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    FOR SALE
    Retail space

    1879 Central Ave, Colonie, NY 12205

    3,450 SF Built 1956
    Property ID
    US63-3870197
    1879 Central Ave, Colonie, NY 12205 For Sale 1 / 29
    $659,900 3,450 SF
    1879 Central Ave, Colonie, NY 12205
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    Property summary
    AI-generated overview

    Positioned along a high-visibility corridor in Colonie, this well-maintained mixed-use property delivers immediate cash flow with clear value-add upside. The asset features two street-level commercial spaces with long-term tenants, four one-bedroom apartments, one studio apartment, and a three-bay garage, all supported by ample off-street parking, a rare combination in this location! The building has been consistently rented, reflecting durable tenant demand. Current rents are below market, presenting a compelling opportunity for an investor to drive NOI through strategic rent optimization while maintaining stability. The roof was replaced approximately ten years ago and the studio was recently renovated. Total annual rents currently total $61,920 with yearly expenses around $15,000 making the NOI approx $46,920 and a 7.1% Cap rate! Coin Laundry washer and dryer on Premises!

    Property profile
    Verified
    Property type Retail space
    Year built 1956
    Total area 3,450 SF
    UPID US63-3870197
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Shear Perfection Hair Salon Nail Salon
    1 occupant on record
    Value estimations
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