$660,000
Colonie, NY 12205
MLS# 202610583
Status: Closed
7 baths | 3450 sqft
1 / 29
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!
Details
Maps
Documents
Contract Information
Original List Price: 659900
List Price/SqFt: 191.28
Sold Price/SqFt: 191.3
List Price/Acres: 2999545.45
Sold Price/Acres: 3000000
Status: Closed
Property Sub Type: Mixed Use
Sold Price: $660,000
Listing Contract Date: 2026-01-12
Current Price: $660,000
Location
City/Town (Mail): Albany
Street Number: 1879
Street Name: Central
Street Suffix: Avenue
County: Albany
State/Province: NY
Postal Code: 12205
Geo Lat: 42.734303
Geo Lon: -73.851323
Property Detail
Number Of Buildings: 1
Lot Size Square Feet: 9583
Zoning: Commercial
Lot Size Dimensions: 67' x147
Lot Size Acres: 0.22
Building Area Total: 3450
Year Built: 1956
Bathrooms Total: 7
Parcel, Tax, HOA
New Construction Y/N: No
Parcel Number: 012689 29.10-1-15
Tax Annual Amount: 7362
Tax Section: 29.10
Total Taxes Description: Estimated
Tax Block: 1
Tax Lot: 15.000
School District: South Colonie
High School: Colonie Central HS
Directions & Remarks
Directions: Route 5 across From Price Chopper near Rt 155
Public Remarks: 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!
Sewer
Public Sewer: 1
Current Use
Apartment Plus: 1
Mixed Use: 1
Retail: 1
Architectural Style
Apartments: 1
Commercial: 1
Mixed Use: 1
Office: 1
Retail: 1
Financial Details
General Taxes: 2462.67
General Taxes Description: Actual
School Taxes: 4898.74
School Taxes Description: Actual
Cooling
None: 1
Construction Materials
Block: 1
Vinyl Siding: 1
Photos - the contractual owner of the photos
Photo Owner: Broker
Possession
At Closing: 1
Flooring
Carpet: 1
Linoleum: 1
Vinyl: 1
Showing Requirements
24 Hour Notice: 1
Water Source
Public: 1
Heating
Baseboard: 1
Forced Air: 1
Hot Water: 1
Parking Features
Parking Total: 15
Paved: 1
Status Change Info
Status Change Date: 2026-06-10
Under Contract Date: 2026-01-25
Sold Date: 2026-06-10
Sold Price: $660,000
Property Features
Architectural Style: Apartments; Commercial; Mixed Use; Office; Retail
Construction Materials: Block; Vinyl Siding
Cooling: None
Current Use: Apartment Plus; Mixed Use; Retail
Flooring: Carpet; Linoleum; Vinyl
Heating: Baseboard; Forced Air; Hot Water
Parking Features: Paved
Possession: At Closing
Sewer: Public Sewer
Showing Requirements: 24 Hour Notice
Water Source: Public
Profit And Loss 
Listing Courtesy of Renovo Real Estate
Listing Agent: Jennifer Mentiply
518-369-4545 | jlohomes518@gmail.com
518-369-4545 | jlohomes518@gmail.com
