Thirteen Tenant Plaza For
For Sale
$3,900,000
644 Loudon Road, Colonie, NY 12110
Thirteen tenant plaza with retail and apartment units.
Property Size15,375 SF
Price / SF$253.66
Days on Market96
Property Features for 644 Loudon Road
General Information
Standard status
Active
Size
15,375 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$43,397
Amenities
Central air
Central Air Cooling
Electric Heating
Flat Roof
Forced Air Heating
Building Details
Year Built
1959
Listing Agency:
VENTURE FOX REALTY GROUP LLC
(518) 290-1070
Listed By:
HANY Y AYOUB · License #30AY0937221
Source:
Corcoran
Added: May 12
Changed: Aug 15
Last Checked: Aug 15 at 6:05AM
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 VENTURE FOX REALTY GROUP LLC
Investment Insights
Based on property information with market context.
This property features a thirteen-tenant plaza comprising apartment and retail spaces. The units are consistently rented. Situated on Route 9, next to Fresh Market, the property includes a large lot that may accommodate additional projects. The property size is 15375 square feet.
Key Highlights
- High‑traffic location on Route 9 next to Fresh Market.
- Thirteen‑tenant plaza with apartment and retail units.
- Property is always rented.
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
$185,769
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%
$3,715,380
$3.7M
Cap Rate 7%
$2,653,843
$2.7M
Cap Rate 9%
$2,064,100
$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
$286.0K $18.60/SF
− Vacancy
−$20.6K −$1.34/SF
EGI
$265.4K $17.26/SF
− OpEx
−$79.6K −$5.18/SF
NOI
$185.8K $12.08/SF
Area
Albany, NY
Vacancy
7.20%
Lease Rate
$18.60 /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%
$3,715,380
Cap Rate 7%
$2,653,843
Cap Rate 9%
$2,064,100
Alternative Uses
Best Use
Retail
$2.65M
$2.32M – $3.10M
NOI $185,769 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$2.24M
$1.96M – $2.62M
NOI $157,053 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$4.06M
$3.55M – $4.73M
NOI $283,946 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
583
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Thirteen tenant plaza with retail and apartment units.
Where is this shopping center located?
The property is located at 644 Loudon Road Colonie, 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: High‑traffic location on Route 9 next to Fresh Market.; Thirteen‑tenant plaza with apartment and retail units.; Property is always rented.
