Three-Story Mixed-Use
65 Watervliet Avenue, Albany, NY 12206
For Sale
$1,250,000
The building combines nine apartments with two ground-floor storefronts.
Property Size8,424 SF
Price / SF$148.39
Days on Market49
Property Features for 65 Watervliet Avenue
General Information
Standard status
Size
Property subtype
Financials
Asking Price
Gross Income
Site & Location
Corner Location
Highway Access
Road Access
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Buildings
Stories
Tenancy
Listing Agency:
NAI Platform LLC
Listed By:
Cory M Tyksinski · License NY #10491200588
(518) 857-8396
Source:
Capmarkrealty
Added: Sep 28
Changed: Nov 6
Last Checked: Nov 14 at 2:49AM
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 NAI Platform LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1930, this 8,424-square-foot, three-story mixed-use property contains nine apartments: four studios, one one-bedroom, three two-bedroom, and one three-bedroom unit. Two storefronts occupy the ground floor, measuring approximately 1,500 SF and 1,000 SF. Select apartments have received window, flooring, and appliance updates. The storefronts are vacant. The property has a pro forma 6.9% cap rate assuming the retail spaces are leased.
The building sits at the meeting point of Watervliet Avenue, Livingston Avenue, and 3rd Street, near the Everett Road exit from I-90. Honest Weight Food Co-op is across the street, and the CDTA Training and Call Center is one block away.
The building sits at the meeting point of Watervliet Avenue, Livingston Avenue, and 3rd Street, near the Everett Road exit from 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 ground‑floor storefronts of approximately 1,500 SF and 1,000 SF
- 8,424‑square‑foot, three‑story building constructed in 1930
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,783
Cap Rate
8.14%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
9
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,213
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
$162,300
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Albany, NY
Properties on Market for Mixed-use properties in Albany
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The building combines nine apartments with two ground-floor storefronts.
Where is this mixed-use property located?
The property is located at 65 Watervliet Avenue 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 ground‑floor storefronts of approximately 1,500 SF and 1,000 SF; 8,424‑square‑foot, three‑story building constructed in 1930
