Updated Three-Unit
For Sale
$249,999
72 Bassett Street, Albany, NY 12202
MultiFamily, Albany, NY
Property Size1,368 SF
Lot Size0.02 Acres
Price / SF$182.75
Days on Market76
Property Features for 72 Bassett Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1
Parking features
Off Street
Basement
Apartment, Full, Finished
Elementary school
Giffen Memorial
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Head southwest on S Pearl St -Turn left onto Bassett St. Continue a short distance; property will be on the right.
Standard status
Active
APN
010100 76.65-4-58
Size
1,368 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
2337
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1890
Number of units
3
Flooring type
Carpet, Vinyl, Laminate
Building materials
Brick
Roof type
Rubber
Listing Agency:
CapMark Realty LLC
(518) 877-6385
Listed By:
Alexandria Sifontes · License #10401330797
(518) 470-8474
Added: Jun 17
Changed: Aug 29
Last Checked: Aug 31 at 4:06AM
MLS# 202619875
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 three-unit triplex contains 1,368 square feet within a brick building constructed in 1890. The first- and second-floor residences are vacant, while the basement residence is occupied. Recent work has been completed throughout the three floors, and the property includes carpet, vinyl, and laminate flooring, hot-water heat, a rubber roof, and off-street parking.
The property is located on Bassett Street in Albany’s South End, near Downtown Albany, Empire State Plaza, the Albany Waterfront, shops, restaurants, parks, public transit, and government offices. Public water and public sewer serve the building. Its three-level configuration provides separate residential spaces with immediate flexibility for occupancy or leasing.
The property is located on Bassett Street in Albany’s South End, near Downtown Albany, Empire State Plaza, the Albany Waterfront, shops, restaurants, parks, public transit, and government offices. Public water and public sewer serve the building. Its three-level configuration provides separate residential spaces with immediate flexibility for occupancy or leasing.
Key Highlights
- Three‑unit triplex with 1,368 square feet
- First- and second‑floor units are vacant; basement unit is tenant‑occupied
- Brick construction dating to 1890
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
$15,579
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
6.23%
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%
$311,580
$311.6K
Cap Rate 7%
$222,557
$222.6K
Cap Rate 9%
$173,100
$173.1K
Market Conditions
NOI Build-Up for 1,368 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
$23.8K $17.40/SF
− Vacancy
−$1.5K −$1.13/SF
EGI
$22.3K $16.27/SF
− OpEx
−$6.7K −$4.88/SF
NOI
$15.6K $11.39/SF
Area
Albany, NY
Vacancy
6.50%
Lease Rate
$17.40 /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%
$311,580
Cap Rate 7%
$222,557
Cap Rate 9%
$173,100
Alternative Uses
Best Use
Multifamily LT 5
$222.6K
$194.7K – $259.7K
NOI $15,579 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$199.6K
$174.7K – $232.9K
NOI $13,974 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$360.9K
$315.8K – $421.1K
NOI $25,264 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Explore this area
Business Placement
Demographics for 12202, NY
10,257
Population
5,434
Households
1.9
Avg Household Size
34
Median Age
33%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
5,129
Density / Sq Mi
$49,684
Median Household Income
$34,656
Median Earnings
$1,012
Median Rent
$139,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Brick construction with off-street parking, public utilities, and flexible occupancy across three residential units.
Where is this triplex located?
The property is located at 72 Bassett Street Albany, NY.
What is the asking price?
The asking price for this property is $249,999.
What are key features of this property?
This property features: Three‑unit triplex with 1,368 square feet; First- and second‑floor units are vacant; basement unit is tenant‑occupied; Brick construction dating to 1890
