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    15-49 4Th St Troy, NY 12180

    For Sale
    $10,250,000

    Prime Troy, NY mixed-use development site

    Property size:
    163,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 3.43-acre portfolio in downtown Troy, NY presents a significant redevelopment opportunity. The property comprises three tax lots totaling nearly two city blocks along the Hudson River, encompassing three existing structures and a cleared, re-zoned 1.66-acre vacant lot. The Frear building, a circa-1900 structure, offers approximately 50,000 square feet of mostly leased retail and office space. Two additional buildings, 356 Fulton Street (40,000 square feet vacant office) and The Atrium (73,000 square feet vacant retail/office), provide further development potential. The vacant land is permitted for up to 7 stories and 85% impervious lot coverage, allowing for approximately 600,000 square feet of new construction. The entire portfolio is listed on the National Register of Historic Places and sits within the city's "Resilient Waterfront" and "Historic District" overlays. The existing structures are interconnected, sharing some utilities. The asking price is $10,250,000, representing a price per square foot of $62.88 based on a net rentable area of 113,000 square feet. The current occupancy rate is 25%. This unique offering presents a rare chance to reshape a significant portion of Troy's vibrant downtown. Detailed information and offering memoranda are available upon request.

    Property Features for 15-49 4Th St

    General Information

    Property type
    Lifestyle centers
    Square Feet
    163,000 SF

    HighLights

    • $10,250,000 asking price for a redevelopment opportunity.
    • 163,000 total square feet, with 113,000 square feet net rentable.
    • $62.88 price per square foot.
    • 25% occupancy rate.
    • Three‑tax lot portfolio totaling 3.43 acres in downtown Troy, NY, including vacant land and existing buildings.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Rensselaer
    State
    New York
    Longitude
    -73.689197
    Latitude
    42.733211

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    FAQs

    What type of property is this?
    Lifestyle center - Prime Troy, NY mixed-use development site
    Where is this lifestyle center located?
    The property is located at 15-49 4Th St Troy, NY.
    What is the asking price?
    The asking price for this property is $10,250,000.
    What are key features of this property?
    This property features: $10,250,000 asking price for a redevelopment opportunity.; 163,000 total square feet, with 113,000 square feet net rentable.; $62.88 price per square foot.
    Request Owner's contact information
    15-49 4Th St Troy, NY 12180
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    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
    15-49 4Th St Troy, NY 12180
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