Positioned along a high-visibility corridor in Colonie, this well-maintained mixed-use property delivers immediate cash flow with clear value-add upside. The asset features two street-level commercial spaces with long-term tenants, four one-bedroom apartments, one studio apartment, and a three-bay garage, all supported by ample off-street parking, a rare combination in this location!
The building has been consistently rented, reflecting durable tenant demand. Current rents are below market, presenting a compelling opportunity for an investor to drive NOI through strategic rent optimization while maintaining stability. The roof was replaced approximately ten years ago and the studio was recently renovated.
Total annual rents currently total $61,920 with yearly expenses around $15,000 making the NOI approx $46,920 and a 7.1% Cap rate! Coin Laundry washer and dryer on Premises!
Property Type(s):
Multi Family
|
Last Updated
|
1/15/2026
|
Year Built
|
1956
|
|
Garage Spaces
|
3.0
|
County
|
Albany
|
SCHOOLS
| High School |
Colonie Central HS |
Additional Details
| AIR |
None |
| BASEMENT |
Walk-Out Access, Yes |
| CONSTRUCTION |
Block, Vinyl Siding |
| EXTERIOR |
None |
| GARAGE |
Yes |
| HEAT |
Baseboard, Forced Air, Hot Water |
| LOT |
9583 sq ft |
| LOT DIMENSIONS |
67' x147 |
| PARKING |
Paved |
| SEWER |
Public Sewer |
| STYLE |
Other |
| TAXES |
7362 |
| UTILITIES |
Sewer Connected |
| WATER |
Public |
Location
This listing courtesy of Renovo Real Estate
Listing information is deemed reliable, but not guaranteed.
This IDX solution is (c) Diverse Solutions 2026.
Request More Info
Schedule a Showing
Share
Print
Twitter
Facebook
Email