5-Unit Apartment
For Sale
$689,900
731 Columbia Turnpike, East Greenbush, NY 12061
Fully occupied rental property with separate utilities and a carport.
Property Size2,336 SF
Price / SF$295.33
Days on Market10
Property Features for 731 Columbia Turnpike
General Information
Standard status
Active
Size
2,336 SF
Property subtype
Multi-Family
Building Details
Year Built
1932
Buildings
2
Listing Agency:
Gallo Realty Adk Inc
(518) 810-5885
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Oct 26
Changed: Nov 3
Last Checked: Nov 3 at 6:22AM
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 Gallo Realty Adk Inc
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Investment Insights
Based on property information with market context.
This five-unit apartment property at 731 Columbia Turnpike is fully occupied and has separate utilities and a carport. The building dates to 1932 and is listed at 2,336 square feet, with Commercial zoning.
The seller prefers a combined sale with the separate property at 729 Columbia Turnpike; an individual sale may also be considered.
The seller prefers a combined sale with the separate property at 729 Columbia Turnpike; an individual sale may also be considered.
Key Highlights
- Five units, all currently rented
- Separate utilities
- Carport included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,355
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$567,100
$567.1K
Cap Rate 7%
$405,071
$405.1K
Cap Rate 9%
$315,056
$315.1K
Market Conditions
NOI Build-Up for 2,336 SF
Gross rent
$54.4K $23.28/SF
− Vacancy
−$2.8K −$1.21/SF
EGI
$51.6K $22.07/SF
− OpEx
−$23.2K −$9.93/SF
NOI
$28.4K $12.14/SF
Area
Rensselaer County, NY
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$567,100
Cap Rate 7%
$405,071
Cap Rate 9%
$315,056
Alternative Uses
Best Use
Apartment 5plus
$405.1K
$354.4K – $472.6K
NOI $28,355 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$584.0K
$511.0K – $681.3K
NOI $40,877 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
288
Businesses Nearby
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Business Placement
Demographics for 12061, NY
9,404
Population
4,144
Households
2.3
Avg Household Size
44
Median Age
54%
College-Educated
95%
High-School Grad
20.1 sq mi
ZIP Area
468
Density / Sq Mi
$117,083
Median Household Income
$71,176
Median Earnings
$1,741
Median Rent
$311,300
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
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied rental property with separate utilities and a carport.
Where is this apartment building located?
The property is located at 731 Columbia Turnpike East Greenbush, NY.
What is the asking price?
The asking price for this property is $689,900.
What are key features of this property?
This property features: Five units, all currently rented; Separate utilities; Carport included
