Historic 4-Unit
For Sale
$649,000
79 Ten Broeck Street, Albany, NY 12210
Rehabilitated brick property with original wood floors and a building-wide sprinkler system.
Property Size3,744 SF
Price / SF$173.34
Days on Market154
Property Features for 79 Ten Broeck Street
General Information
Standard status
Active
Size
3,744 SF
Property subtype
Multi Family / Quadruplex
Occupancy
100%
Additional Details
Sprinkler System
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$10,034
Amenities
Rubber
AC Pump, Yes
Forced Air, Yes
Apartment
100 Amp Service
Yes
Brick
Laundry Room
Other
Fire Sprinkler System, Fire Alarm
Deck
Building Details
Year Built
1872
Year Renovated
2019
Buildings
1
Construction
brick brownstone
Listing Agency:
Weichert Realtors-Reliable Properties
(518) 396-8386
Listed By:
Craig Cioffi · License #10401345174
(518) 396-8386
Source:
Compass
Added: Mar 31
Changed: Aug 30
Last Checked: Aug 31 at 1:03AM
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 Weichert Realtors-Reliable Properties
Investment Insights
Based on property information with market context.
Located at 79 Ten Broeck Street, this 3,744-square-foot brick brownstone contains four residential units and dates to 1872. The property combines preserved architectural elements with substantial modernization, including refinished wide-plank wood flooring, exposed brick, high ceilings, forced-air heating, and a complete fire sprinkler system. A laundry room and deck are also included.
The building occupies the historic Ten Broeck Triangle area of Albany, with Downtown Albany and the Palace Theatre nearby. The Capitol, SUNY Albany, and major hospital hubs are identified as accessible commute destinations. The property is fully leased, and the current rents are described as below market. It received the 2019 Historic Albany Foundation Preservation Initiative Award following its rehabilitation.
The building occupies the historic Ten Broeck Triangle area of Albany, with Downtown Albany and the Palace Theatre nearby. The Capitol, SUNY Albany, and major hospital hubs are identified as accessible commute destinations. The property is fully leased, and the current rents are described as below market. It received the 2019 Historic Albany Foundation Preservation Initiative Award following its rehabilitation.
Key Highlights
- Four‑unit brick brownstone at 79 Ten Broeck Street
- 3,744 SF building constructed in 1872
- Complete fire sprinkler system and fire alarm
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
$42,638
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
6.57%
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%
$852,760
$852.8K
Cap Rate 7%
$609,114
$609.1K
Cap Rate 9%
$473,756
$473.8K
Market Conditions
NOI Build-Up for 3,744 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
$65.1K $17.40/SF
− Vacancy
−$4.2K −$1.13/SF
EGI
$60.9K $16.27/SF
− OpEx
−$18.3K −$4.88/SF
NOI
$42.6K $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%
$852,760
Cap Rate 7%
$609,114
Cap Rate 9%
$473,756
Alternative Uses
Best Use
Multifamily LT 5
$609.1K
$533.0K – $710.6K
NOI $42,638 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$546.3K
$478.1K – $637.4K
NOI $38,244 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$987.8K
$864.3K – $1.15M
NOI $69,144 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
3,082
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Rehabilitated brick property with original wood floors and a building-wide sprinkler system.
Where is this quadplex located?
The property is located at 79 Ten Broeck Street Albany, NY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Four‑unit brick brownstone at 79 Ten Broeck Street; 3,744 SF building constructed in 1872; Complete fire sprinkler system and fire alarm
