8-Unit Apartment
For Sale
$1,200,000
8587 85-87 Nelson Ave, Ghent, NY 12075
Two buildings offer fully occupied residential units with private parking and shared laundry facilities.
Property Size8,208 SF
Lot Size1.40 Acres
Price / SF$146.20
Days on Market22
Property Features for 8587 85-87 Nelson Ave
General Information
Standard status
Active
Size
8,208 SF
Lot size
1.40 Acres
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Amenities
common laundry area
Building Details
Year Built
1964
Buildings
2
Listing Agency:
Preferred Country Properties
(518) 392-5600
Listed By:
Natalia De Amorim
Source:
Upstatecurious
Added: Aug 7
Changed: Aug 27
Last Checked: Aug 25 at 5:46AM
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 Preferred Country Properties
Investment Insights
Based on property information with market context.
This multifamily property comprises two buildings with eight residential units totaling 8,208 square feet on 1.4 acres. Each apartment has two bedrooms, a full bathroom, an L-shaped living and dining area, and a kitchen equipped with a stove, refrigerator, and range hood. Shared laundry areas with washers and dryers are located within both buildings. The property is fully occupied and described as being in very good condition.
Residents have access to a private asphalt parking lot, while separate meters serve the units. The property is located in the center of Ghent Hamlet, within walking distance of Dairy Queen, free tennis courts, a sports field with swing sets, and the post office. Chatham Village, schools, and the Taconic State Parkway are 3 miles away; Hudson’s Warren Street and Amtrak are 10 miles away. Horseback riding lessons are available 5 minutes from the property.
Residents have access to a private asphalt parking lot, while separate meters serve the units. The property is located in the center of Ghent Hamlet, within walking distance of Dairy Queen, free tennis courts, a sports field with swing sets, and the post office. Chatham Village, schools, and the Taconic State Parkway are 3 miles away; Hudson’s Warren Street and Amtrak are 10 miles away. Horseback riding lessons are available 5 minutes from the property.
Key Highlights
- Two buildings with 8 identical apartment units
- 8,208 square feet on 1.4 acres
- Each unit includes 2 bedrooms and 1 full bath
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
$77,196
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
6.43%
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%
$1,543,920
$1.5M
Cap Rate 7%
$1,102,800
$1.1M
Cap Rate 9%
$857,733
$857.7K
Market Conditions
NOI Build-Up for 8,208 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
$147.7K $18.00/SF
− Vacancy
−$7.4K −$0.90/SF
EGI
$140.4K $17.10/SF
− OpEx
−$63.2K −$7.69/SF
NOI
$77.2K $9.41/SF
Area
Columbia County, NY
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,543,920
Cap Rate 7%
$1,102,800
Cap Rate 9%
$857,733
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$965.0K – $1.29M
NOI $77,196 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,149 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Explore this area
Business Placement
Demographics for 12075, NY
3,135
Population
1,348
Households
2.3
Avg Household Size
50
Median Age
37%
College-Educated
88%
High-School Grad
36.3 sq mi
ZIP Area
86
Density / Sq Mi
$83,443
Median Household Income
$48,368
Median Earnings
$1,375
Median Rent
$384,700
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?
Apartment building - Two buildings offer fully occupied residential units with private parking and shared laundry facilities.
Where is this apartment building located?
The property is located at 8587 85-87 Nelson Ave Ghent, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two buildings with 8 identical apartment units; 8,208 square feet on 1.4 acres; Each unit includes 2 bedrooms and 1 full bath
