640 5Th AveTroy, NY 12182

Property Details for 640 5Th Ave

Year built

1953

Lot size

0.14 AC

Property size (Sq ft)

1,734 SF

Zone code

R4

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

381700 80.48-9-14

APU

3817008048914

Description

This exceptional mixed-use property, located at 640 5th Avenue, Unit 640 in the vibrant city of Troy, New York, presents a compelling investment opportunity. Situated on a sizable 0.14-acre lot, this property offers significant potential for a variety of uses, catering to both commercial and residential needs. The building's precise square footage is currently unavailable, however, the substantial lot size suggests ample space for expansion or redevelopment. The asking price of $229,900 represents a competitive entry point into the Troy real estate market, a city known for its rich history, burgeoning arts scene, and convenient access to major transportation routes. This location provides excellent visibility and accessibility, making it an ideal choice for entrepreneurs seeking a high-traffic area for their business ventures. The property's mixed-use zoning allows for flexibility in development plans, opening doors to a range of possibilities. Investors will appreciate the potential for strong rental income and long-term appreciation in this dynamic urban setting. Serious inquiries are encouraged to explore the full potential of this unique investment opportunity in the heart of Troy. Further details regarding the building's interior and specific zoning regulations are available upon request. Don't miss this chance to acquire a valuable piece of Troy's thriving commercial landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $534,133

  6.5%

  $493,046

  7%

  $457,828

• Comparable approach

  Method

  Valuation

  Relative Method

  $353,535

  Geo Method

  $351,175

• Alternative Use

  Use

  Valuation

  Residential

  $493,046

  Hospitality

  $451,627

  Educational

  $375,749

  Medical

  $388,671

  Retail

  $584,498

Location Insight

City

Troy

County

Rensselaer

State

New York

Latitude

42.7766

Longitude

-73.6721

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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