Commercial Corner with Approved
1501 State Street Schenectady, NY 12304
1501 State Street, Schenectady, NY, 12304
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For Sale
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Commercial corner property with approved expansion potential.
Property Size15,296 SF
Price / SF$156.90
Days on Market712
Property Features for 1501 State Street
General Information
- Standard status
- Active
- Size
- 15,296 SF
- Property subtype
- Retail
Listing Agency
Coldwell Banker Prime Properties Niskayuna
Listed by
Thomas Marks · License #NY
Source
Crexi
Added: Aug 6, 2024 Checked: Jul 17 at 2:19 pm
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 Coldwell Banker Prime Properties Niskayuna
Investment Insights
Based on property information with market context.
This commercial corner property offers a great location that has been consistently rented. The property includes an approved building lot with room to add between 2,500 and 3,000 square feet of space. The property size is 15,296 square feet.
Key Highlights
- Approved building lot allows for additional 5500+ sqft expansion.
- Great commercial corner location.
- Always rented, indicating strong rental income potential.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $275.3k | $18.00 |
| − Vacancy | −$11.6k | −$0.76 |
| EGI | $263.8k | $17.24 |
| − OpEx | −$79.1k | −$5.17 |
| NOI | $184.6k | $12.07 |
15,296 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.64M
$2.31M – $3.08M
NOI $184,635 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.58M
$4.01M – $5.34M
NOI $320,482 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Commercial corner property with approved expansion potential.
Where is this retail space located?
The property is located at 1501 State Street Schenectady, NY.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Approved building lot allows for additional 5500+ sqft expansion.; Great commercial corner location.; Always rented, indicating strong rental income potential.
