Two-Story Mixed-Use
New
For Sale
$224,900
736 3rd Avenue, Watervliet, NY 12189
Commercial Sale, Watervliet, NY
Property Size1,920 SF
Lot Size0.05 Acres
Price / SF$117.14
Days on Market2
Property Features for 736 3rd Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
4
Parking features
Off Street
Basement
Full, Unfinished
Lot features
Cleared, Corner Lot
Elementary school district
Watervliet
Middle school district
Watervliet
High school district
Watervliet
Directions
From Broadway past Watervliet Arsenal, turn left onto 3rd Ave.
Standard status
Active
APN
011800 44.42-2-1
Size
1,920 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
5952
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Flooring type
Carpet, Vinyl
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Venture Fox Realty Group LLC
(518) 290-1070
Listed By:
Christopher McCabe · License #40MC1144610
(518) 378-8756
Added: Sep 17
Last Checked: Sep 18 at 12:06PM
MLS# 202626384
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 two-story mixed-use property contains 1,920 square feet on a 0.05-acre lot. The first floor has served as a florist for several decades and provides commercial space suitable for continued retail or professional use. The second floor includes a one-bedroom, one-bath apartment with a large living room and open-concept eat-in kitchen.
Built in 1920, the property has vinyl siding, carpet and vinyl flooring, forced-air heating, a shingle roof, and off-street parking. Public water and public sewer serve the building. The property is located in Watervliet, with access to bus service, the Watervliet Arsenal, restaurants, shopping, and major highways.
Built in 1920, the property has vinyl siding, carpet and vinyl flooring, forced-air heating, a shingle roof, and off-street parking. Public water and public sewer serve the building. The property is located in Watervliet, with access to bus service, the Watervliet Arsenal, restaurants, shopping, and major highways.
Key Highlights
- 1,920‑square‑foot mixed‑use property on a 0.05‑acre lot
- First floor has operated as a florist for several decades
- 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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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
125
Businesses Nearby
25k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 96%
Home Improvements & Furnishings 4%
Hoffman Car Wash
Shops & Services
13,686 visits/mo
0.4 miles
Speedway
Shops & Services
7,121 visits/mo
0.3 miles
7-Eleven
Shops & Services
3,189 visits/mo
0.3 miles
Johnstone Supply
Home Improvements & Furnishings
1,017 visits/mo
0.5 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial zoning supports a street-level business with an upstairs residential apartment and off-street parking.
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 on a 0.05‑acre lot; First floor has operated as a florist for several decades; Second‑floor one‑bedroom, one‑bath apartment
