$659,900

1879 Central Avenue, Colonie, NY 12205

  • 7 baths |
  • 3,450 sqft
  • Property Icon other
  • Property Year Built Icon Built in 1956
  • Property Lot Size Icon9,583sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $191/sqft
  • Property List Date Icon Listed 1 month ago

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!

Listing Status:
Pending
Date Added:
January 14, 2026
Data Last Updated:
February 14, 2026 at 7:37AM
Listing Office:
Renovo Real Estate : 518-288-3349
Listing Agent:
Jennifer Mentiply : 518-369-4545
MLS ID:
202610583
  • Flooring: CarpetLinoleumVinyl
  • A/C: None
  • Heating: BaseboardForced AirHot Water
  • Style: Office
  • Parking: PavedParking spaces: 15
  • General: BlockVinyl Siding
  • Originating MLS: Global MLS
  • School District: South Colonie
  • County: Albany
  • Zoning: Commercial012689 29.10-1-15
  • Current Use: Apartment PlusMixed UseRetail
  • Water: Public
  • Sewer: Public Sewer
  • Source: Global MLS

This listing courtesy of Jennifer Mentiply , Renovo Real Estate

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

S

Saddlewood Elementary School

100 Loralee Dr, Albany, NY, 12205

Grades PK-4

0.69 miles away

L

Lisha Kill Middle School

68 Waterman Ave, Albany, NY, 12205

Grades 5-8

1.05 miles away

C

Colonie Central High School

1 Raider Blvd, Albany, NY, 12205

Grades 9-12

2.80 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.