New-Construction Mixed-Use
For Sale
Contact for pricing
823 Eastern Ave, Schenectady, NY 12308
New-construction space suited for retail or office use within a multi-use property.
Property Size900 SF
Price / SF$0.01
Days on Market71
Property Features for 823 Eastern Ave
General Information
Standard status
Active
Size
900 SF
Property subtype
Commercial
Building Details
Year Built
2020
Listing Agency:
M J J Realty
Listed By:
Brian Walters · License #30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Aug 21
Changed: Oct 28
Last Checked: Oct 30 at 2:45PM
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 M J J Realty
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Investment Insights
Based on property information with market context.
Renaissance Square includes two separate 900 SF spaces intended for retail and/or office use. The spaces cannot be combined and are planned for delivery in vanilla-shell condition, allowing the occupant to complete the interior fit-up. The property was built in 2020.
Located at 823 Eastern Ave in Schenectady, the multi-use property includes 30 residential apartments. Each space is offered as a distinct commercial unit within the larger residential and commercial development.
Located at 823 Eastern Ave in Schenectady, the multi-use property includes 30 residential apartments. Each space is offered as a distinct commercial unit within the larger residential and commercial development.
Key Highlights
- Two separate 900 SF spaces available
- Retail and/or office use supported
- Spaces cannot be combined
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,864
Suggested Prices Based on Cap Rates
Cap Rate 5%
$217,280
$217.3K
Cap Rate 7%
$155,200
$155.2K
Cap Rate 9%
$120,711
$120.7K
Market Conditions
NOI Build-Up for 900 SF
Gross rent
$16.2K $18.00/SF
− Vacancy
−$680 −$0.76/SF
EGI
$15.5K $17.24/SF
− OpEx
−$4.7K −$5.17/SF
NOI
$10.9K $12.07/SF
Area
Schenectady County, NY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$217,280
Cap Rate 7%
$155,200
Cap Rate 9%
$120,711
Alternative Uses
Best Use
Office B
$216.6K
$189.6K – $252.8K
NOI $15,165 @ 7.0% cap · market cap 151,650.00%
Second Best
Mixed Use
$177.4K
$155.3K – $207.0K
NOI $12,420 @ 7.0% cap · market cap 124,200.00%
Theoretical Best
Office A
$269.4K
$235.7K – $314.3K
NOI $18,857 @ 7.0% cap · market cap 188,570.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,141
Businesses Nearby
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Business Placement
Demographics for 12308, NY
15,285
Population
6,442
Households
2.4
Avg Household Size
31
Median Age
29%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
6,646
Density / Sq Mi
$59,789
Median Household Income
$35,966
Median Earnings
$1,159
Median Rent
$180,100
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - New-construction space suited for retail or office use within a multi-use property.
Where is this mixed-use property located?
The property is located at 823 Eastern Ave Schenectady, NY.
What are key features of this property?
This property features: Two separate 900 SF spaces available; Retail and/or office use supported; Spaces cannot be combined
