Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    261 3rd St Troy, NY 12180-4621

    • Investment properties
    • 4,336 SF
    • 0.22 lot acres
    OFF-MARKET
    Value Estimations
    $175,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0143838
    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

    • TekStyles Beauty Brand / Educational Consultant / Mobile Hairdresser

    Property Details for 261 3rd St

    Year built
    1940
    Lot size
    0.22 lot acres
    Property size
    4,336 SF
    Zone code
    R4
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    381700 101.77-7-9
    APU
    3817001017779

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $200,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $143,000
      Market price range: $128k - $368k
      AI Estimate
      $124,000
      Market price range: $113k - $318k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $245,000
      Current use
      OFFICE BUILDING
      $235,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Rensselaer
    State
    New York
    Longitude
    -73.6926
    Latitude
    42.7221
    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
    $23,300
    $79,700
    $103,000
    -
    $33,276
    $113,824
    $147,100

    Comparable in this City

    • Value Estimation
      $205,000
      2,900 SF

      549 Hoosick St

      STORE/OFFICE (MIXED USE) • 2,900 SF
      549 Hoosick St, Troy, NY 12180-2105
      View Details
    • Value Estimation
      $180,000
      912 SF

      975 Hoosick Rd

      STORE/OFFICE (MIXED USE) • 912 SF
      975 Hoosick Rd, Troy, NY 12180-6625
      View Details
    • Value Estimation by Request
      7,749 SF

      46 Brunswick Rd

      STORE/OFFICE (MIXED USE) • 7,749 SF
      46 Brunswick Rd, Troy, NY 12180-7061
      View Details
    • Value Estimation
      $170,000
      1,800 SF

      509 Campbell Ave

      STORE/OFFICE (MIXED USE) • 1,800 SF
      509 Campbell Ave, Troy, NY 12180-6293
      View Details
    • Value Estimation
      $210,000
      2,520 SF

      501 Campbell Ave

      STORE/OFFICE (MIXED USE) • 2,520 SF
      501 Campbell Ave, Troy, NY 12180-6159
      View Details
    • Value Estimation
      $455,000
      32,800 SF

      16 Greenbush Rd

      STORE/OFFICE (MIXED USE) • 32,800 SF
      16 Greenbush Rd, Troy, NY 12180-8579
      View Details

    Similar Nearby for Sale

    • $1,150,000
      Pending

      11-Unit Income Property with Views

      Two buildings, 11 units, Hudson River views, investment opportunity.
      204 2Nd Ave, Troy, NY 12180
      View Details
    • $229,900
      Pending

      Troy Duplex with Spacious Units

      Duplex with two 3-bedroom units, ideal for investors.
      145 6Th Ave, Troy, NY 12180
      View Details
    • $850,000
      0.47 Acres

      Prime Troy Mixed-Use Investment

      High-yield Troy property, 0.47 acres.
      689 Hoosick Rd, Troy, NY 12180
      View Details
    • $1,800,000
      9,265 SF

      Congress Street Mixed-Use Property

      Downtown Troy Mixed-Use Investment
      53-55 Congress St, Troy, NY 12180
      View Details
    • $450,000
      1.09 Acres

      Commercial Land Approved Mixed Use

      1.09 acre commercial land approved for mixed-use development.
      271 N Greenbush Rd, Troy, NY 12180
      View Details
    • $1,160,000
      0.95 Acres

      Prime Troy Mixed-Use Investment

      Rare 0.95-acre Troy mixed-use opportunity.
      474 4Th St, Troy, NY 12180
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr
      106,301 SF

      Historic Mixed-Use Building in Troy

      Mixed-use building with retail and multi-family units in Troy.
      547 River St, Troy, NY 12180
      View Details
    • $1.00 SF/Yr
      24,200 SF

      Downtown Troy Mixed-Use Opportunity

      Prime location in downtown Troy's River Street corridor.
      171 River St, Troy, NY 12180
      View Details
    • $15 SF/Yr
      9,265 SF

      Downtown Troy Mixed-Use Building

      Mixed-use building with retail and residential spaces in downtown Troy.
      47 Congress St, Troy, NY 12180
      View Details
    • $2,800 /Mo
      2,600 SF

      Versatile Commercial Space with Apartment

      Live-work opportunity: commercial suite with a spacious 2-3 bedroom apartment.
      213 Pawling Ave, Troy, NY 12180
      View Details
    • $1.00 SF/Yr
      106,301 SF

      Historic Mixed-Use Building For Lease

      Mixed-use building with retail and office spaces in Opportunity Zone.
      547 River St, Troy, NY 12180
      View Details
    • $16 SF/Yr
      97,884 SF

      Downtown Troy Mixed-Use Retail Space

      Mixed-use property in downtown Troy with retail and office space.
      1520 6Th Ave, Troy, NY 12180
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    261 3rd St
    Troy, NY 12180-4621
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.