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Property profile & analytics
OFF-MARKET
Estimated value
$1,630,000
Office buildings
406 Fulton St, Troy, NY 12180-3489
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-2820265
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1900
Total area
45,890 SF
Lot
0.21 ac (9,148 SF)
Zoning code
B4
APN
381700 101.45-4-12
UPID
US63-2820265
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
-
Intertech Engineering Consultant
-
Morningstar Center of Counslng Family Counselor
-
Joanne W. Skerritt, LCSW Foster Care Service Social Service Agency
-
Capital District Marriage and Family Therapy Psychotherapist
-
Lauren Nicole Jacobs Foster Care Service Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.55M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.48M
Blend (final)
Blend
$1.63M
Owner & transaction history
Ilium Building LLC · 3 yrs held
Ilium Building LLC
since 2023
Last sale
$1.8M
3 recorded transactions
Zoning & alternative use
B4 · Troy, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.6M
+4.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Troy submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Troy submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,515,000
ML approach
$1,550,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,480,000
Current use
COMMERCIAL (GENERAL)
$2,590,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$1.63M
Range $1.47M – $1.79M · ±10% · vs last sale $1.80M (Jan 19 2023)
Last sale anchor
$1.80M
Jan 19 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$36 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$800,000
Assessed 2023
Previous assessed
$800,000
+0.0% YoY
Assessed land
$100,000
Assessed improvement
$700,000
Land market value
$142,862
Improvement market value
$1,000,038
Total market value
$1,142,900
Applied tax rate
381,700.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1900
Heating
NONE
Stories
5
Total area
45,890 SF
Lot
0.21 ac (9,148 SF)
Zoning code
B4
APN
381700 101.45-4-12
UPID
US63-2820265
Jurisdiction
RENSSELAER
Zoning & alternative use
B4 · Troy, NY
Zoning B4 · permitted uses
B4 · Troy, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Troy. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$2.6M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Heating
NONE
Stories
5
Lot
0.21 ac
Current owner
From public records · entity-resolved
Ilium Building LLC
Entity
Mailing address
443 BLODGETT HL RD, RAVENA, NY 12143-2003
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 19, 2023
$1,800,000
Ilium Building LLC
Gutierrez Varlos T
Deed
$1,570,000 · Carlos I J-gutierrez
Sep 14, 2020
—
Gutierrez,carlos Trust
Carlosgutierrez Trust
Quit Claim Deed
related
—
Nov 25, 2015
$300,000
22-24 Fourth Street LLC
Troy Realty Ents LLC
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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