Mixed-Use Building with Office and
1032 Central Avenue Albany, NY 12205
1032 Central Avenue, Albany, NY, 12205
$475,000
For Sale
$475,000
COMMERCIAL - Albany, NY
Property Size1,721 SF
Lot Size0.31 Acres
Price / SF$276
Days on Market33
Property Features for 1032 Central Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Commercial
- Parking
- 15
- Interior features
- Built-in Features
- Basement
- Full
- Standard status
- Active
- APN
- 010100 53.66-2-40
- Size
- 1,721 SF
- Lot size
- 0.31 Acres
Taxes and HOA fees
- Tax Annual Amount
- 11236
Utilities
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating), Natural Gas
- Cooling system
- Wall Unit(s)
- Water source
- Public
Building Details
- Year built
- 1932
- Floors in Building
- 2
- Building materials
- Brick
- Roof type
- Shingle
Listing Agency
KW Platform
(518) 724-5800
935 New Loudon Rd, Latham, NY
Listed by
Heather Hamlin Martin · License #10301219767
(518) 308-8986
Added: Jun 15 Checked: Jul 17 at 6:06 pm
MLS# 202619642
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property is configured with professional office space on the first floor and a residential apartment on the upper level. The building presents for immediate use as an owner-occupied setup or as a combined income approach, with both the apartment and the commercial space scheduled to be vacant upon closing.
The property is located on Central Avenue in Albany, NY, with visibility and straightforward access. It is described as being just 2 minutes from the Everett Rd exit, supporting convenient approach for customers, staff, and residents. The property also includes approximately 15 on-site parking spaces.
For tenants and buyers seeking flexibility, the layout supports an on-site office use paired with an upper-level apartment, or separate occupation for the commercial and residential components. The availability of both spaces at closing allows for new occupancy planning without requiring immediate coordination with existing tenants or occupants. With Commercial zoning and on-site parking included, this property is suited for those looking for a straightforward mixed-use configuration in a readily accessible corridor.
The property is located on Central Avenue in Albany, NY, with visibility and straightforward access. It is described as being just 2 minutes from the Everett Rd exit, supporting convenient approach for customers, staff, and residents. The property also includes approximately 15 on-site parking spaces.
For tenants and buyers seeking flexibility, the layout supports an on-site office use paired with an upper-level apartment, or separate occupation for the commercial and residential components. The availability of both spaces at closing allows for new occupancy planning without requiring immediate coordination with existing tenants or occupants. With Commercial zoning and on-site parking included, this property is suited for those looking for a straightforward mixed-use configuration in a readily accessible corridor.
Key Highlights
- Mixed‑use building on Central Ave with professional office space on the first floor and an apartment above
- Approximately 15 on‑site parking spaces
- Vacant upon closing: apartment and commercial space will be empty
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.2k | $22.20 |
| − Vacancy | −$6.8k | −$3.95 |
| EGI | $31.4k | $18.25 |
| − OpEx | −$7.9k | −$4.56 |
| NOI | $23.6k | $13.69 |
1,721 SF · lease $22.20/SF/yr · vacancy 17.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$336.5K
$294.4K – $392.6K
NOI $23,554 @ 7.0% cap · market cap 4.96%
Second Best
Mixed Use
$289.8K
$253.6K – $338.1K
NOI $20,284 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$454.0K
$397.3K – $529.7K
NOI $31,783 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Memory Studios Monuments
General Contractor
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FAQs
What type of property is this?
Mixed-use property - First-floor professional office with an apartment above, plus about 15 parking spaces, with both units vacant at closing.
Where is this mixed-use property located?
The property is located at 1032 Central Avenue Albany, NY.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Mixed‑use building on Central Ave with professional office space on the first floor and an apartment above; Approximately 15 on‑site parking spaces; Vacant upon closing: apartment and commercial space will be empty
