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Listed by Jennifer Mentiply • Renovo Real Estate
$ 659,900
Est. payment /mo
New
1879 Central Avenue Colonie, NY 12205
7 Baths
3,450 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 3,450 sqft
Price per Sqft $191
MLS Listing ID 202610583
Year Built 1956
Annual Tax Amount $7,362
Lot Size 9,583 Sqft
Acres 0.22
Lot Dimensions 67' x147
Property Sub-Type Mixed Use
Source Global MLS
Property Description
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!
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!
Location
State NY
County Albany
Zoning Commercial
Direction Route 5, upper Central Ave
Interior
Heating Baseboard, Hot Water
Flooring Vinyl, Carpet, Linoleum
Exterior
Parking Features Paved
Building
Sewer Public Sewer
Water Public
Architectural Style Office, Commercial
New Construction No
Schools
School District South Colonie
Others
Tax ID 012689 29.10-1-15
