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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    23 State St Schenectady, NY 12305-1705

    • Investment properties
    • 3,120 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    $245,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1562071
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Investment properties

    Property Details for 23 State St

    Year built
    1981
    Lot size
    0.06 lot acres
    Property size
    3,120 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    421500 39.63-3-30
    APU
    4215003963330

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $211,000
      Market price range: $133k - $291k
      AI Estimate
      $182,000
      Market price range: $86.7k - $270k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Schenectady
    County
    Schenectady
    State
    New York
    Longitude
    -73.9481
    Latitude
    42.8155
    CBSA code
    10580
    CBSA name
    ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $8,800
    $118,500
    $127,300
    -
    $11,139
    $150,000
    $161,139

    Comparable in this City

    • Value Estimation
      $470,000
      34,019 SF

      416 State St

      OFFICE/RESIDENTIAL (MIXED USE) • 34,019 SF
      416 State St, Schenectady, NY 12305
      View Details
    • Value Estimation
      $65,000
      4,572 SF

      502 Broadway

      OFFICE/RESIDENTIAL (MIXED USE) • 4,572 SF
      502 Broadway, Schenectady, NY 12305-2701
      View Details
    • Value Estimation
      $350,000
      2,812 SF

      610 Un St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,812 SF
      610 Un St, Schenectady, NY 12305-1503
      View Details
    • Value Estimation
      $160,000
      3,754 SF

      170 Lafayette St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,754 SF
      170 Lafayette St, Schenectady, NY 12305-2044
      View Details
    • Value Estimation
      $260,000
      2,576 SF

      1176 Barrett St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,576 SF
      1176 Barrett St, Schenectady, NY 12305-1106
      View Details
    • Value Estimation
      $335,000
      7,918 SF

      447 State St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,918 SF
      447 State St, Schenectady, NY 12305-2309
      View Details

    Similar Nearby for Sale

    • $90,000
      0.06 Acres

      Schenectady Mixed-Use Investment Opportunity

      Prime Schenectady location, 0.06-acre lot, $90,000.
      714 Broadway, Schenectady, NY 12305
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    • $995,000
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      Schenectady Mixed-Use Investment Opportunity

      Prime Schenectady location, 0.17-acre lot, high potential.
      180 Erie Blvd, Schenectady, NY 12305
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    • $95,000
      0.25 Acres

      Mixed-Use Building, Schenectady, NY

      Prime Schenectady location, 0.25-acre lot, investment opportunity.
      824 Broadway, Schenectady, NY 12305
      View Details
    • New
      $389,900
      2,558 SF

      Mixed-Use Property in Historic Stockade

      Mixed-use property with cafe and residential rentals in Schenectady's Stockade.
      113-115 S Ferry St, Schenectady, NY 12305
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    • $8,500,000
      287 SF

      Erie Boulevard Portfolio Sale

      Portfolio sale with high visibility near casino entrance.
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    • $699,900
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      Prime Schenectady Mixed-Use Property

      Downtown Schenectady investment opportunity. High-return potential.
      140 Clinton St, Schenectady, NY 12305
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    Similar Nearby for Lease

    • Contact for pricing
      4,001 SF

      Historic Wedgeway Retail Space

      Renovated retail spaces in a historic downtown Schenectady landmark.
      271 State St, Schenectady, NY 12305
      View Details
    • $22 SF/Yr

      Waterfront Retail Space Opportunity

      Retail space for rent on Mohawk harbor, build to suit.
      301 Nott St, Schenectady, NY 12305
      View Details
    • $16 SF/Yr
      15,278 SF

      Medical/Surgical Skincare Facility Available

      Medical/surgical skincare facility in Schenectady, NY, for sale or lease.
      318 Broadway, Schenectady, NY 12305
      View Details
    • Contact for pricing
      55,000 SF

      Prime Office Space Available

      Sublease office space with building signage and easy access.
      433 State St, Schenectady, NY 12305
      View Details
    • $156 SF/Yr
      18,849 SF

      Downtown Schenectady Retail Space

      Prime location, 7,293 sq ft, sublease opportunity.
      415 State St, Schenectady, NY 12305
      View Details
    • $20 SF/Yr
      5,454 SF

      State Street Office Space Available

      Downtown Schenectady Office, 1,000 SF Available
      519 State St, Schenectady, NY 12305
      View Details
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    23 State St
    Schenectady, NY 12305-1705
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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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