853 4Th AveTroy, NY 12182

Property Details for 853 4Th Ave

Year built

1950

Lot size

0.28 AC

Property size (Sq ft)

7,161 SF

Zone code

R2

Property type

Investment properties

Property subtype

Live-work space

APN

381700 80.24-5-2

APU

381700802452

Description

This exceptional 0.28-acre commercial lot, located at 853 4th Ave Unit 853 in the vibrant city of Troy, New York, presents a unique investment opportunity. Priced at $899,000, this property offers significant potential for a variety of commercial ventures. The substantial lot size provides ample space for development, allowing for flexibility in design and construction. Its strategic location within Troy offers excellent visibility and accessibility, making it an ideal site for businesses seeking a prominent presence in a thriving community. The property's address is 853 4th Ave Unit 853, Troy, NY. Given its size and location, this lot is well-suited for a range of commercial uses, from retail establishments and restaurants to office spaces and light industrial facilities. The absence of existing structures allows for complete customization to meet specific business needs. Prospective buyers are encouraged to conduct their own due diligence to assess the suitability of the property for their intended purpose. This is a rare opportunity to acquire a significant commercial parcel in a desirable location, offering substantial potential for long-term growth and return on investment. The property is ready for immediate development, presenting a compelling opportunity for entrepreneurs and investors alike. Serious inquiries are welcome. The property is listed at $899,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,778,903

  6.5%

  $1,642,065

  7%

  $1,524,774

• Comparable approach

  Method

  Valuation

  Relative Method

  $941,945

  Geo Method

  $935,656

• Alternative Use

  Use

  Valuation

  Residential

  $2,036,160

  Hospitality

  $1,865,112

  Educational

  $1,551,751

  Medical

  $1,605,118

  Retail

  $2,413,835

Location Insight

City

Troy

County

Rensselaer

State

New York

Latitude

42.7847

Longitude

-73.6704

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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