Colonie, NY 12205,1879 Central Avenue
Colonie, NY 12205,1879 Central Avenue
Colonie, NY 12205,1879 Central Avenue
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Listed by Jennifer Mentiply • Renovo Real Estate
$659,900
Est. payment /mo
7 Baths
3,450 SqFt
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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!

Location

State NY

County Albany

Zoning Commercial

Direction Route 5 across From Price Chopper near Rt 155

Interior

Heating Baseboard, Forced Air, 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

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Catherine Combs

Catherine Combs

+1(518) 852-2927

Lic. Real Estate Salesperson | License ID: 10401345850

Lic. Real Estate Salesperson License ID: 10401345850

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