Thirteen-Tenant Mixed-Use
For Sale
$3,900,000
644 Loudon Road, Latham, NY 12110
Commercial Sale, Latham, NY
Property Size15,375 SF
Lot Size2.50 Acres
Price / SF$253.66
Days on Market117
Property Features for 644 Loudon Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Commercial
Parking
75
Directions
From Latham Circle going south on Rt 9, pass Fresh Market Plaza to 644 Loudon Road on right side.
Standard status
Active
APN
012689 31.1-5-19
Size
15,375 SF
Lot size
2.50 Acres
Taxes and HOA fees
Tax Annual Amount
43397
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1959
Floors in Building
1
Building materials
Block
Roof type
Flat
Architectural style
Other
Listing Agency:
Venture Fox Realty Group LLC
(518) 290-1070
Listed By:
Hany Y Ayoub · License #30AY0937221
(518) 429-6966
Added: May 12
Changed: Aug 20
Last Checked: Sep 5 at 12:06AM
MLS# 202616970
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.
This mixed-use property contains a 15,375-square-foot plaza with 13 tenant spaces, combining retail storefronts and an apartment component. The building was constructed in 1959 with block construction, a flat roof, central air, and forced-air and electric heating. Public water and public sewer serve the property.
The 2.5-acre site is positioned on Route 9 in Latham, next to Fresh Market. Commercial zoning supports the existing mixed-use configuration, while the substantial site area provides context for evaluating the property as a multi-tenant commercial asset.
The 2.5-acre site is positioned on Route 9 in Latham, next to Fresh Market. Commercial zoning supports the existing mixed-use configuration, while the substantial site area provides context for evaluating the property as a multi-tenant commercial asset.
Key Highlights
- 13‑tenant plaza with retail storefronts and an apartment component
- 15,375 square feet of property size on 2.5 acres
- Located on Route 9 next to Fresh Market
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
$185,589
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
4.76%
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%
$3,711,780
$3.7M
Cap Rate 7%
$2,651,271
$2.7M
Cap Rate 9%
$2,062,100
$2.1M
Market Conditions
NOI Build-Up for 15,375 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
$276.8K $18.00/SF
− Vacancy
−$11.6K −$0.76/SF
EGI
$265.1K $17.24/SF
− OpEx
−$79.5K −$5.17/SF
NOI
$185.6K $12.07/SF
Area
Albany County, NY
Vacancy
4.20%
Lease Rate
$18.00 /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%
$3,711,780
Cap Rate 7%
$2,651,271
Cap Rate 9%
$2,062,100
Alternative Uses
Best Use
Retail
$2.65M
$2.32M – $3.09M
NOI $185,589 @ 7.0% cap · market cap 4.76%
Second Best
Mixed Use
$2.17M
$1.90M – $2.54M
NOI $152,213 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$4.80M
$4.20M – $5.60M
NOI $335,837 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
583
Businesses Nearby
187k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 27%
Groceries 12%
Beauty & Spa 4%
Crumbl Cookies
Dining
23,909 visits/mo
0.2 miles
The Fresh Market
Groceries
23,214 visits/mo
0.1 miles
Taco Bell
Dining
17,561 visits/mo
0.2 miles
Burger King
Dining
15,690 visits/mo
0.1 miles
Dunkin' Donuts
Dining
15,450 visits/mo
0.2 miles
Demographics for 12110, NY
19,682
Population
8,269
Households
2.4
Avg Household Size
44
Median Age
46%
College-Educated
93%
High-School Grad
14.3 sq mi
ZIP Area
1,376
Density / Sq Mi
$101,839
Median Household Income
$53,658
Median Earnings
$1,431
Median Rent
$306,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercially zoned plaza with retail storefronts, an apartment component, and gross-lease stores.
Where is this mixed-use property located?
The property is located at 644 Loudon Road Latham, NY.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 13‑tenant plaza with retail storefronts and an apartment component; 15,375 square feet of property size on 2.5 acres; Located on Route 9 next to Fresh Market
