Renovated
For Sale
$549,900
79 Columbia Street, Albany, NY 12210
Four full-floor flats offer one- and two-bedroom layouts in Albany’s downtown Capitol District.
Property Size3,204 SF
Price / SF$171.63
Days on Market160
Property Features for 79 Columbia Street
General Information
Standard status
Active
Size
3,204 SF
Property subtype
Multi Family / Quadruplex
Units
Unit Mix
1 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,858
Amenities
Hot Water, Natural Gas, Yes
Apartment
Brick
Other, None
Building Details
Year Built
1850
Buildings
1
Listing Agency:
Lincoln House Realty
(518) 469-6238
Listed By:
John Alund · License #10491208073
(518) 469-6238
Source:
Compass
Added: Mar 25
Changed: Aug 30
Last Checked: Aug 30 at 2:03AM
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 Lincoln House Realty
Investment Insights
Based on property information with market context.
This renovated quadplex contains 3,204 square feet and four full-floor apartment flats. The unit mix includes one two-bedroom, one-bath apartment and three one-bedroom, one-bath apartments. Three of the four units are vacant, providing flexibility for new tenancy or owner occupancy. Interior features include high ceilings, original architectural details, abundant natural light, brick construction, hot water, and natural gas. The property was built in 1850 and retains period character alongside its renovated condition.
Located on Columbia Street in downtown Albany’s Capitol District, the property is near N. Pearl Street restaurants, shops, cafes, transportation, and neighborhood amenities. Its four-unit configuration supports a range of occupancy and management strategies within a central downtown setting.
Located on Columbia Street in downtown Albany’s Capitol District, the property is near N. Pearl Street restaurants, shops, cafes, transportation, and neighborhood amenities. Its four-unit configuration supports a range of occupancy and management strategies within a central downtown setting.
Key Highlights
- Four‑unit quadplex with 3,204 square feet
- Unit mix includes one 2‑bedroom/1‑bath and three 1‑bedroom/1‑bath apartments
- Three of four units are vacant
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
$36,488
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
6.64%
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%
$729,760
$729.8K
Cap Rate 7%
$521,257
$521.3K
Cap Rate 9%
$405,422
$405.4K
Market Conditions
NOI Build-Up for 3,204 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
$55.7K $17.40/SF
− Vacancy
−$3.6K −$1.13/SF
EGI
$52.1K $16.27/SF
− OpEx
−$15.6K −$4.88/SF
NOI
$36.5K $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%
$729,760
Cap Rate 7%
$521,257
Cap Rate 9%
$405,422
Alternative Uses
Best Use
Multifamily LT 5
$521.3K
$456.1K – $608.1K
NOI $36,488 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$467.5K
$409.1K – $545.5K
NOI $32,728 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$845.3K
$739.6K – $986.2K
NOI $59,171 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,787
Businesses Nearby
Explore this area
Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
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?
Quadplex - Four full-floor flats offer one- and two-bedroom layouts in Albany’s downtown Capitol District.
Where is this quadplex located?
The property is located at 79 Columbia Street Albany, NY.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Four‑unit quadplex with 3,204 square feet; Unit mix includes one 2‑bedroom/1‑bath and three 1‑bedroom/1‑bath apartments; Three of four units are vacant
