57 Remsen StCohoes, NY 12047

Property Details for 57 Remsen St

Year built

1958

Lot size

0.09 AC

Property size (Sq ft)

10,299 SF

Zone code

05 - COMMERCIAL

Property type

Investment properties

Property subtype

Live-work space

APN

010300 10.59-1-33

APU

103001059133

Description

This remarkable 10,299 square foot mixed-use building, located at 57 Remsen Street in Cohoes, NY, presents a unique redevelopment opportunity. Built in 1850, this three-story, Class C property boasts eight units and sits on a 3,920 square foot lot. Currently vacant, the building offers significant potential for revitalization. The "MU - CC" permitted zoning allows for versatile development options. The asking price is $775,000, translating to $75.25 per square foot. The property features first-floor retail space and a rooftop with stunning views of the city, including the Music Hall, Canal Park, and surrounding mountains. Its prime location in historic downtown Cohoes offers easy access to Empire State Plaza, several colleges, and hospitals within a 15-minute radius. The city's strong interest in redevelopment suggests a streamlined permitting process. This distressed property is being sold as-is. Consider this a chance to transform a piece of Cohoes history into a thriving mixed-use development. The property may be purchased as a package with 91 Remsen St (010300 10.59-1-24).

• CAP approach

  CAP return

  Valuation

  6%

  $2,558,431

  6.5%

  $2,361,629

  7%

  $2,192,941

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,354,712

  Geo Method

  $1,345,667

• Alternative Use

  Use

  Valuation

  Residential

  $2,928,420

  Hospitality

  $2,682,417

  Educational

  $2,231,739

  Medical

  $2,308,492

  Retail

  $3,471,594

Location Insight

City

Cohoes

County

Albany

State

New York

Latitude

42.7754

Longitude

-73.7012

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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