Entity Owned 
For Sale
1 / 28
$1,450,000
28 2Nd St, Troy, NY 12180
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Property summary
AI-generated overview
A circa-1840 three-story brick building of approximately 9,171 square feet is located in downtown Troy, directly adjacent to the Troy Savings Bank Music Hall and about one block from Monument Square and the Farmer’s Market area. The interior is configured for office use with private offices, conference rooms, a reception area, and office cubicles, with 1–2 bathrooms per floor. Building access includes elevator service to all floors including the basement. The top floor, which was previously used as an apartment, includes a kitchen, two full bathrooms, a front balcony, and a rear deck, supporting potential live/work configuration. The basement level contains a former two-car garage (now used as part of the workspace) and a former fitness area repurposed as an office bullpen. A rear lift at the entry provides ADA-compliant access, and rear parking is provided for approximately 5–6 vehicles. The property is zoned 900 and is suitable for owner-occupant professional use or for redevelopment potential into multifamily housing.
Property profile
Verified
Property type
Other investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1890
Total area
9,171 SF
Lot
0.11 ac (4,792 SF)
Zoning code
B4
APN
381700 101.53-8-14
UPID
US63-0970715
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Law Firm
-
Law Firm
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$777k
Blend (final)
Blend
$770k
Owner & transaction history
since 2009
2 recorded transactions
Zoning & alternative use
B4 · Troy, NY
Top alternative use upside
Auto repair, garage
$765,000
+47.9%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 15 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$770k
Value range
$693k – $847k
±10% around blend
Estimated value / SF
$84 / SF
Confidence
High
15 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
100
Income certainty
100
$693k
blend $770k
$847k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
9,171 SF
Lot area
0.11 ac
Year built
1890
Stories
3
APN
381700 101.53-8-14
Zoning
B4
Assessed value
$740,000
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.19M
Weighted, 15 comps · high confidence
Evidence
15 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
10.3 mi away · 7,200 SF
13.1 mi away · 6,622 SF
14.0 mi away · 7,980 SF
14.0 mi away · 11,526 SF
15.3 mi away · 10,292 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$770k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 117 sales
$56
+49%
Submarket 132 sales
$52
+61%
County 213 sales
$59
+42%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $84/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+48%
vs current-use indication
Commercial (general) · current use
Office Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
Not available
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 15 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
Selected market yield
6.26%
Selected cap rate for this other investment properties
Derived from the Troy market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.26%
9.0%
NOI (est.)
$91k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.45M
Move the market yield to see immediate price impact.
Value / SF
$158
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.76%6.26%6.76%
$82k
$1.42M
$1.31M
$1.21M
$91k
$1.58M
$1.45M
$1.34M
$100k
$1.73M
$1.60M
$1.48M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
15 found
High confidence · county-verified
Closest comparable
$260k
3.3 mi · Dec 2025 · $39/SF
Property tax & assessments
Property tax & assessments
Assessed value
$740,000
Assessed 2023
Previous assessed
$740,000
+0.0% YoY
Assessed land
$41,000
Assessed improvement
$699,000
Land market value
$58,569
Improvement market value
$998,531
Total market value
$1,057,100
Applied tax rate
381,700.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Sale
Year built
1890
Heating
NONE
Buildings
1
Stories
3
Total area
9,171 SF
Lot
0.11 ac (4,792 SF)
Zoning code
B4
APN
381700 101.53-8-14
UPID
US63-0970715
Jurisdiction
RENSSELAER
Zoning & alternative use
B4 · Troy, NYZoning B4 · permitted uses
B4 · Troy, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1890
Heating
NONE
Stories
3
Buildings
1
Lot
0.11 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
B4
Jurisdiction
Troy, NY
Recorded code
B4
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for B4 in Troy, NY.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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