Mixed-Use Building with
New
For Sale
$1,250,000
65 Watervliet Ave, Albany, NY 12206
Three-story property combines nine apartments with two street-facing commercial spaces.
Property Size8,424 SF
Price / SF$148.39
Days on Market4
Property Features for 65 Watervliet Ave
General Information
Standard status
Active
Size
8,424 SF
Property subtype
Multi-Family
Financials
Asking Price
$1,250,000
Gross Income
$99,900
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
4 x studio, 1 x 1BR, 3 x 2BR, 1 x 3BR
Multifamily Units
9
Building Details
Year Built
1930
Buildings
1
Stories
3
Listing Agency:
Capital Tech Real Estate Group LLC
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Sep 28
Changed: Sep 30
Last Checked: Oct 1 at 11:20AM
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 Capital Tech Real Estate Group LLC
Investment Insights
Based on property information with market context.
This 8,424-square-foot mixed-use building dates to 1930 and contains nine apartments alongside two storefronts at street level. The residential mix includes four studios, one one-bedroom, three two-bedroom, and one three-bedroom unit. The commercial spaces measure 1,500 square feet and 1,000 square feet, with large glass windows and direct access from the street. Select apartments have received updates to windows, flooring, and appliances.
The property occupies the corner of Watervliet Ave, Livingston Ave, and 3rd St, just off the Everett Rd exit of I-90. Honest Weight Food Co-op is across the street, and the CDTA Training and Call Center is one block away.
The property occupies the corner of Watervliet Ave, Livingston Ave, and 3rd St, just off the Everett Rd exit of I-90. Honest Weight Food Co-op is across the street, and the CDTA Training and Call Center is one block away.
Key Highlights
- Nine apartments: four studios, one 1BR, three 2BR, and one 3BR
- Two street‑level storefronts measuring 1,500 SF and 1,000 SF
- Storefronts feature large glass windows and direct street access
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
$101,783
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
8.14%
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%
$2,035,660
$2.0M
Cap Rate 7%
$1,454,043
$1.5M
Cap Rate 9%
$1,130,922
$1.1M
Market Conditions
NOI Build-Up for 8,424 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
$156.7K $18.60/SF
− Vacancy
−$11.3K −$1.34/SF
EGI
$145.4K $17.26/SF
− OpEx
−$43.6K −$5.18/SF
NOI
$101.8K $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%
$2,035,660
Cap Rate 7%
$1,454,043
Cap Rate 9%
$1,130,922
Alternative Uses
Best Use
Retail
$1.45M
$1.27M – $1.70M
NOI $101,783 @ 7.0% cap · market cap 8.14%
Second Best
Mixed Use
$1.42M
$1.24M – $1.65M
NOI $99,287 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,574 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
9
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,147
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story property combines nine apartments with two street-facing commercial spaces.
Where is this mixed-use property located?
The property is located at 65 Watervliet Ave Albany, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Nine apartments: four studios, one 1BR, three 2BR, and one 3BR; Two street‑level storefronts measuring 1,500 SF and 1,000 SF; Storefronts feature large glass windows and direct street access
