Mixed-Use Corner Property with
601 Altamont Avenue Schenectady, NY 12303
For Sale
$399,900
Two first-floor storefronts pair with a fully rented second-floor apartment in a corner-lot mixed-use building.
Property Size2,128 SF
Price / SF$187.92
Days on Market384
Property Features for 601 Altamont Avenue
General Information
- Standard status
- Active
- Size
- 2,128 SF
- Property subtype
- Multi Family / Triplex
Building Details
- Year Built
- 1984
Listing Agency:
Miranda Real Estate Group Inc
(201) 238-4972
Listed By:
Moonrani G Gumani · License #10401352209
(201) 238-4972
Source:
Compass
Added: Jul 6, 2025
Changed: Jul 23
Last Checked: Jul 23 at 6:51PM
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 Miranda Real Estate Group Inc
Investment Insights
Based on property information with market context.
This well-maintained mixed-use property offers two commercial storefronts on the first floor and a fully rented residential apartment on the second floor. The layout supports flexible commercial use for a range of service or professional office concepts, while the upstairs unit provides residential rental income. The building also includes a one-car garage and a substantial backyard.
Located at 601 Altamont Avenue in Schenectady, the property sits on a prominent corner lot, offering practical street-facing presence and straightforward appeal for tenants seeking established storefront space within the Mount Pleasant area.
Located at 601 Altamont Avenue in Schenectady, the property sits on a prominent corner lot, offering practical street-facing presence and straightforward appeal for tenants seeking established storefront space within the Mount Pleasant area.
Key Highlights
- Mixed‑use corner‑lot building with two first‑floor commercial storefronts and a fully rented residential apartment on the second floor
- Two commercial storefronts on the first floor, suitable for uses such as a barbershop, beauty salon, or professional office
- One‑car garage plus a rear porch, awnings, and deck
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.2k | $26.40 |
| − Vacancy | −$8.4k | −$3.93 |
| EGI | $47.8k | $22.47 |
| − OpEx | −$12.0k | −$5.62 |
| NOI | $35.9k | $16.85 |
2,128 SF · lease $26.40/SF/yr · vacancy 14.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$512.2K
$448.2K – $597.6K
NOI $35,856 @ 7.0% cap · market cap 8.97%
Second Best
Mixed Use
$419.5K
$367.1K – $489.4K
NOI $29,366 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$636.9K
$557.3K – $743.1K
NOI $44,586 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
FAQs
What type of property is this?
Mixed-use property - Two first-floor storefronts pair with a fully rented second-floor apartment in a corner-lot mixed-use building.
Where is this mixed-use property located?
The property is located at 601 Altamont Avenue Schenectady, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Mixed‑use corner‑lot building with two first‑floor commercial storefronts and a fully rented residential apartment on the second floor; Two commercial storefronts on the first floor, suitable for uses such as a barbershop, beauty salon, or professional office; One‑car garage plus a rear porch, awnings, and deck
