Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    690-696 River St Troy, NY 12180

    Sponsored
    For Sale
    $2,000,000

    High-return mixed-use property in Troy, NY

    Property size:
    1,636 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This mixed-use property in Troy, NY, offers a compelling investment opportunity. Priced at $2,000,000, this 1,636 square foot property boasts an 8.10% cap rate, with potential to reach 10% or higher. The property includes a fully equipped car wash featuring top-of-the-line equipment entirely replaced in 2020. This includes a complete Balanger & Sonny's Tunnel System with Innovation Control System, a Sonny's Banana Peel 120' Conveyor System with Hydraulic Pump Drive, and a Carolina Pride Express 4 Bay Self Serves system. The car wash features radiant heating on tunnel entrance and exit pads, and self-serve floors with 10' runouts. Adding to the income stream, a three-bay service garage and office area are currently leased, generating substantial additional revenue. The property sits on a 0.4-acre lot, strategically located on River Street with high traffic counts (AADT 11372 & AADT 5289). This location benefits from Troy's ongoing revitalization, presenting significant growth potential. The property is classified as retail and mixed-use, offering a value-add investment opportunity with a modified lease and multi-tenancy. A virtual tour is available for a comprehensive view of this exceptional property.

    Property Features for 690-696 River St

    General Information

    Property type
    Retail properties
    Square Feet
    1,636 SF
    Lot Size
    17,424 SF

    HighLights

    • 2020‑installed state‑of‑the‑art car wash equipment.
    • 8.1% current cap rate, with potential to exceed 10%.
    • Prime location poised for growth due to Troy's revitalization.
    • Radiant heating on tunnel entrances/exits; 10' runouts on self‑serve bays.
    • Complete Balanger & Sonny's tunnel system (2020), including Sonny's Banana Peel conveyor system (2020) and Carolina Pride Express 4‑bay self‑serve system (2020).
    • High‑traffic location (AADT 11372 & 5289).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Rensselaer
    State
    New York
    Longitude
    -73.6833708
    Latitude
    42.7456568

    Nearby Similar for Sale

    • $2,400,000
      7,885 SF

      Meticulously Maintained 12-Unit Apartment Building

      Rare opportunity: meticulously maintained 12-unit apartment building in Troy.
      462-470 2Nd Ave, Troy, NY 12182
      View Details
    • $500,000
      4,000 SF

      Troy Mixed-Use Turn-Key Restaurant

      Mixed-use property with turn-key restaurant and residential unit.
      1 14Th St, Troy, NY 12180
      View Details
    • $1,490,000
      4,060 SF

      Established Diner on Route 7

      Turnkey diner with high traffic, seating for 143 guests.
      855 Hoosick Rd, Troy, NY 12180
      View Details
    • $1,150,000
      Pending

      11-Unit Income Property with Views

      Two buildings, 11 units, Hudson River views, investment opportunity.
      204 2Nd Ave, Troy, NY 12180
      View Details
    • $2,400,000
      0.42 Acres

      Multi-Unit Buildings in Troy, NY

      Meticulously maintained multi-unit buildings with steady income potential.
      462-470 2Nd Ave, Troy, NY 12182
      View Details
    • $299,000
      Pending

      Immaculate Two-Family Home with Garage

      Well-maintained 2-family home on a double lot with a garage.
      821 6Th Ave, Troy, NY 12182
      View Details
    • $319,000
      Pending

      Rented Brick Triplex Investment Property

      Fully rented triplex with separate meters in Troy, NY.
      381 3Rd St, Troy, NY 12180
      View Details
    • $475,000
      Pending

      Downtown Troy Brownstone with Income

      1870s brownstone with modern conveniences, income potential, and outdoor space.
      2142 5Th Ave, Troy, NY 12180
      View Details
    • $119,900
      2,200 SF

      Two-Family Opportunity in Troy, NY

      Two-family property for investors or owner-occupants seeking value.
      23 Glen Ave, Troy, NY 12180
      View Details
    • $279,000
      1,844 SF

      Renovated Commercial Space in Troy

      Renovated commercial space with high traffic and off-street parking.
      985 Hoosick Rd, Troy, NY 12180
      View Details
    • $399,000
      1,600 SF

      Brunswick Farmhouse with Acreage and Barn

      Farmhouse on 41+ acres with barn, garage, and potential.
      1789 State Highway 7, Brunswick, NY 12180
      View Details
    • $209,000
      Pending

      Troy Two-Family Investment Opportunity

      Recently renovated two-family home with income potential in Troy.
      161 6Th Ave, Troy, NY 12180
      View Details

    FAQs

    What type of property is this?
    Retail property - High-return mixed-use property in Troy, NY
    Where is this retail property located?
    The property is located at 690-696 River St Troy, NY.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: 2020-installed state-of-the-art car wash equipment.; 8.1% current cap rate, with potential to exceed 10%.; Prime location poised for growth due to Troy's revitalization.
    Request Owner's contact information
    690-696 River St Troy, NY 12180
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    690-696 River St
    Troy, NY 12180
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    690-696 River St Troy, NY 12180
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.