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    Property profile & analytics

    369 2Nd Ave Troy, NY 12182

    • Investment properties
    • 10,574 SF
    • 0.89 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Sep 30, 2024
    $1,100,000
    Value Estimations
    $1,090,000
    Cap Rate Potential
    9.5%
    Investment properties
    Location Intelligence
    Property ID
    US63-6186273
    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

    • NAPA Auto Parts / Truck Parts Supplier / Auto Parts Store
    • Anchest Auto Glass of Troy / Auto Repair Shop

    Property Details for 369 2Nd Ave

    Year built
    1920
    Lot size
    0.89 lot acres
    Property size
    10,574 SF
    Zone code
    B2
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    381700 80.78-1-1
    APU
    381700807811

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,100,000
      ML approach
      $1,100,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $816,000
      Market price range: $298k - $817k
      AI Estimate
      $939,000
      Market price range: $275k - $940k

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Rensselaer
    State
    New York
    Longitude
    -73.6812
    Latitude
    42.767
    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
    $280,000
    $290,000
    $570,000
    -
    $400,007
    $414,293
    $814,300

    Comparable in this City

    • Value Estimation
      $210,000
      1,165 SF

      664 5th Ave

      STORE/OFFICE (MIXED USE) • 1,165 SF
      664 5th Ave, Troy, NY 12182-2331
      View Details
    • Value Estimation by Request
      15,562 SF

      869 2nd Ave

      STORE/OFFICE (MIXED USE) • 15,562 SF
      869 2nd Ave, Troy, NY 12182-1920
      View Details
    • Value Estimation
      $200,000
      1,200 SF

      Speigletown Rd

      STORE/OFFICE (MIXED USE) • 1,200 SF
      Speigletown Rd, Troy, NY 12182
      View Details
    • Value Estimation
      $200,000
      900 SF

      555 State Rte 40

      STORE/OFFICE (MIXED USE) • 900 SF
      555 State Rte 40, Troy, NY 12182
      View Details
    • Value Estimation
      $225,000
      1,740 SF

      58 114th St

      STORE/OFFICE (MIXED USE) • 1,740 SF
      58 114th St, Troy, NY 12182-2717
      View Details
    • Value Estimation
      $225,000
      1,200 SF

      489 State Rte 40

      STORE/OFFICE (MIXED USE) • 1,200 SF
      489 State Rte 40, Troy, NY 12182-3805
      View Details

    Similar Nearby for Sale

    • $2,900,000
      6,098 SF

      Prime Troy Mixed-Use Corner Lot

      High-traffic location, redevelopment opportunity.
      462 2Nd Ave, Troy, NY 12182
      View Details
    • $399,900
      1.29 Acres

      Prime Troy Mixed-Use Property

      1.29 Acres, $399,900 - Investment Opportunity
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    • $849,900
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      Established Plumbing/Heating AC Business For Sale

      94-year-old plumbing and HVAC business with real estate and client list.
      323 5Th Ave, Troy, NY 12182
      View Details
    • $289,000
      0.14 Acres

      Mixed-Use Property on Corner Lot

      Mixed-use property with commercial storefront and two rental units.
      853 5Th Ave, Troy, NY 12182
      View Details
    • $899,000
      0.28 Acres

      Prime Troy, NY Commercial Lot

      0.28-Acre Development Opportunity
      853 4Th Ave, Troy, NY 12182
      View Details
    • $175,000
      2 SF

      Remodeled Home with Modern Updates

      Updated home featuring new systems, appliances, and ample storage.
      21 120Th St, Troy, NY 12182
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      10,455 SF

      Retail Space in High-Traffic Location

      Retail or office space available in a convenient, accessible location.
      369 2Nd Ave, Troy, NY 12182
      View Details
    • $3,000 /Mo
      3,596 SF

      Former Bank with Drive-Thru

      Former bank with drive-thru, office space, and full basement.
      600 2Nd Ave, Troy, NY 12182
      View Details
    • $2,500 /Mo
      2,000 SF

      Retail Space in Troy

      2000 sq ft retail space available for rent.
      7 Northern Dr, Troy, NY 12182
      View Details
    • $1,250 /Mo
      31,313 SF

      Troy Retail Space For Lease

      Prime retail space in busy Troy shopping plaza.
      7 Northern Dr, Troy, NY 12182
      View Details
    • Contact for pricing
      2,500 SF

      Oakwood Ave Warehouse Space Available

      Large Warehouse, High Traffic Area
      211 Oakwood Ave, Troy, NY 12182
      View Details

    Property Visit Statistics

    • Visits by month
      1.7k
    • Visitors by month
      1.3k
    • Avg Time on site
      7 min
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    369 2Nd Ave
    Troy, NY 12182
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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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