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    Mixed-Use Eight-Unit Property Title is generated by Realmo AI

    94-98 S Main Street, Castleton on Hudson, NY 12033

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    New
    For Sale
    $695,000

    Commercial - Castleton-on-Hudson, NY

    Property size:
    7,500 SF
    Lot size:
    0.07 Acres
    Price / SF:
    $92/SF
    Added:
    Jun 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 7:06 pm

    Property Features for 94-98 S Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Rooms
    Basement, Kitchen
    Parking features
    Garage
    Basement Y/N
    1
    Standard status
    Active
    APN
    384401 198.19-2-1
    Size
    7,500 SF
    Lot size
    0.07 Acres

    Taxes and HOA fees

    Tax Annual Amount
    9922

    Utilities

    Heating system
    Baseboard, Electric (Heating), Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Flooring type
    Hardwood, Tile, Vinyl
    Building materials
    Brick
    Roof type
    Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Amanda Hart
    Amanda Hart

    Listing agent Amanda Hart

    Listing office Miranda Real Estate Group Inc 1482 Rt 9, Clifton Park, NY

    Listing date Jun 1, 2026

    MLS# 11799122 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 8‑unit mixed‑use property with 3 commercial spaces and 5 residential apartments
    • Over $7,000/month gross rental income when fully rented; only 2 units currently vacant
    • Brick construction with basement and rubber roof
    • Central air cooling; heating includes natural gas plus forced air/baseboard/electric options
    • Residential finishes include hardwood flooring and tiled bathrooms
    • Separate utilities: tenants pay heat, hot water, electric, and cable; landlord covers water, sewer, and trash

    Overview

    This well-maintained mixed-use property contains eight total units: five residential apartments and three commercial spaces. The building is currently described as having two vacant units. Residential features are reported as spacious floor plans, hardwood flooring, tiled bathrooms, and Hudson River views.

    The property is located at 94-98 S Main Street in Castleton-on-Hudson, NY, within the Rensselaer County area. The listing notes convenience to East Greenbush shopping, restaurants, and everyday amenities, about 10 minutes away, and approximately 15 minutes to Downtown Albany.

    From an operator or investor perspective, the unit mix supports multiple income streams within one asset. Utilities are described as separate for residents, with tenants responsible for their own heat, hot water, electric, and cable. The landlord is described as responsible for water, sewer, and trash collection. When fully rented, the listing states gross rental income of over $7,000 per month, and provides an immediate repositioning opportunity given the current two vacancies.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Building Supply Auto Repair Shop Skin Care Clinic Daycare Center HVAC Service Electronics & Wireless Store Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Castleton on Hudson
    County
    Rensselaer
    State
    New York
    Longitude
    -73.757602
    Latitude
    42.529068

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    FAQs

    What type of property is this?
    Apartment building - 8-unit mixed-use building with three commercial spaces and five apartments, with separate utilities for tenant cost control.
    Where is this apartment building located?
    The property is located at 94-98 S Main Street Castleton on Hudson, NY.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: 8‑unit mixed‑use property with 3 commercial spaces and 5 residential apartments; Over $7,000/month gross rental income when fully rented; only 2 units currently vacant; Brick construction with basement and rubber roof
    (518) 348-2060
    We can help!
    Listing Contact
    Amanda Hart
    Amanda Hart
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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