Renovated Four-Unit Mixed-Use
For Sale
$674,900
6 Franklin Street, Troy, NY 12180
Four-unit property combining renovated studio apartments with an established first-floor restaurant space.
Property Size2,840 SF
Price / SF$237.64
Days on Market146
Property Features for 6 Franklin Street
General Information
Standard status
Active
Size
2,840 SF
Property subtype
Multi Family / Quadruplex
Taxes and HOA fees
Annual Taxes
$6,771
Amenities
Electric, Forced Air, Natural Gas, Yes
Full
True
Brick
Yes
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Gucciardo Real Estate LLC
(518) 728-6305
Listed By:
Pavel Karakalchu · License #10401307281
(518) 728-6305
Source:
Compass
Added: Apr 7
Changed: Aug 30
Last Checked: Aug 30 at 2:33AM
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 Gucciardo Real Estate LLC
Investment Insights
Based on property information with market context.
This 2840-square-foot, four-unit building combines three renovated studio apartments with a first-floor retail restaurant. The property dates to 1920 and includes a mixed-use configuration suited to residential and commercial occupancy within one asset.
Positioned on a corner and surrounded by cafes and restaurants, the building is also near public transportation. The existing restaurant component and updated apartment interiors provide a clearly defined combination of residential units and street-level commercial space.
Positioned on a corner and surrounded by cafes and restaurants, the building is also near public transportation. The existing restaurant component and updated apartment interiors provide a clearly defined combination of residential units and street-level commercial space.
Key Highlights
- Four‑unit mixed‑use building with three renovated studio apartments
- Existing first‑floor retail restaurant
- 2840 square feet of building area
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
$36,730
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
5.44%
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%
$734,600
$734.6K
Cap Rate 7%
$524,714
$524.7K
Cap Rate 9%
$408,111
$408.1K
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
$51.1K $18.00/SF
− Vacancy
−$2.1K −$0.76/SF
EGI
$49.0K $17.24/SF
− OpEx
−$12.2K −$4.31/SF
NOI
$36.7K $12.93/SF
Area
Albany County, NY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$734,600
Cap Rate 7%
$524,714
Cap Rate 9%
$408,111
Alternative Uses
Best Use
Specialty Retail
$524.7K
$459.1K – $612.2K
NOI $36,730 @ 7.0% cap · market cap 5.44%
Second Best
Multifamily LT 5
$468.5K
$409.9K – $546.5K
NOI $32,792 @ 7.0% cap · market cap 4.86%
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
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
22
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 - Four-unit property combining renovated studio apartments with an established first-floor restaurant space.
Where is this quadplex located?
The property is located at 6 Franklin Street 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 mixed‑use building with three renovated studio apartments; Existing first‑floor retail restaurant; 2840 square feet of building area
