
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%
$655,840
Cap Rate 7%
$468,457
Cap Rate 9%
$364,356
Alternative Uses
Best Use
Multifamily LT 5
$468.5K
$409.9K – $546.5K
NOI $32,792 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$433.4K
$379.2K – $505.6K
NOI $30,335 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$886.2K
$775.4K – $1.03M
NOI $62,034 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,758
Businesses Nearby
Explore this area
Business Placement
Demographics for 12180, NY
55,907
Population
25,527
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
90%
High-School Grad
56.2 sq mi
ZIP Area
995
Density / Sq Mi
$73,767
Median Household Income
$41,787
Median Earnings
$1,188
Median Rent
$233,000
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 - Brick quadplex with three renovated studio apartments and a first-floor retail restaurant, served by public water and sewer.
Where is this quadplex located?
The property is located at 6 Franklin Place Troy, NY.
What is the asking price?
The asking price for this property is $674,900.
What are key features of this property?
This property features: Four‑unit quadplex with brick construction; Three renovated studio apartments plus a first‑floor retail restaurant; Corner location
