Mixed-Use Property with
For Sale
$224,900
736 3RD Avenue, Watervliet, NY 12189
Two-level layout combines ground-floor business space with an upstairs residential unit.
Property Size1,920 SF
Price / SF$117.14
Days on Market10
Property Features for 736 3RD Avenue
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Commercial
Building Details
Year Built
1920
Listing Agency:
Venture Fox Realty Group LLC
Listed By:
Christopher McCabe · License #40MC1144610
(518) 378-8756
Source:
Signatureonerealtygroup
Added: Sep 13
Changed: Sep 21
Last Checked: Sep 21 at 7:13AM
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.
Built in 1920, this 1,920-square-foot mixed-use property combines commercial and residential components. The first floor has operated as a florist for several decades and can accommodate uses such as a law office, tax office, or other professional service. Upstairs, a one-bedroom, one-bath apartment includes a large living room and an open-concept eat-in kitchen.
The property includes off-street parking and access to the bus line. Watervliet Arsenal, restaurants, shopping, and major highways are identified nearby, providing a range of transportation and surrounding-use connections for an owner-occupant, investor, or business operator.
The property includes off-street parking and access to the bus line. Watervliet Arsenal, restaurants, shopping, and major highways are identified nearby, providing a range of transportation and surrounding-use connections for an owner-occupant, investor, or business operator.
Key Highlights
- 1,920‑square‑foot mixed‑use property built in 1920
- First‑floor commercial space with several decades of florist use
- Second‑floor one‑bedroom, one‑bath apartment
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
$19,008
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
8.45%
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%
$380,160
$380.2K
Cap Rate 7%
$271,543
$271.5K
Cap Rate 9%
$211,200
$211.2K
Market Conditions
NOI Build-Up for 1,920 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
$34.6K $18.00/SF
− Vacancy
−$4.1K −$2.16/SF
EGI
$30.4K $15.84/SF
− OpEx
−$11.4K −$5.94/SF
NOI
$19.0K $9.90/SF
Area
Albany County, NY
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$380,160
Cap Rate 7%
$271,543
Cap Rate 9%
$211,200
Alternative Uses
Best Use
Retail
$331.1K
$289.7K – $386.3K
NOI $23,176 @ 7.0% cap · market cap 10.31%
Second Best
Mixed Use
$271.5K
$237.6K – $316.8K
NOI $19,008 @ 7.0% cap · market cap 8.45%
Theoretical Best
Office A
$599.1K
$524.2K – $699.0K
NOI $41,939 @ 7.0% cap · market cap 18.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Explore this area
Business Placement
Demographics for 12189, NY
18,970
Population
9,887
Households
1.9
Avg Household Size
39
Median Age
27%
College-Educated
92%
High-School Grad
6.2 sq mi
ZIP Area
3,060
Density / Sq Mi
$62,763
Median Household Income
$48,555
Median Earnings
$1,084
Median Rent
$199,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level layout combines ground-floor business space with an upstairs residential unit.
Where is this mixed-use property located?
The property is located at 736 3RD Avenue Watervliet, NY.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: 1,920‑square‑foot mixed‑use property built in 1920; First‑floor commercial space with several decades of florist use; Second‑floor one‑bedroom, one‑bath apartment
