Building Details

Year Built 1850

Listing Agency: Berkshire Hathaway Home Services Blake Show Phone

Listed By: Karen R Westman · License #30WE1064299 Show Phone

Source: Simplywoodardrealestate

Added: Jan 12 Changed: Nov 1 Last Checked: Nov 1 at 4:17AM

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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 Berkshire Hathaway Home Services Blake

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,778

Cap Rate

9.20%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$735,560 $735.6K

Cap Rate 7%

$525,400 $525.4K

Cap Rate 9%

$408,644 $408.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,808 SF

Gross rent

$55.6K $19.80/SF

− Vacancy

−$3.1K −$1.09/SF

EGI

$52.5K $18.71/SF

− OpEx

−$15.8K −$5.61/SF

NOI

$36.8K $13.10/SF

Area

Rensselaer County, NY

Vacancy

5.50%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$735,560

Cap Rate 7%

$525,400

Cap Rate 9%

$408,644

Alternative Uses

Best Use

Multifamily LT 5

$525.4K

$459.7K – $613.0K (±1% cap)

NOI $36,778 @ 7.0% cap · market cap 9.20%

Second Best

Apartment 5plus

$486.9K

$426.1K – $568.1K (±1% cap)

NOI $34,084 @ 7.0% cap · market cap 8.53%

Theoretical Best

Office A

$702.0K

$614.2K – $819.0K (±1% cap)

NOI $49,137 @ 7.0% cap · market cap 12.29%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Suggested Use

Top Pick Building Supply Auto Parts Store Law Firm Storage Facility Parking Lot & Garage Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

24

Businesses Nearby

Explore this area Business Placement

Demographics for 12061, NY

9,404

Population

4,144

Households

2.3

Avg Household Size

44

Median Age

54%

College-Educated

95%

High-School Grad

20.1 sq mi

ZIP Area

468

Density / Sq Mi

$117,083

Median Household Income

$71,176

Median Earnings

$1,741

Median Rent

$311,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

Where is this duplex located?

The property is located at 890 Luther Road East Greenbush, NY.

What is the asking price?

The asking price for this property is $399,700.